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What is your minimum income need in retirement in dollars before tax. Please state the expected minimum yearly income need. This would be the floor that covers non-discretionary expenses and the basic discretionary items that would support your basic needs.
Please share the following information:
1) pre-tax income minimum floor in today's dollars (identify if this include mortgage or rent)
2) How many people will the income support (e.g. 2 people)
3) area of the country (e.g. midwest, west coast, east coast) plus if you are in a high expense are (e.g. Manhattan)
4) Status retired/working - Are you planning or have actual experience.
Our Information:
1) Floor income in retirement: $45K pre-tax (no rent or mortgage $ included. We will own a condo)
2) 2 people
3) Midwest City
4) Working
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Planned FIRE Summer 2011
Disclaimer: I make no warranty or guarantee about the accuracy or completeness of this information. I am not a financial planner, my comments only represent my opinion.
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