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View Poll Results: What %age of your pre retirement income do you need in ER?
0-10% 1 0.60%
11-20% 9 5.42%
21-30% 20 12.05%
31-40% 29 17.47%
41-50% 32 19.28%
51-60% 28 16.87%
61-70% 20 12.05%
71-80% 6 3.61%
81-90% 8 4.82%
91 to more than 100% 13 7.83%
Voters: 166. You may not vote on this poll

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Old 01-05-2012, 01:29 PM   #61
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Originally Posted by walkinwood View Post
This may have been said before in this thread, but this is the wrong question to ask.

The more meaningful question is "What percentage of your pre-retirement spending do you need in ER?" My answer would be 85% (2008,09,10), but as much as 110% (2011)
Agreed it isn't the best way to look at retirement income needs. This was part of the original motivation for the thread; to point out the 80% pre retirement income dogma is flawed in many ways. The results of the survey show that the 80% number is wrong for people on here. The bigger fallacy is to come up with a retirement income number without regard to spending before retirement and changes after retirement.
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Old 01-05-2012, 02:11 PM   #62
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Before ESR we lived on about 25% of our gross income. Having two jobs a business and rentals made that happen. Now with just a partime business and one rental and absoultely no debt of any kind we live on about 25% of what we use to bring home. No big change in lifestyle just very little w*rk.

Actual expenses are what matters and we tracked them for about 21 years! That helps to determine what you really need to retire. You are correct that the 80% number is not always accurate and certainly is not a good measure compared to tracking actual expenses.
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Old 01-06-2012, 07:02 PM   #63
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Originally Posted by nun View Post
Agreed it isn't the best way to look at retirement income needs. This was part of the original motivation for the thread; to point out the 80% pre retirement income dogma is flawed in many ways. The results of the survey show that the 80% number is wrong for people on here. The bigger fallacy is to come up with a retirement income number without regard to spending before retirement and changes after retirement.
Understood.

I've always felt that the 80% of pre-retirement income was such a bogus claim! Assuming that your lifestyle stays the same, it means that you were living on 80% of your income pre-retirement. So, where does your savings come from? In fact, after taxes, it would be difficult for many people to even have 80% of their income left over.
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