Hello All,
I have perhaps two years before I can retire. DW and I are looking at the present budget allocation. I have two columns with the first column listing present expenses (one daughter just moved out with boyfriend but I don't consider totally independent yet - helping a little with her loans. Our son is a junior in college. Column two lists our predicted new values once the kids have left home. Eventually, it will only be DW and myself. I have been trying to get a handle on how much expenses may go down (eg groceries, dept store stuff) and what may go up (medical). I realize these values are subjective but I thought there may be some concensus data on what the percentage of retirement income is allocated for typical 'middle class' retirees in the $100K bracket. I tried looking at pie charts on Google but have not found anything meaningful. Does anyone know of a good reference site? Thanks.
I have perhaps two years before I can retire. DW and I are looking at the present budget allocation. I have two columns with the first column listing present expenses (one daughter just moved out with boyfriend but I don't consider totally independent yet - helping a little with her loans. Our son is a junior in college. Column two lists our predicted new values once the kids have left home. Eventually, it will only be DW and myself. I have been trying to get a handle on how much expenses may go down (eg groceries, dept store stuff) and what may go up (medical). I realize these values are subjective but I thought there may be some concensus data on what the percentage of retirement income is allocated for typical 'middle class' retirees in the $100K bracket. I tried looking at pie charts on Google but have not found anything meaningful. Does anyone know of a good reference site? Thanks.