Ronnieboy
Full time employment: Posting here.
- Joined
- Feb 14, 2008
- Messages
- 748
I know there have been 'what are your annual expenses' surveys but I am interested in people who have gone from moderate to high income levels then drop to 50% or less in retirement. Did you do it? Any problems? Things you would do different?
An example would be someone(s) earning $200k year then retire on $2m portfolio with a SWR of $80k. That is 40% of your pre-retirement income when the standard suggestion is 80% ($120k/$4m portfolio).
Heck, even earning $100k would put a $1m portfolio below the suggested amount.
I feel like I cannot save enough.....
I can see where someone from a high cost of living area sells their house for bank (maybe not anymore) and moves to a low(er) cost of living (California to Idaho). But lets say you live in an average cost of living and plan on staying there.
How do you make up the difference? Top Ramen?
An example would be someone(s) earning $200k year then retire on $2m portfolio with a SWR of $80k. That is 40% of your pre-retirement income when the standard suggestion is 80% ($120k/$4m portfolio).
Heck, even earning $100k would put a $1m portfolio below the suggested amount.
I feel like I cannot save enough.....
I can see where someone from a high cost of living area sells their house for bank (maybe not anymore) and moves to a low(er) cost of living (California to Idaho). But lets say you live in an average cost of living and plan on staying there.
How do you make up the difference? Top Ramen?