Everything is paid for, house, cars, new furnature, ....
I figure a budget that also includes all potential house/ appliance repairs, 2000/ year for a car, ... seems comfortable.
(Have set aside enough for a new car now)
Then I calculate how much income we would probably receive, using 5.5 - 6 % return and 3% inflation.
While I realize that there is not definitive answer, being realistic:
1. how much over the comfortable annual budget would be realistic and permit a good nights sleep ?
2. How much additional savings not used for retirement income.?
$2000 -3000 over budget and $30,000 for miscelaneous ?
I figure a budget that also includes all potential house/ appliance repairs, 2000/ year for a car, ... seems comfortable.
(Have set aside enough for a new car now)
Then I calculate how much income we would probably receive, using 5.5 - 6 % return and 3% inflation.
While I realize that there is not definitive answer, being realistic:
1. how much over the comfortable annual budget would be realistic and permit a good nights sleep ?
2. How much additional savings not used for retirement income.?
$2000 -3000 over budget and $30,000 for miscelaneous ?