FIREmenow
Full time employment: Posting here.
- Joined
- May 9, 2013
- Messages
- 756
I've been reading here quite a while. I will be retiring in about 2-3 years at 58. I have a very detailed spending budget and have run Fido RIP (107) and Firecalc (100%) using our planned savings, small pension, and 75% of what SSI says we will receive.
However, I get the impression that my savings total is quite a bit less than the majority here - or maybe it is just those who typically speak up.
If I divide my budgeted spending into our planned savings total, I get about 18.6. I think this is the number that the adage 25x is needed to retire. It seems to work in RIP and Firecalc tools. Spending includes plan for SS, but SS not included in the division.
What's up with that? Am I that far behind? Does EVERYONE discount SSI entirely and assume more savings? Is this too complex to consider with the SS variable?
Would you retirees care to share what your multiplier number was when you retired? Did you factor in SS in your decision?
However, I get the impression that my savings total is quite a bit less than the majority here - or maybe it is just those who typically speak up.
If I divide my budgeted spending into our planned savings total, I get about 18.6. I think this is the number that the adage 25x is needed to retire. It seems to work in RIP and Firecalc tools. Spending includes plan for SS, but SS not included in the division.
What's up with that? Am I that far behind? Does EVERYONE discount SSI entirely and assume more savings? Is this too complex to consider with the SS variable?
Would you retirees care to share what your multiplier number was when you retired? Did you factor in SS in your decision?
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