Rustic23
Thinks s/he gets paid by the post
I did not search to see if a similar poll to this has been posted, Mods, if so please delete.
There have been several polls as to how much you spend on various items in retirement. I got to wondering how much income do you think you need to retire. Here are my criteria. "In order for me to retire comfortably, I think I need $xx,xxx, before tax, inflation adjusted income per year."
This is not just 'how much to cover expenses' but how much you think you need to live comfortably, pay bills, sock away a little for emergencies, travel, etc. For us, we could live on about $36,000, need a little more to cover property tax, which could be deferred, a little more for taxes, then some more for pad, and a few thousand thrown in incase firecalc does not work, or I didn't use it right, so about $75,000 to $85,000 a year makes me feel comfortable that I won't be in a bread line at age 85 or so. Would I like more, well of course, but I feel comfortable with that.
There have been several polls as to how much you spend on various items in retirement. I got to wondering how much income do you think you need to retire. Here are my criteria. "In order for me to retire comfortably, I think I need $xx,xxx, before tax, inflation adjusted income per year."
This is not just 'how much to cover expenses' but how much you think you need to live comfortably, pay bills, sock away a little for emergencies, travel, etc. For us, we could live on about $36,000, need a little more to cover property tax, which could be deferred, a little more for taxes, then some more for pad, and a few thousand thrown in incase firecalc does not work, or I didn't use it right, so about $75,000 to $85,000 a year makes me feel comfortable that I won't be in a bread line at age 85 or so. Would I like more, well of course, but I feel comfortable with that.
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