View Poll Results: How much money a month to retire on have you planned for?
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$2000.00 Month
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5 |
4.24% |
$3000.00 Month
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8 |
6.78% |
$4000.00 Month
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11 |
9.32% |
$5000.00 Month and more...
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94 |
79.66% |
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Poll: Monthly Income goals? How much is enough?
05-07-2017, 05:24 PM
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#1
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Dryer sheet wannabe
Join Date: Mar 2017
Location: Charleston
Posts: 16
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Poll: Monthly Income goals? How much is enough?
What is a reasonable goal expected for your retirement? Off of your investments, pension etc?
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05-07-2017, 05:27 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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NOTICE: This is a public poll. OTHER USERS CAN SEE YOUR CHOICES.
OP, would you like to request a mod to change that setting for you?
__________________
Numbers is hard
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05-07-2017, 05:29 PM
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#3
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Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,867
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Earn enough so we can continue with our champagne and caviar lifestyle.
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05-07-2017, 05:39 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Enough so that we can continue our homebrew and squirrel pot pie lifestyle...
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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05-07-2017, 05:49 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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Typical questions for any poll like this.
One person? Two people? Four people?
Before or after taxes?
Just "basic expenses"?
Or, "normal annual expenses with our typical extras"?
Or, "average over long period, including those years when we have high home repair, travel, medical, wedding, ... expenses"?
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05-07-2017, 05:50 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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Quote:
Originally Posted by REWahoo
When I hit 70, it hit back
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Good line. For me, it was 69.
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05-07-2017, 05:51 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by rayinpenn
Earn enough so we can continue with our champagne and caviar lifestyle.
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Oh i like ur style.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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05-07-2017, 05:52 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,140
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Wasn't there a pole already?
__________________
Retired since summer 1999.
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05-07-2017, 05:52 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by brewer12345
Enough so that we can continue our homebrew and squirrel pot pie lifestyle...
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That's roughing it, but it works too
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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05-07-2017, 05:54 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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I want to be in the $30k+ per month group. Hell yeah, that's my goal.
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05-07-2017, 06:26 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by Fedup
I want to be in the $30k per month group. Hell yeah, that's my goal.
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Lets dream big
988 5th Ave,
New York, NY 10075
3 beds 3.5 baths 6,330 sqft
FOR RENT
$100,000 /mo
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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05-07-2017, 06:32 PM
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#12
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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Don't know that I'd take the poll. but it brings up an interesting point (for me, at least}...
I've periodically written about a two phase retirement, as in before age 70 or after age 70, but it's more involved than that. When you get down to the nitty gritty, the dollars are changing almost by the month. Not enough to do a broad brush of the amount we'll be spending, but taken together, a substantial amount over a longer period... in our case, (roughly) from age 62 to 70, then from 70 to 75, and more recently from 75 to 80, and I expect, beyond.
Your own changes will certainly be different from ours, both as far as age, and activity goes. This will affect the dollars.
Up until age 70, we were very active... costs involved in travel, living as snowbirds and doing daily travel in between. We ate out quite often, and bought "things" for our houses and camp. Considerable fuel and maintenance costs for the cars, and going to parties, visiting the kids and relatives etc, etc.
Monies for recreation... boats, bikes, memberships etc.
Between 70 and 80, along the way, stopped snowbirding, fewer trips, and less concern about other things like new stuff for the house, a lot less partying and now, hardly going out for meals as it's too much of a nuisance.
That said, in the next year or two, we'll sell our camp and Florida place, which we just keep for the kids vacations. That alone will cut our expenses by another 12+K/yr. The sales will also allow us to keep from paying income tax after our IRA's are depleted.
Most of this sounds like nickel and dime savings, but when I do a year end accounting of our assets, each year shows thousands of dollars less than the year before.
This won't work for everyone. Those who will be doing world travel 'til they're in their 80's and 90's, or who have large homes to keep, and like to have new cars... won't see the same savings.
We didn't really plan it ths way. It has only been in the past 3 or four years that we've been able to look back and analyze where the savings came in. the nice part is that our original plan to die dead broke @ age 85, now looks to be pushed out into our mid 90's.
How much is enough? Don't really know, but it's a lot less than our original plan.
oops... too many words... should have just given a number.
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05-07-2017, 06:50 PM
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#13
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Dryer sheet wannabe
Join Date: Mar 2017
Location: Charleston
Posts: 16
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Quote:
Originally Posted by REWahoo
NOTICE: This is a public poll. OTHER USERS CAN SEE YOUR CHOICES.
OP, would you like to request a mod to change that setting for you?
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Sure, thanks.
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05-07-2017, 06:51 PM
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#14
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Dryer sheet wannabe
Join Date: Mar 2017
Location: Charleston
Posts: 16
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Quote:
Originally Posted by Independent
Typical questions for any poll like this.
One person? Two people? Four people?
Before or after taxes?
Just "basic expenses"?
Or, "normal annual expenses with our typical extras"?
Or, "average over long period, including those years when we have high home repair, travel, medical, wedding, ... expenses"?
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2 plus child..
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05-07-2017, 06:52 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Blue Collar Guy
That's roughing it, but it works too
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Not roughing it in the slightest, far as I can tell.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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05-07-2017, 06:58 PM
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#16
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Dryer sheet wannabe
Join Date: Mar 2017
Location: Charleston
Posts: 16
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Seems like there are visions based off of where you are in life. I am on my first retirement in life, a young 49. My next retirement and final retirement will be by 62. I am not expecting much from SS, but anything I get from it will be nice.
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05-07-2017, 07:52 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,930
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Income? No specific income goal but since I retired, I usually spend more than I make most months. As planned, I'll continue to do that until my NW reaches a preset level. "If" I ever reach that preset number, I'll cut back spending to "maintain" that level of NW.
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05-07-2017, 09:57 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,321
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looks like there should be a bunch more choices on the high end.
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05-07-2017, 10:34 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by brewer12345
Not roughing it in the slightest, far as I can tell.
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hahaha, squirrel pot pie in my neck of the woods is roughin it , im sure i have been fed pigeon and cat but it was without my knowledge.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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05-08-2017, 04:20 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Sep 2016
Location: Acworth
Posts: 1,214
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Quote:
Originally Posted by 6miths
looks like there should be a bunch more choices on the high end.
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That's kinda what I was thinking when I saw the choices. I'm between the two highest choices and I know from reading various threads that a good percentage of the forum participants spend double+ what I do.
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