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View Poll Results: What is your expected or actual monthly retirement income from all sources?
4k or less 57 16.38%
5k 38 10.92%
6k 36 10.34%
7k 39 11.21%
8k 39 11.21%
9k 24 6.90%
10k or more 115 33.05%
Voters: 348. You may not vote on this poll

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Old 03-29-2017, 03:27 PM   #21
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I was thinking of total dollars spent per month, either planned (pre-FIRE) or long-term averaged (post-FIRE), NOT including net worth increases.

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Define Income. My regular predictable income from Pension + Interest + Dividends is less than $5K / month as is my typical spending, but my NW typically grows a lot more than this (and occasionally shrinks a lot more too) depending on market performance. Not sure how you would like to count this. Annual average return?
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Old 03-29-2017, 03:29 PM   #22
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Quote:
Originally Posted by stepford View Post
Define Income. My regular predictable income from Pension + Interest + Dividends is less than $5K / month as is my typical spending, but my NW typically grows a lot more than this (and occasionally shrinks a lot more too) depending on market performance. Not sure how you would like to count this. Annual average return?
Good point. I answer polls of this type by reading "income" as "spending" for retirement years (i.e., $100 from a Roth withdrawal would be income). But, am I consistent with others in doing so?
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Old 03-29-2017, 03:58 PM   #23
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I'm assuming what you are asking for is the gross spend per month (before tax - since tax is part of the spending).

I also wasn't sure whether to round up or down... so I rounded up... I feel rich now. In reality - our GROSS spend per month is between 6k and 7k... but that's for a family of 4 in a high COL area.

(The high COL area is offset by a) having a paid for home and b) being a cheap you-know-what.)
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Old 03-29-2017, 04:20 PM   #24
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Top end is too low when 30% are in that category. As previously said you will have to define "income" more precisely. Maybe focus on spending, income taxes in or out?
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Old 03-29-2017, 04:31 PM   #25
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Top end is too low when 30% are in that category. As previously said you will have to define "income" more precisely. Maybe focus on spending, income taxes in or out?
Also, the poll doesn't specify whether we are single or married. We single folks often don't really need as much income as married couples.
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Old 03-29-2017, 04:39 PM   #26
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I interpreted income as "spend", since my income can be anything I want it to be, at least until SS and RMD's.

$7k is actually more than we currently spend, but is the target number to stay under.
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Old 03-29-2017, 04:57 PM   #27
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If someone is accustomed to spending = income, FIRE is not in their future.
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Old 03-29-2017, 04:57 PM   #28
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I did it on last years income from the tax return I just filed divided by 12.
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Old 03-29-2017, 05:11 PM   #29
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Actual investment income, over $10K monthly. Also too young for SS.
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Old 03-29-2017, 05:30 PM   #30
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My monthly income in ER has been between $3k and $4k but that is all investment income from only my taxable accounts because I am too young to collect SS, take unfettered withdrawals from my tIRA, and collect my frozen company pension. And just under half of my current investment income is from the more erratic cap gain distributions, not the more regular and reliable quarterly and monthly stock and bond fund dividends.
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Old 03-29-2017, 05:32 PM   #31
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So, if one's income is greater than one's spending throughout your retirement, you heirs are going to be very happy and rich? Lots of folks want to tailor their spending to what their means can reasonably provide over retirement. I think that's the MoneyMoustache idea, right?

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If someone is accustomed to spending = income, FIRE is not in their future.
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Old 03-29-2017, 05:49 PM   #32
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Not in that top group no matter how you count it. However currently in a pre SS situation I'm maxing out the 15% bracket with some substantial deductions and HSA contributions. That puts me at about 9k / month this year and next. This was funded by peeling off some equities in tax sheltered accounts over the last 6 months. Basically I'm building up the taxable savings portion.

Once I tap SS this will drop to basically living expenses to minimize taxes. This would be about 5k / month for the two of us.

SS / Mini pension / Int and Div - Age 62-70. Add a decent stash of cash for the emergencies and extravagances. Plus if worst comes to worst (cover your ears DM!) dip into the principal. Once RMD's kick in who knows?

As far as a monthly income goes, it will probably be all over the place.
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Old 03-29-2017, 06:55 PM   #33
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Top of the poll is to the 80th percentile of household income in the US,
The bottom of the poll is at the 47th percentile of household income in the US.

In case anyone wonders where the income of members skews on this website, average in the US is dirt poor here….
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Old 03-29-2017, 07:14 PM   #34
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It's not what you get but what you keep.
My net positive cash flow will fluctuate from early retirement age 52 to 62 in big swings. But they will all be more positive then before retiring.

Thanks to the planned elimination of monthly debt payments on investment and personal real estate.
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Old 03-29-2017, 07:28 PM   #35
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I interpreted monthly income as cash income. >10K for us which includes DH and my SS, his small TIAA/CREF annuity and his RMD. It does not include investment income which is reinvested.
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Old 03-29-2017, 07:41 PM   #36
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No pension, too young for SS. Don't really have a retirement income. Just living off the cash in my portfolio. DW has a pension around $4k per month.
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Old 03-29-2017, 07:50 PM   #37
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I interpreted as spending money. Not income that you earn from investment but not spending it. I think it would be much higher category if that is the case. But what happens when you have 2008 scenario. Should you have negative income category too. So we should be consistent.
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Old 03-29-2017, 08:11 PM   #38
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Quote:
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It's not what you get but what you keep.

I'd be on the poorer side of this poll, but I live in an inexpensive part of the country, have everything we need, debt free, travel all we want, and spend lots of money on good wine, and yet we are able to put aside a modest amount of money each month. from that perspective, I feel like I should rank higher in the field.
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Old 03-29-2017, 08:13 PM   #39
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Ok, if I don't count the dough I make on investments, it's $1300/mo SS.
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Old 03-29-2017, 08:28 PM   #40
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If someone is accustomed to spending = income, FIRE is not in their future.
I'm not quite sure what you are driving at with this. We are comfortably FIREd. My 1040 income can be pretty much what I want it to be. So it is really meaningless. What I decide to draw as "income" is what we spend.

If someone is pre-FIRE, then maybe you have a point.
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