How much will you need to spend in 2024 for a comfortable retirement?

Probably $200K before travel. $250K including travel. I admire those that can live below $100K, and I find it stunning when people can live below $50K. Heck, Property taxes and groceries for us is $30K/year.
I have never even made $50K gross in a year let alone spent that much.
 
In 2023 while still working per diem we spent about 135K. I was hoping 2024 would be lower by 15-20K but we’ve run into some pricy one-time costs and medical expenses so now I’m hoping it comes in around the same.
 
This is great feedback. I would have never have guessed that $40-60K is considered comfortable in 2024. The key has to be staying out of debt.
We have had no debt since paying off the mortgage in 2019. No way could we live comfortably on 60K.
 
More in each of the last 10 years than I did in any of the prior 10 years before the late wife died. Relocation, bought a more expensive house, kids in college, autos, remarried and divorced, high medical expenses even with ACA subsidies, money for kids' IRAs, etc.

Whatever you think the right number is, unplanned things will happen. Some will go against you, some won't. Might make different spending decisions than initially anticipated as I did. Having a margin above what you think you need will reduce stress.
 
My base budget (utilities, insurances, food, vehicle) comes out to a little less than $20k/year. I added a pretty decent spending weekly frivolity amount to that and came in at $26.5k, but was spending $31-32k when working, so I set my budget at $30k. I was making almost $100k, but I never succumbed to lifestyle drift, just kept paying on my mortgage, kept a decent vehicle (full-size pickup), kept building my savings, and bought what I needed and some stuff I wanted.

Coming up on mid-year, I'm at about $12.5k, so I spent almost $1000 on a new laptop that I'm due for. 4% rule puts me at close to $50k/year, but I just don't spend that much (I'm single), am comfortable now, and feel like I'm just looking for things to spend on if I want to spend more. Will probably buy a new truck next year. I usually buy a new mountain bike every 4 or 5 years

I've done 4 long weekend trips in the 1.5 years since calling it quits, and that's 3 more trips than I took in the previous 10 years, combined.
 
In the past week, I had $2k in car repairs, and we spent the same on a new fridge. This was on the heels of a nice weekend away, and a new coffee table. (the car warnings came on during the ride home, and the table was being delivered that afternoon. The fridge died the next week just hours after I got the car back. Rains>pours, etc.

We're looking at a trip later in the year to take advantage of the conversion rates in Japan. I'd hate to have a retirement that made me rethink that trip because of the unexpected few G's we had on repairs last week.

So, for me to be "comfortable" I like a plan that doesn't make me worry about those things. When we retired, we took our actual spending - not estimates, but a sum of the line by line on every card, bank statement, etc. - and added a buffer on top of that for healthcare, and lumpy stuff. It had nothing to do with income as we were socking away about 50% at the time of retirement.
 
We spend 30k on a normal year.
 
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Umm... higher than all preceding posts. One home but two boats, one small , one bigger. Add in travel , and summer vacations with the kids ( that we pay for). We don't dine out as much as I had planned, partly because my wife is a good cook and partly because of excess maintenance costs on the big boat. We have several years to go before Medicare or SS. We figured we have another 10 - 15 years of boating ahead of us so enjoy it now. And I would love a bigger boat..but there are no more large capital inflows anymore.
 
We currently have a mortgage, doing a ton of Roth conversions/tax harvesting so get very little ACA help, so we sit at around $82k. Plan to do one more giant conversion next year and then stop at which point we will get significant ACA subsidies and taxes should go to near zero. Hard to put a rules of thumb on it.
 
In the past week, I had $2k in car repairs, and we spent the same on a new fridge. This was on the heels of a nice weekend away, and a new coffee table. (the car warnings came on during the ride home, and the table was being delivered that afternoon. The fridge died the next week just hours after I got the car back. Rains>pours, etc.
Rains>pours. It certainly does. We came home from vacation to a fridge full of spoiled food and then had a massive hail storm to deal with the aftermath of...
 
We are budgeting ~$150k Maybe a little more for 2024. Not much different from the last 5 years. Do we really need that much, not really, but there is no point in hanging on to it. I am making an effort to try to spend more as we get older.
 
Just health insurance and OOP medical costs will be more than that.
I have never even made $50K gross in a year let alone spent that much.
We spend $21K alone for maintenance, utilities, taxes and insurance on 2 old cars and smaller midwest house. No mortgage or car payment. And that's doing most of the maintenance on our own...
 
To be comfortable, I need enough to cover the necessities, some discretionary, and the unexpected and/or lumpy expenses (car, appliances, vet bills) from time to time.
 
For 2024, my bills add up to about $10K. I own a condo and a car, both free and clear, and I live alone. The $10K include income/social taxes, property taxes, HOA fees (which include maintenance for my condo as well as heating and hot water), utilities, health insurance, car/home/umbrella insurance, cell phone, and bank fees. Not including travel, I can usually live comfortably on $22K a year (The extra $12K goes to food, gas, gifts, car maintenance, clothes, restaurants, entertainment, hobbies, etc...). For 2024 my budget is closer to $32K to spice things up.
 
This year I will spend about 40k for me and my two spoiled Maltese. The dogs are one of my biggest items between food, grooming, medication and vet bills.

I have a small mortgage but no other debt. The only travel I did this year is flying twice to visit family but those trips are cheap because I just pay for my flight and take them out for a nice dinner one night.
 
I totaled our annual after tax spend in each of the five preceeding years to early retirement.

Adjusted for increased travel, capital expenses, adjusted for inflation, adjusted for errors/ommissions. Est

Our retirment numbers were/all based on after tax dollars.

I was conservative. The number has proved high in some years and correct in others over each of the past 13 years. The variable was travel.

One number proved to be far too conservative. ROI, adjusted for inflation, on our investment accounts. Tax was higher. Which was why I use after tax calculations.
 
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We spend (on ourselves) about the same as last year although our income has increased considerably since RMDs. That would be a maximum of around $75k. Our modest home is paid off, Medicare and Tricare are inexpensive, and we don't have any loans so our expenses are low. Our investments keep growing even though we give the maximum to the 2 grown children. We just don't have any big needs or wants other than what my wife spends on tennis. What ever she wants is fine with me.
 
Not there yet ( 6 more yrs)
But I have my retirement budget all set Most likely, approximately 130k ( today’s dollars) with travel ( travel may be around 20k) and taxes. Health insurance is a post retirement benefit but have $1,500 in budget for some LTC ( may get a small policy to offset a portion of potential costs) and if megacorp has to rescind some post retirement health benefits if things go south ( I trust no one)
 
Not there yet ( 6 more yrs)
But I have my retirement budget all set Most likely, approximately 130k ( today’s dollars) with travel ( travel may be around 20k) and taxes. Health insurance is a post retirement benefit but have $1,500 in budget for some LTC ( may get a small policy to offset a portion of potential costs) and if megacorp has to rescind some post retirement health benefits if things go south ( I trust no one)
Re: health expenses Meant $1,500 per month, not annually
 
Excluding travel and college expenses for our son's it was about $85k last year

College expenses added close to $60k, but that comes from 529s which I didn't include in my mental accounting of spendable assets.

OP said to exclude travel. We had $28k in travel last year. That included airfare for younger son's semester abroad. Plus our own travel

We're on track to spend about the same this year.

We are comfortable, but far from fat fire.
 
I could get by comfortably on ~175k but will probably be closer to 250k this year. If I cut out my hobbies (not going to happen) I could get it down to ~100k.
 
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