OP here.
Several folks questioned why I asked the question the way I did (as a percentage of gross income) so I'll try to clarify.
My rationale is (and I may be all spun around the axel on this since I'm not yet retired) that my portfolio at the time of retirement will throw off about 80k of cash from which I must pay taxes and expenses. (Who knows what taxes will be in four years)
DW and I have some options on whether we stay living in our Pre-retirement house or try to down size in order to live more comfortably (financially). Our house is modest and moving would likely mean going to an apartment.
If we stay in our current house, it will cost us close to $20K annually, which will be about 25% of our 80K of income.
I was wondering if that large a percentage was typical and if so, maybe it is less worrisome and more doable then I fear.
That said, I realize that everyone's situation is different but from a pre retirement perspective things like housing look very scary.
Thanks, EMI GUY
Several folks questioned why I asked the question the way I did (as a percentage of gross income) so I'll try to clarify.
My rationale is (and I may be all spun around the axel on this since I'm not yet retired) that my portfolio at the time of retirement will throw off about 80k of cash from which I must pay taxes and expenses. (Who knows what taxes will be in four years)
DW and I have some options on whether we stay living in our Pre-retirement house or try to down size in order to live more comfortably (financially). Our house is modest and moving would likely mean going to an apartment.
If we stay in our current house, it will cost us close to $20K annually, which will be about 25% of our 80K of income.
I was wondering if that large a percentage was typical and if so, maybe it is less worrisome and more doable then I fear.
That said, I realize that everyone's situation is different but from a pre retirement perspective things like housing look very scary.
Thanks, EMI GUY