Hello everyone. I don't post often, I'm more of a reader, I guess. I visit often and find this forum to be among the best I've found. So here goes. DW and I are about four years from retirement, both will be 60. As we prepare, building budget scenarios and saving all we can, we're looking at our model budget and wondering if we are in line or not. We're looking at the housing portion of our budget in particular and it looks like it will be about $20,000 per year. This number includes property taxes, electricity, heat, insurance, regular/predictable maintenance, etc.
This number will be about 25% of our projected gross income. Does this sound like too high a ratio to you?
We live in a modest home but in a high property tax state which is driving up the number. We hope to stay here to be near the kids/grand kids.
I'm wondering if the group might respond with the percentage of income you spend on housing in retirement so that we might compare?
Thanks, EMI GUY
This number will be about 25% of our projected gross income. Does this sound like too high a ratio to you?
We live in a modest home but in a high property tax state which is driving up the number. We hope to stay here to be near the kids/grand kids.
I'm wondering if the group might respond with the percentage of income you spend on housing in retirement so that we might compare?
Thanks, EMI GUY