livingalmostlarge
Recycles dryer sheets
- Joined
- Feb 8, 2014
- Messages
- 334
I was just wondering when you are still working, how do you project future expenses?
I was calculating and we spend about $2500/month living and $2500/month mortgage (PITI+HOA). So $5k/month, up to $65k/year. But whenever people talk about retirement and expenses I picture myself not having a mortgage and needing maybe $2500-3k. But that means we need substantially less nest egg to make do.
But that's why I struggle so much. I don't think I'll need an extra $2500/month in retirement after the mortgage is done.
How do you look at your monthly budget? And how to you calculate future expenses? Especially for early retirement.
I was calculating and we spend about $2500/month living and $2500/month mortgage (PITI+HOA). So $5k/month, up to $65k/year. But whenever people talk about retirement and expenses I picture myself not having a mortgage and needing maybe $2500-3k. But that means we need substantially less nest egg to make do.
But that's why I struggle so much. I don't think I'll need an extra $2500/month in retirement after the mortgage is done.
How do you look at your monthly budget? And how to you calculate future expenses? Especially for early retirement.