I've read in various articles that most people need only a percentage of their current income when they reach retirement age. For example, if a person's expenses amount to $30K a year, they only need 80% of it in their senior years (do not recall the exact figure).
That seems counterintuitive - with medical expenses, it seems you would need much more when you retire.
How do people figure LESS (rather than more) is needed in retirement age, it seems it would be the opposite.
That seems counterintuitive - with medical expenses, it seems you would need much more when you retire.
How do people figure LESS (rather than more) is needed in retirement age, it seems it would be the opposite.