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Jul 7, 2024
6:51
:26
am
valleus
All-American
The 70% number is essentially made up. My parents spend about 30% in
retirement as when they were working.
Lots of variables though, main ones being healthcare costs and if the house is paid off.
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valleus
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valleus
Joined
Feb 1, 2017
Last login
Oct 5, 2024
Total posts
10,046 (2,511 FO)
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Messages
Author
Time
Question for those of you who have retired already.....
BYUfan92
Jul 6, 9:28pm
First off anything based on current income may be a good ballpark
cougarfann888
Jul 6, 9:34pm
For example Heres a brief breakdown of my situstion.
cougarfann888
Jul 6, 9:48pm
Thanks. So many factors to consider. We save about 17-20% of pretax income
BYUfan92
Jul 6, 10:08pm
Really depends on if you still have a mortgage payment
Jersey hunter
Jul 6, 9:41pm
Too many variables for each situation. I retired 7 months ago
TeeKaa
Jul 6, 9:57pm
More like 80% of income 5 years before retirement.
Chicago Cougar
Jul 6, 10:01pm
Close to retiring. Just did a deep dive line item by line item. I came in just
tevye
Jul 6, 10:07pm
I retired 4 years ago. We tend to spend about the same as before we retired, but a couple of factors to think about:
Zenoch
Jul 6, 10:28pm
What the fudge?
TNT
Jul 6, 11:00pm
No mortgage and a pension for us as well. I retired for 8 months then started
O Gaucho
Jul 6, 11:43pm
That’s our plan. Both have full pension so together can live off them. We could get very close to paying off mortgage
Soupie
Jul 7, 5:33am
It will be MUCH different for you. I would expect double the inflation rate for your retirement compared to your mom's.
roseyscenario
Jul 7, 6:32am
The 70% number is essentially made up. My parents spend about 30% in
valleus
Jul 7, 6:51am
Retired two years ago. Income now is 75% of final work income.
Florwood
Jul 7, 9:41am
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