What the fudge?

Jul 6, 2024
11:00:38pm

TNT Intervention Needed

What the fudge?

"We went through a huge remodel so that's where a lot of our spending has gone. We wanted to update the house to last us another 15+ years. (I used my inheritance to pay for that. Perfect timing.)"

Does your home cover two zip codes?

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TNT

Bio page: TNT
Joined: Dec 19, 2001
Last login: Oct 5, 2024
Total posts: 240,637 (11,107 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.

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