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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Retirement income/money
How much do you think you will need to retire (and not work anymore).
I set up a poll to help.
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Posted 4/24/11 5:40 PM  |
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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Re: Retirement income/money
I said 4-6...gotta be able to pay our mortgage and still live.
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| Posted 4/24/11 7:04 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Retirement income/money
do you guys think you will need less or more or about the same income as you need now?
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| Posted 4/24/11 7:35 PM |
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MarsB
LIF Adult
Member since 11/10 1456 total posts
Name:
Martha
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Re: Retirement income/money
It depends on how old we are when we retire, if the mortgage will be paid off, if we'll have kids in college, the rate of inflation, the cost of medical care, etc. We could totally end up needing more money then we need right now.
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| Posted 4/24/11 7:58 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Retirement income/money
I think about the same, though it's hard to predict 30 years in the future--our house will be paid off, and we won't be saving/paying for college for DC anymore, and DC will (hopefully!) be out of the house and self sufficient, so we won't have as many expenses.
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| Posted 4/24/11 7:59 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: Retirement income/money
I think it would depend if my mortgage is paid off or not. If it is paid off then I think we would need less than what we need now. If there are still a few years left on the mortgage then we will need the same as we currently need.
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| Posted 4/24/11 8:39 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Retirement income/money
I say 2-4 k, mortgage will paid off so just Taxes and day tom day living
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| Posted 4/24/11 9:08 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Retirement income/money
I have big plans for retirement! I want to travel the world. I voted 6-8, voting for todays dollar not accounting for inflation
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| Posted 4/24/11 9:14 PM |
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bobby769
LIF Infant
Member since 7/10 253 total posts
Name:
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Re: Retirement income/money
I'm about 30 yrs away from retirement but adjusting for inflation I expect to need about the same as now or maybe even more. Even though my mortgage will be paid off by then.
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| Posted 4/24/11 10:51 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Retirement income/money
Posted by bobby769
I'm about 30 yrs away from retirement but adjusting for inflation I expect to need about the same as now or maybe even more. Even though my mortgage will be paid off by then.
I tend to agree with this. I know some have pensions. I won't. I am planning on saving enough pre-tax to have about 75% of what I think I will need.
Even though the mortgage is paid, you have taxes, utilities, transportation, food..it's a ton of money especially here.
If I move OOS I would say I need less.
I think people underestimate what they will need.
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| Posted 4/25/11 8:34 AM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: Retirement income/money
Posted by bobby769
I'm about 30 yrs away from retirement but adjusting for inflation I expect to need about the same as now or maybe even more. Even though my mortgage will be paid off by then.
same here, give or take
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| Posted 4/25/11 9:08 AM |
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KennysMommy
Never knew LOVE like it before
Member since 3/10 2640 total posts
Name:
Danielle
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Re: Retirement income/money
Posted by nov04libride
I think about the same, though it's hard to predict 30 years in the future--our house will be paid off, and we won't be saving/paying for college for DC anymore, and DC will (hopefully!) be out of the house and self sufficient, so we won't have as many expenses.
Same. I can only imagine we'd need money for taxes, utilities, car payments, and just daily living. No mortgage, no college to save for.... But DH wants a boat so that could cost us THOUSANDS per year if he uses it a lot!
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| Posted 4/25/11 9:45 AM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Retirement income/money
I put our current salary - we plan to travel a lot.
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| Posted 4/25/11 9:53 AM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Retirement income/money
I would say close to what we bring in now.
Property taxes now are close to $1k a month so I can't imagine what they will be 30 years from now! We re-financed our house, so assuming we don't accelerate anything, we will be paying it off until we are 67!! Obviously our game plan is to pay that down quick, but until both kids are in school FT, my earning potential isn't great. The other issue is my retirement fund has pretty much stalled with contributions since I get paid pretty irregularly.
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| Posted 4/25/11 10:10 AM |
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BeachMom
Love my 4 kiddos!
Member since 11/08 8346 total posts
Name:
Kristie
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Re: Retirement income/money
depends on inflation. Who knows what 1k will be worth 30 years from now.
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| Posted 4/25/11 11:24 AM |
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IrishLasss334
I'll be there soon!
Member since 1/08 6549 total posts
Name:
Patty
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Re: Retirement income/money
I said 2-4 - house will be paid off and we won't be living in New York.
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| Posted 4/25/11 11:50 AM |
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Pomegranate5
LIF Adult
Member since 2/11 4798 total posts
Name:
Pomegranate5
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Re: Retirement income/money
I have NO idea. We will probably *need* $4-$6K, and would be able to survive on that fairly comfortably. But who knows where our lives will be at that point.
I *hope* to be able to live off $6-$8K per month, which factors in some travel, inflation, and some other hobbies we might have.
I'd love to know who chose the over 12K option!  
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| Posted 4/27/11 8:28 AM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: Retirement income/money
I chose 6-8K. We hope to retire and stay in our current home. It should be paid off, and in the next 2 years we plan on buying an apartment in Argentina where we will spend our winters. Since our $$ will go pretty far in Argentina, I am hoping around 6K will afford us a nice lifestyle.
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| Posted 4/27/11 9:06 AM |
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