For those both retired and those going to retire in the next one to three years.

The question: Realistically, how cheap do you plan to live in retirement?

Let's visit some parameters

1. No mortgagee or no new home or relocation planned.
2. Figure a 25 year retirement.
3. no car payment
4. Spouse
5. Basic expense's
6. Live in the bottom third of the cost of living geographically.
7. figure 15% of your income for travel and fun expense's
8. Insurance will be one you.

How much will you need monthly (before taxes) to meet your needs? Include your combined SS benefit figured at 62.

Everyone says you will spend more in retirement. A lot more.

What are you thinking?

I know healthcare is always mentioned and is the huge unknown. We all know that, so lets not disregard it. But no need to bring it up as we know it and just figure it in to your calculations when you respond.

1. It's small I will pay it off maybe (VRB).
2. Or less.
3. For sure!
4. Still got one. (didn't plan on "Till death you part taking that long")
5. Actually less than when working, gas, insurance.
6. Already there.
7. At least, and still save! (Always paid me first.)
8. Yes.

I am somewhat confused on how one cannot bring up healthcare. It literally dwarfs everything if you are in the 62-65 yo range. In my State a realistic plan is a touch under 3K/month and if one uses the system and pays the plan deductibles, out of pocket, not covered and all that the annual cost are probably capped at $45-50K ish. Everything else given your criteria will be way, way less than that. And if you saved for retirement via a 401K,403b etc. that is the aftertax cost. so you have to pay yourself something on the order of $80K just to have health coverage.

quote:

How much will you need monthly (before taxes) to meet your needs? Include your combined SS benefit figured at 62.

Hrcjon, We know about the unknown of HC. Right. I said figure it in to you calculations. We do not all need to hear every member say what you did. We know it and in every thread it is brought up. So just figure it in.

We are all going to die. Some are going to die saying "I cannot retire because I have no idea how much health care cost." We got that.