ChinMusic
Well-known member
I'd like this thread to be about not only RVing retirement but retirement in general. Really, I want to hear both.
I'm trying to get a handle on what my potential retirement needs will be when I retire in 6-8 years. I understand that diff folks have diff lifestyles so "your mileage may vary" def applies. I'd just kinda like to hear the range of experiences. I assume that there are certain baseline needs in retirement from which individuals add to it depending on their lifestyle.
Please feel free to give your opinions on what it generally takes for a couple to live on for a year. I've read 70-90% of what you lived on prior to retirement and I've read 100%. None of those percentages make sense to me. With my kids completing college and us becoming empty nesters I see our needs dropping dramatically. I do see medical expenses increasing regarding insurance and in general.
I know each family has its own needs but I would love to hear what other families found a comfortable level to retire on per year. Since I envision myself doing what most of what you folks are already doing, I think this forum is a good place to ask.
Info that applies to us:
1. no debt of any kind to manage
2. I have to supply all my own insurance
3. no company retirement pension or benefits (I am self employed)
4. 10 years away from Social Security (I plan on retiring around age 55)
5. modest home ($4000/yr real estate tax) to maintain.
6. pretty modest lifestyle which I would describe as reasonably frugal
Comments please, questions welcome. I hope this thread may benefit anyone else in my age group thinking of retiring.
I'm trying to get a handle on what my potential retirement needs will be when I retire in 6-8 years. I understand that diff folks have diff lifestyles so "your mileage may vary" def applies. I'd just kinda like to hear the range of experiences. I assume that there are certain baseline needs in retirement from which individuals add to it depending on their lifestyle.
Please feel free to give your opinions on what it generally takes for a couple to live on for a year. I've read 70-90% of what you lived on prior to retirement and I've read 100%. None of those percentages make sense to me. With my kids completing college and us becoming empty nesters I see our needs dropping dramatically. I do see medical expenses increasing regarding insurance and in general.
I know each family has its own needs but I would love to hear what other families found a comfortable level to retire on per year. Since I envision myself doing what most of what you folks are already doing, I think this forum is a good place to ask.
Info that applies to us:
1. no debt of any kind to manage
2. I have to supply all my own insurance
3. no company retirement pension or benefits (I am self employed)
4. 10 years away from Social Security (I plan on retiring around age 55)
5. modest home ($4000/yr real estate tax) to maintain.
6. pretty modest lifestyle which I would describe as reasonably frugal
Comments please, questions welcome. I hope this thread may benefit anyone else in my age group thinking of retiring.