Retirement: Desired Monthly Income

[Deleted]

Our house will be paid off, so I'd like to have about $10 K post tax and healthcare expenses.

[Pom]

Aug 6, 2012 13:07:31 GMT -5 @lilly said:

Our house will be paid off, so I'd like to have about $10 K post tax and healthcare expenses.

This is our goal as well.

[anna7602]

It really depends on where we are geographically. If we decide to stay somewhere like NYC because of proximity to cultural events/not needing a car/possible location of our child(ren), then we would need more than if we go to some of the other locations DH and I have discussed.

[sillygoosegirl]

I'd like the equivalent of at least $3000/month after taxes and health insurance. That's what we spend now. Though a little more would be nice.

[ondaflipside]

With health and life insurance, daily expenses and fun $, I think we can pull it off at $4K. Anything else will be extra. If we do decide to retire outside of the country, it will likely be a smaller amount.

[SJ]

As much as possible

I know I have said this before, but I don't run these kind of numbers because I don't plan to stop contributing to retirement with the mentality of "oh, now we have enough." We are going to save as much as we can for as long as we can.

[starlily]

Our plan is to have at least my existing salary.

[chessie]

As much as possible we can save. We don't have a figure, but considering COL increases, paying for medical, etc, a lot.

[giantsgirl]

Aug 6, 2012 13:08:55 GMT -5 Pom said:

Aug 6, 2012 13:07:31 GMT -5 @lilly said:

Our house will be paid off, so I'd like to have about $10 K post tax and healthcare expenses.

This is our goal as well.

My question - is this goal in today's dollars and cost levels or dollar value of when you retire?

[Pom]

Aug 6, 2012 14:17:33 GMT -5 giantsgirl said:

Aug 6, 2012 13:08:55 GMT -5 Pom said:

This is our goal as well.

My question - is this goal in today's dollars and cost levels or dollar value of when you retire?

And $10k is a goal. I am pretty sure we will land some where around $9k+. We are adjusting for inflation via Volenti's past recommendation of www.moneychimp.com/calculator/present_value_calculator.htm

[Deleted]

Aug 6, 2012 14:17:33 GMT -5 giantsgirl said:

Aug 6, 2012 13:08:55 GMT -5 Pom said:

This is our goal as well.

My question - is this goal in today's dollars and cost levels or dollar value of when you retire?

I am not adjusting for inflation with that number, so I should have said, the equivalent of $10K now.

[Deleted]

more than we earn now. We want to travel. a lot.

[kadams767]

This thread is making me feel like an idiot, lol. Or seriously frugal. Either way, I don't anticipate spending more than $3500 or so per month in retirement.