[l2ridehd]

Maybe this has been discussed before, but if so I missed it. Financial and retirement planners and most retirement calculators tell you that you will need about 70% of pre-retirement income when you retire. Now I would suspect that would very depending on what your working life income was. If you made 50K a year you probably need more like 90% and if you made 2 million a year then it would be more like 20% or some variation of that. Tax brackets and medical costs also play a huge part in the actual number.

When you look at all sources of retirement income, pensions, social security, investment income, 401K income and anything else you might have, what % is that of your last 3 year average income?

I have always been very fortunate and made an excellent income and will also have an excellent retirement income that will exceed what I believe my expenses will be by a significant margin. However when I consider the suggested 70% of pre-retirement income, I fall way short. I will be more in the 40-45% range. Now obviously you will all stop saving and start using the savings at a rate of somewhere between 3 and 4%, and hopefully your expenses will drop as well, but even still, when I look at current working income less savings for retirement vs actual projected retirement income, I still don't get even close to the 70% target.

Where does your percentage fall? No need for real numbers, just the % of your last 3 working years average will be a good indicator. Thanks.