Quote:
Originally Posted by aljetmet
On a $50 K /yr budget and say half is SS it's at least tied to inflation albeit not retirement inflation but it definitly helps.
Lot's of people are conservatively budgetting a 3-4% take from their savings in retirment. It's a good way to start. But one can earn say 8%/yr.
I use Fidility retirement tool where it shows we have a 90% chance to meet our goals by the time my wife and me hit 92. ie we don't run out of money!This is based on almost the worst case scenario.
It also says that we have a 50% chance to have over 3 times what we started with including adjustments for inflation. ( if we just keep our withdraws adjusted for inflation)
My inlaws were conservative spenders during retirement and my wife and brother-in-law had a nice inheritance that we will probably leave to our grandchildren! Moral of the story, watch your investments, but also enjoy your blessed retirement!
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aljetmet: I planned my retirement expense in a most conservative manner meaning with the possibility that I would live 10 years more than anyone of my parents. My goal is to leave as much of my savings to my children. My wife is the same age as me and her boss offered to let her work out of our home. so she did not retire when I did and is planning to retire sometime after 2011. I keep reminding myself that I can never replenish my bank account as I did during my earning years and so some purchases have to be measured for their value and use.