ST Alpha - "They estimate their annual expenses (including the health insurance cost) to be 70K" (Reading a Post)

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In response to "“Reasonable lifestyle” is the big question there." by znufrii

They estimate their annual expenses (including the health insurance cost) to be 70K

Posted by ty97 Sep 30 '24, 07:29

Now are they estimating well? Who knows.

Responses:

That would be low for us. And we have no debt. We have an advisor who pointed out people generally spend more in retirement. -- nm - zunk takes things literally Sep 30, 08:06
It all does sound pretty reasonable, reading the article. Dude just needs a spreadsheet (or six) to get it all organized. - znufrii Sep 30, 07:34 22
- I can't imagine retiring at 60. Can you imagine being able to retire at 60?! -- nm - ty97 Sep 30, 07:36 21
  - Everyone's different here, but I wouldn't want to retire then. I hope I can work into my early 70s. -- nm - David Sep 30, 08:12 4
    - I've had this discussion with friends. If you enjoy what you're doing, keep doing it (even if you don't have to). - zunk takes things literally Sep 30, 08:23
    - I'm starting to realize more and more that I certainly will have to do something. Can't just sit around. -- nm - Volnelk Sep 30, 08:17 2
      - You don't need to. Plenty of organizations out there just desperate for volunteers. -- nm - Meg Sep 30, 08:21
      - I hope I never learn what it's like to be afflicted by the need to always be busy :) -- nm - con_carne Sep 30, 08:19
  - I'm retiring at 55. -- nm - Volnelk Sep 30, 07:51 6
    - Nice! -- nm - Krusty Sep 30, 08:03
    - Curious, do you get a pension? -- nm - ty97 Sep 30, 07:56 3
      - Yep. I forget the math but I'm at 28 service years. I've been paying into it my whole career. When you go out determines your % payout. -- (edited) - Volnelk Sep 30, 08:12 2
        
        A) very cool that you are in a job that still has a pension B) that timing makes complete sense - ty97 Sep 30, 08:19 1
        
        Yep. "Retire/Rehire" is an option. They hire me back at a fraction of my salary as a "new" employee. But my salary is along with my pension. - Volnelk Sep 30, 08:23
    - I switched too late to do that. I'm at least to 62. -- nm - Reagen Sep 30, 07:52
  - I don’t have to imagine, I’ve got spreadsheets. -- nm - znufrii Sep 30, 07:42 4
    - I have spreadsheets upon spreadsheets but they can't predict the future! -- nm - ty97 Sep 30, 07:46 2
      - No, but you can model out a scenario based on reasonable assumptions -- (edited) - znufrii Sep 30, 08:00 1
        
        Yeah I guess - ty97 Sep 30, 08:03
    - I don't believe the spreadsheets even though they were right about college -- nm - oblique Sep 30, 07:45
  - I want to retire *NOW*. -- nm - JaxSean Sep 30, 07:36 3
    - oh sure, but can you imagine being in the financial position to retire at 60 -- nm - ty97 Sep 30, 07:38 2
      - It's a goal of mine. Not sure I can make it, but it's fun to dream. -- nm - Barony Bunch Sep 30, 07:39 1
        
        Dreaming is good! -- nm - ty97 Sep 30, 07:40

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They estimate their annual expenses (including the health insurance cost) to be 70K

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