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Reply to "What income are you aiming for in retirement?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have no idea what to aim for. How do you determine this? [/quote] Take your current expenditure as a base. Subtract the things you won’t need anymore (eg kids may have graduated so no college costs/savings, mortgage may be paid off), and add the things that you will need that you don’t buy now (eg more travel).[/quote] You also have to factor in taxes. I am surprised few have mentioned them in these posts.[/quote]
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