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Reply to "How much do you think you need for retirement, salary and age (and when you expect to retire)"
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[quote=Anonymous][quote=Anonymous]Everyone on DCUM throws out huge numbers, so I might be an outlier. I'm 60, earn $97k, and currently have $700,000 in savings, and think I'm in fine shape. By age 66, I will have my house paid off, and my spending will drop from $4500 a month to $3000. My SS will be $2400 a month, and I can easily make up the difference from the withdrawals on the $700k. I really think people saying you need $2 and $3 milliom are exaggerating IF you have living expenses in the $3k - $4k range.[/quote] It sounds like your expenses aren't high and you are anticipating social security. You will want to think about entertainment. 66 is young enough to travel and enjoy life for at least another decade. Maybe you have that built into the monthly amount. [/quote]
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