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[quote=Anonymous]If I have a paid off house and federal pension and live in a low tax state, how much will I really need have in savings?
There are certain possibilities like long term health issues, long drawn out medical treatments, stay in a nursing home, etc that there’s no way I can possibly save enough for, and it seems stupid to live on oatmeal now in case those things happen later.
I don’t have expensive hobbies or travel plans. Why would I need millions?
Most online calculators are from banks and finance companies and of course they will tell you to put in the absolute max.
I’m 42 and I have some time. Right now I have significant home equity, a secure remote job, but I did get a late start on retirement savings (was SAHM for a few years, 2008-2009 wiped us out, divorce was costly and I had to use some retirement funds) so I only have 100k in retirement and maybe 25k in cash.
Plan right now is to cash out of NoVa house in a few years, move to lower COLA, and be able to save quite a bit of my salary once kids are done with college.[/quote]

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