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Money and Finances
Reply to "Spending in Retirement"
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[quote=Anonymous]The question here is really -- for high earners --- do you really need only 70-80% of pre-retirement income. Answer: For high earners this ratio makes little sense. You need to build out what your actual expenses would be and see where you end up. I will say that among high earners, most people spend about the same as now. Education costs that you now do not pay are used on grown kids. travel costs are much more. The real reduction as people have pointed out is no 401k or other savings. For high earners probably 100-200k that you saved that you no longer need.[/quote]
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