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Reply to "How much do you need for an UMC retirement?"
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[quote=Anonymous]I approach it from the expense side. I think for us, we will need $14K per month to stay here in a home mortgage free. We have a pension that will generate $6K (if taken today at age 55), another $6K (today) in SS for two at FRA. Not all of that income will be there the day we retire. So for a certain number of years our funding gap is $8K per month or $96K annually. And then that gap goes down to $2K. We have $4.5M in retirement, brokerage and cash. Assuming a 3% withdraw rate to be conservative.[/quote]
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