Reply to How much do you need for an UMC retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]UMC income is likely $250,000, so you will need over $6 million in income generating assets. [/quote]

Do you really need that as a senior citizen?  House is paid for.  If it’s a large house it’s a good time to downsize.   You’d be debt free.  Your bills would be taxes, cars, utilities, travel if you want.  Not all that much in expenses.  [/quote]

+1 and you are no longer setting aside my ney for college or retirement. When I see people who feel they need 200k or more in retirement, I assume they are planning for certain unusual expenses-- vacation home, a boat, high end travel (flying first class, 5 star hotels). You're really getting into the upper end of a UMC lifestyle there, if not just UC.

DH and I have discussed this extensively and our wants are simpler than that. Travel for sure, but we don't care about first class anything and a lot of our bucket list trips are things where plane tickets are a bit spendy but otherwise the thing holding us back from doing it is time. Stuff like hiking in Peru or visiting Southeast Asia where it's just very hard to take enough consecutive days from work to travel how we want. But we aren't looking to spend a lot of time at high end beach resorts or 5-star hotels in Paris or London. We don't even like fine dining that much.

My other wants are so prosaic. Room to garden. I definitely want to be able to afford a weekly housecleaner no matter what. We want to be able to buy high quality groceries. I would like to have annual memberships to a museum or two.

When we've added it all up we're barely breaking 90k or so in expenses. With certain big trips we could go up to 130-150k (safari or going all out on a Hawaiian vacation). But with a paid off house we live i just don't know what we'd spend 200k on.[/quote]

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