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Reply to "How much do you need for an UMC retirement?"
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[quote=Anonymous][quote=Anonymous]My planned expenses are driven up by my desire to fund any grandchildren’s Montessori school through elementary school. Also, I want to find their college education. I have no grandchildren but estimate 2-3 which means easily another $50k/year over my base expenses of $100k. Adding health insurance at $20k and tax at $25k gives me roughly $200k total required. SS will cover $60k eventually so I am shooting for $4m-$5m. And that’s realistic for us. [/quote] I can see that. Not the Montessori thing which wouldn't matter to me but wanting to spend more on grandkids. Though we aren't factoring SS into our budget so that also gives us more wiggle room. We'll have 80k in pension income and are looking to have another 80k in retirement income (about 2m in retirement assets). SS will be on top of that.[/quote]
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