Reply to At what age will you retire and with how much?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m shocked at how much money everyone has saved for retirement! Good for all of you (seriously, not being sarcastic).

We’ll be retired in 8-10 years. As a married couple, we’ll have:

- $100k/year in taxable pensions 
- Maybe $2M in retirement accounts (50% traditional, 50% Roth)
- A paid off house with around $700-900k in equity, depending on the market at retirement. 
- Medicare + FEHB, which is surprisingly expensive

I thought this sounded really well off, but not compared to most of you![/quote]

GTFOH with this humblebrag.  $100K in pensions alone is all you'll ever need.  Even for high-net-worth individuals, the median amount spent in retirement is $70K (assuming a paid-off house) - your pensions alone give you that after taxes.  The extra $2M will likely never be touched and grow to a $16M inheritance for your kids.[/quote]

$70k is crazy for HNW people. My RE taxes on 2 houses are $25k. Utilities, insurance, landscaping, maintenance, HOA run at least another $25-30k, assuming no projects (last year we spent about $75k on home projects, boring stuff like heating conversion and roof repair, not fun stuff).  Travel is in the $30k or more range and that's before we retire and start having more time to retire. So that's $80k+ before we have a single car, food, health care or other expense.[/quote]

correction: more time to travel[/quote]

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