Reply to How much do you think you need for retirement, salary and age (and when you expect to retire)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Everyone on DCUM throws out huge numbers, so I might be an outlier.

I'm 60, earn $97k, and currently have $700,000 in savings, and think I'm in fine shape. By age 66, I will have my house paid off, and my spending will drop from $4500 a month to $3000. My SS will be $2400 a month, and I can easily make up the difference from the withdrawals on the $700k.

I really think people saying you need $2 and $3 milliom are exaggerating IF you have living expenses in the $3k - $4k range.[/quote]

Health insurance alone will be $3k $4K range in 15 years. For some of us.  I'm not referring to you, I can tell you have your ducks in a row and are doing a fine job.[/quote]

Medicare + Long Term Care Insurance takes care of that enough of the fear mongering

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Lol!! I'm paying $8,000/mo for my moms memory care. Most people don't carry long term care and many things change in terms of what is actually needed when the time comes.[/quote]

Bingo!

https://www.google.com/amp/amp.kiplinger.com/article/retirement/T027-C032-S014-the-impossible-reality-of-long-term-care-planning.html
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