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Reply to "Does everyone on DCUM max out retirement?"
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[quote=Anonymous][quote=Anonymous]Most people don't and most people don't have to For the majority of the population a 1 million retirement account is plenty anything over 3 million is ridiculous except for maybe the top 1%[/quote] So, OP is currently spending around $100,000 a year ($180k - @25% state & federal taxes - $24k savings), and they're going to be happy living on $45kish ($50k - taxes) in retirement? IF SS is still around when OP retires, you can add maybe another $15,000 per person (assuming they both work) after taxes. So maybe $60k and that's being generous. So, just a little more than half of their current income. Survivable, but not what I would call "plenty." OP said after you posted this that there will be a small federal pension, too. If the pension is $40,000 or more, you could be right. However, you didn't know about the pension when you posted this. [/quote]
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