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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.nerdwallet.com/investing/retirement-calculator[/quote]

This calculator stupidly assumes that I need as much money during retirement as I need now when I will:

- have paid off my house
-no expenses for private school or college
- no more trips for 4 persons (plus no more expensive ski trips)
-no more expensive hobbies for DCs to pay (horses, sailing, etc)

There is no way I will need all of this. There is also no way I can pay for extended qualified home care. So what’s the point of this ridiculous calculator?[/quote]

It’s not ridiculous. You’ll find new things to spend money on. You can eliminate income that went toward savings and work-related expenses (commuting costs). But other than that, most retirees who *can* spend about as much as they did before. Travel, expensive hobbies of your own, grandchildren, etc. Do you really plan to sit around your house all day?

Signed, a retired person[/quote]

Well, obviously. One could always just spend *more*. I could go on luxury trips that cost $20k per trip or I could do the same trip on $2k. I could buy expensive clothes, get the best concert tickets at $350 per person, or I could go to the local university and get a similar experience for $20. I could take senior classes at the local college for next to nothing or go on guided archeological tours for a multiple. I mean there are no limits to spending money. Doesn’t mean I will become wasteful in retirement.[/quote]

No.   Not wasteful.  But you will spend every dollar you do now with healthcare likely replacing your other expenses that went away.  You also may want to do other stuff that will cost and maybe help out kids even if just a hundred or two once and a while.  I would run it at currect expenses and then work backward from there.  [/quote]

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