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Reply to "Post-retirement spending"
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[quote=Anonymous]It depends on the stage of your retirement. Early 60s, you are still active, so I think 80% is a good rule of thumb, but that's 80% of net, not gross current income. It assume you are very active, and you don't have a mortgage. Around 70 to late 70s, I'd say you start slowing down a bit, so maybe 50% Around late 70s, you start to really slow down. My IL and parents are in their 80s, and they spend less than $3000/month on living expenses + medical care. They downsized, so utilities aren't high. They don't drive anymore, so need for car insurance. They don't eat that much, so food costs are low. Obviously YMMV[/quote]
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