Reply to How much do you need for an UMC retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You’ll get such a wide range of answers here. For example, 250k is a lot.

I’m part of a financial forum and most who have been retired a while say they spend less than they planned. Some do choose to pay a lot for health insurance plans. Those on the ACA are paying low costs for good care.

I’d consider:
Any deferred maintenance (roof, etc)
Mortgage and property taxes
Travel
Utilities
Groceries
Cars
Etc

I added ours up and could barely get past $50k / year and that included traveling.

If you don’t calculate correctly, you might end up thinking you have to work longer than you do. No problem working longer if that’s your life goal but most want to have more time for other pursuits.

[/quote]

Guess it just depends on how you live. Our property taxes on one house are over $20k, and we need a new fridge which is north of $20k. One vacation is $10k at least. Our car tax is over $7k for the year and insurance is over $10k, not including health insurance. [/quote]

Yes it does obviously depends on how you live. OP said UMC lifestyle which I take to mean a read only nice home in a good neighborhood, 1-2 cars (nice but not necessarily luxury) and ability to replace in cash when needed, 2-3 nice (but not necessarily first class) vacations a year, ability to send money for grandkids college fund and buy gifts for kids and grandkids when you want (but not necessarily extravagant gifts), good healthcare, ability to eat out a couple times a week and shop at noon very grocery store, and a decent discretionary income on top of this for clothes or plants for the yard, etc.

But even all of that wouldn't cost more than 150k per year, if you own your home (and it's not a mansion). What you are talking about --with multiple huge homes and the very highest end appliances -- is not UMC. It's just wealthy. [/quote]

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