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Reply to "How much do you need for an UMC retirement?"
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[quote=Anonymous]Yeah, I’ll second the notion that people overestimate how much a good retirement costs. My parents receive a $250,000 pension per year and give $100,000 of that to the kids because they can’t spend it all. They are still CONSTANTLY traveling (not first-class). They only shop at Whole Foods. They own fairly expensive vehicles. They still have lawn care and a housekeeper. They don’t skimp on home maintenance. It all just doesn’t cost that much. When you don’t have to put money toward a mortgage, savings, kids’ expenses, or taxes (or at least you have reduced taxes), a good life is not that expensive.[/quote]
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