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Reply to "Retiring on $60k/year"
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[quote=Anonymous]This is a fairly simple issue. You just need to have expenses which are less than your annual income, recognizing that while your income may remain relatively constant, your expenses may not. That is, you need to be prepared for unplanned and irregular expenses, like a replacement car or a need for long-term care. So the answer to your question about continuing to work depends on how much larger your emergency fund should be, and on the lifestyle you want in retirement. You may also benefit from considering lifestyle changes, such as relocating to a much lower cost of living area where your income will go farther and/or will allow you to build up additional savings and investments for your later years. [/quote]
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