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Reply to "What is your "magic number" for retirement?"
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[quote=Anonymous]A lot of folks in this Money and Finances forum skew towards higher incomes and NW. If you earn $400K-$500K today, what do you think your needs will be in retirement? The rule of thumb of 70%-80% seems way off for a high earners. My guess is it is closer to 40%-50%. I am curious if any retiree's can weigh in with their numbers. Obviously we all want to travel and we will have to pay for health care etc. But if you aren't socking away $125K into retirement and savings and your kids are launched, expenses should drop significantly right? [/quote]
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