Reply to How much do you think you need for retirement, salary and age (and when you expect to retire)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We are both retired and have more money than we need for retirement (we are very blessed!) but one thing we have discovered is that we spend far more in retirement than when we were working. We are both healthy and in good shape and with a ton of leisure time available to us a lot of it is filled in with different sports and travel both domestic and international. We have the luxury of being able to do all of this but you really need to factor in what you would like your life to be like in retirement. Do you want to travel, do you want to escape the winters or awful summers, do you want to take up a new hobby? All of this costs money and is often not in one's current budget. Our travel expenses are probably 3-4 times what they use to be and our overall expenses are likely up 25% or so because when we were working we were not spending money! [/quote]

Great for you to have such options. Most people don’t — there’s a reason so many elderly are home watching TV all day and the one big trip is to see the grandkids once a year. It’s not that most don’t want to travel or have new hobbies (though some probably don’t), it’s just so far out of the budget that it’s not even a consideration.[/quote]

I think what the PP said was that when you think about a retirement budget when you are in your prime working years you need to consider what you'd really like to do in retirement and try to save enough to be able to do it. Unfortunately, most can't save enough to really enjoy retirement and they sit around and watch Fox News! [/quote]

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