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Reply to "What is your "magic number" for retirement?"
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[quote=Anonymous]I’d anticipate spending about the same in retirement as we do now, though kid-related expenses (which come out to probably 100k a year will be replaced by travel, dining out, entertainment). We are currently dual GS 15 feds so our healthcare will stay roughly the same and our pension plus social security will generate $250k or so a year, adjusted for inflation. Without having to save for retirement or kids education, we should be fine on this retirement income. Our house is paid off and we expect an inheritance between $5 and $10 million, which we will use to pay for grandkids education and plan to leave to our own kids. My parents have also saved about $200 per kid in an account that will hopefully grow so that when they reach adulthood they can use it for a downpayment on a house or whatever they need to get started. [/quote]
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