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[quote=Anonymous][quote=Anonymous]By the time we would have retired, we would have paid for
- college, masters, professional schools for both kids
-  their weddings  for around 200K each.  
-   our mortgage (currently 200K left on a 800K house)

In retirement we would have -  2M in our savings and investments  and  200K pension.

Here is what we will use the pension for -
- our living expense, home and car maintenance, taxes, insurance, travel.
- annual max gifts to our children
- help with down payment for homes for our kids. 
- some money for our grandkids college education
- Outsourcing chores and services for ourselves and our children when our grandkids are young.

Here is what we will not use our pension for -
- pets
- 2nd vacation home
- Travel expenses with our children for family travel
- Sports cars
- Jewelry
- Yacht or boat
- Swimming pool

[/quote]

We are really similar. The stuff on your second list is honestly stuff I just don't want to pay for (except maybe if my spouse died I'd get a cat or a small dog). If I wanted a pool I'd move into a community with one which would likely mean downsizing anyway so I'd wind up with an extra 200-300k to save and invest. I'm happy to use travel points to help our one kid join us for certain trips when she's younger but we will never be the sort to pay for her entire spouse and kids to fly to Europe with us -- they can pay for their plane tickets and we'll split accommodations to bring prices down and then we'll be generous with meals and souvenirs to make it more affordable for them. Our parents didn't pay for any of our vacations when she was young and we still traveled a lot. It's about budgeting and knowing what is important to you.

When people say they have to have 250k or 300k in retirement to be happy I am just grateful that isn't me. A few years ago I splurged on a kayak and boathouse membership for myself for my 50th and that's one of the things I most look forward to in retirement -- being able to get out on the water a few times a week. DH and I also want to spend maybe 10-15k to make our yard and patio really nice so we can entertain out there more and enjoy it more. DH looks forward to spending more time cooking and perhaps taking classes with a local culinary institute. This is the kind of stuff we look forward to when we stop working and none of it particularly pricy. I think we could probably happily live off of 70-80k to be honest. We'll have a lot more than that but as far as I'm concerned it's mostly gravy.[/quote]

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