Reply to What do you say to someone who asks about how much money you have saved for retirement?

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Reply to "What do you say to someone who asks about how much money you have saved for retirement?"

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[quote=Anonymous]
The conversation about money is important.  If someone asked us how much money we have saved for our retirement ...our answer would certainly include things like -

- We hope to continue to age in place for as long as we can.  There will be some cost for maintenance and modifications with our present home. 
- We are not very sure if social security will remain or be reliable so our calculations does not include it. 
- We are worried about healthcare costs.  We have disability and long term care insurance. We also wonder about the cost of having a health aide. 
- We have to concurrently save for college and other higher education costs for our 2 children. 
- We feel that we would like to have at least $175K (pick a number) earnings from interests in present day costs  each year once we retire to live comfortably if not lavishly.
- We hope to only have one car, no mortgage, no college costs - once we retire.  
- We hope to go on 4 vacations a year, each costing no more than 10K for the two of us. So that is an additional $40K.
- We hope to gift our children $x tax-free every year. That is an additional $y. [/quote]

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