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Reply to "What's your "number"?"
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[quote=Anonymous][quote=Anonymous]What will you all be doing in retirement that you need so much money? Just curious? We have a HHI of $300k but can't imagine we'd need such large sums of money for day to day expenses in retirement. We will pay off the mortgage before we retire and own a rental property we 'll probably sell. With no mortgage payment, what will you do with all the money??? I'd like to do some traveling but not that much. [/quote] I'm one of the posters who said 10-12 mil. We plan on living in NYC, 2-3 mil apt which we will pay for in cash. Coops and condos have maintenance fees/taxes. We want an apt with carrying costs under 3k/month not including utilities. We have one child to send through private school, ~45k a year for high school and middle school. College is already funded in a 529 but we may have to help for grad school. We will be retiring to Manhattan so it really depends on the area you want to retire to. We don't plan on traveling much either.[/quote]
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