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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Y’all are nuts. Who needs 200k in retirement?

Admittedly planning on owning the house outright, and my work should cover our insurance if I stick around to retirement age. But we are only planning on spending 50k or so in todays dollars and already feel like that’s going to feel lavish. Where are these 200k+ numbers going? Genuine question, I’m trying to figure out if I’m missing something.[/quote]

Everyone has different plans for retirement. We are expecting to spend about $250K/year after tax in early retirement. That includes budgeting $50K annually for travel, $20K for philanthropy, $35K to run our house even after it's paid (insurance, property taxes, utilities, cleaning service, landscaping, etc), $15K for our country club membership, $25K for financial advisory fees. Obviously, you can do things differently and spend a lot less money depending on your lifestyle.[/quote]

DP.  As another pp pointed out, it costs money to live affluent.   The PP above plans on spending 250K/yr. Assuming 'conventional bare minimum' (i.e. 4% withdrawal rate), their target wealth number is at least $6.25mil, likely much more.

We are 58/52 with a net worth of $6.5m+.  When both retire (in about 5 years), i expect that number to be about $8m+. Our lifestyle is far less affluent - no country club, no financial advisor, and likely half of what they spend on household expenses..  Even with that, we expect to need about $150K including a $36K/yr mortgage and one kid at home (our current run rate is $120K).  Expenses can easily add up if you don't watch them.[/quote]

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