Reply to How much do you need for an UMC retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You’ll get such a wide range of answers here. For example, 250k is a lot.

I’m part of a financial forum and most who have been retired a while say they spend less than they planned. Some do choose to pay a lot for health insurance plans. Those on the ACA are paying low costs for good care.

I’d consider:
Any deferred maintenance (roof, etc)
Mortgage and property taxes
Travel
Utilities
Groceries
Cars
Etc

I added ours up and could barely get past $50k / year and that included traveling.

If you don’t calculate correctly, you might end up thinking you have to work longer than you do. No problem working longer if that’s your life goal but most want to have more time for other pursuits.

[/quote]
My sister is an empty nester in NJ. She said their monthly expenses is about $7k to $8k.  They have high a deductible insurance paid for by her DH's employer, and they still have a mortgage.  It think their PITI is similar to ours.

We will retire early so we will get ACA.  We expect our outgoing expenses to be about $10K, including health insurance, but excluding traveling.

We will still have a mortgage -- PITI $2500.

Our current monthly expenses is about the same now, in our UMC neighborhood, and that includes some travel for four.  We have one DC at home; another at college.  529 full funded.

We are estimating $140k net of tax, including travel and private health insurance (still have to pay for two kids).[/quote]

In NJ property taxes will kill you.  A 750 home can have 20K+ taxes/year.  Similar for NYC area suburbs in NY state
[/quote]

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