We need about $25K/month or $300K/year to retire. Pensions and social security will bring in $150K/year and the rest will come from investments. The plan is to move to Florida on the water (an inlet). We will have about $800K towards a house.

I'd say $120K.

However, eldercare for one elderly relative is $180K a year in today's dollars, not including daily medical supplies and medications. I can only imagine how much that same care will cost decades from now...

Before the chorus of "I'll kill myself before I get there," let it be known that few people with dementia commit suicide.

Anonymous wrote:We ran calculations using 150k/year factoring in inflation and taxes. It will be more than we need and using the 4% rule as a guide, we’ll never run out of money.

$75k per person is pretty darn cheap!

We need ~$500K/year (after taxes) to fund our current retirement. We live in a higher cost of living area. Obviously we could live for a lot less, but this is to fund what we want out of our retirement years.

i aim to have a spending power of at least $200k a year, between the 2 of us, starting at age 50 if we want to stop working. that excludes pension and social security down the line
i estimate we'll "need" $150k pretax for the 7 years we'll still have the mortgage and about $80k after the mortgage is done

Our goal is 360k/yr after taxes in today's dollars because that covers assisted living for two people. We probably won't get there, and that is ok because most people do not need assisted living for all 30 years of a retirement.

We're up to spending 300k when not including kid expenses. About 100 of that is our mortgage, which we'll have after we retire (but at least won't increase with inflation- we pay taxes and insurance separately) I think that's high, as we won't spend nearly as much on food and travel, but that's what we're working off of

I’d be rich at $100k a year. I max my TSP and HSA and don’t make a ton of money so I can live off of $4k a month. Hoping to be fully retired at 62 and will only need about $12k a year to bridge the gap of SS+Pension deficit.

We ran calculations using 150k/year factoring in inflation and taxes. It will be more than we need and using the 4% rule as a guide, we’ll never run out of money.

I think we will be OK on $150k per year. FWIW, we make $250k now but put 60k in retirement and 10k in college savings each year. We’re also paying out of pocket for child #1’s college living expenses. And we pay 40k per year on our mortgage. Once we have no mortgage and no kids at home, we will spend so much less.

our estimate is around 120k after tax money (or 150/160k before tax). we are in moco and thinking about moving out of county

Anonymous wrote:We need at least $400k to cover costs which include membership at two clubs with hefty annual dues and minimum spend, property taxes, house upkeep, and elder care assistance for once set of parents, so that works out to roughly $10m in investible assets. It's nuts. If I were single, I could live on significantly less.

Mine is similar to this PP. If with DH, probably $350k-400k a year. Without him, $150k a year

$60k I have calculated as I will be living in EU and US.
I can go as low as $2000 a month in EU as housing and healthcare are cheap. It's only when I travel, I will spend more.

We need at least $400k to cover costs which include membership at two clubs with hefty annual dues and minimum spend, property taxes, house upkeep, and elder care assistance for once set of parents, so that works out to roughly $10m in investible assets. It's nuts. If I were single, I could live on significantly less.

Everyone's lifestyle and expectations are different. What's your annual amount to feel you are living a comfortable retirement that would you enjoy, that wouldn't stress you out, but is also realistic (so can't say $5 mil a month). Please add where you live (to give a sense of cost of living) and what you plan to do in retirement.