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Subject:  Re: seeking secrets of a happy retirement Date:  1/18/2005  10:38 AM
Author:  ziggy29 Number:  44100 of 78166

>> Some people may want to live in a small home, garden and spend time with nearby grandchildren - sounds like a very enjoyable and relatively inexpensive retirement. My wife and I, on the other hand, want to spend summers in Italy and the rest of the year in a cute little home near the mountains of NH or VT; winters filled with skiing. We realize we need to save a lot and invest wisely in the next 30 years to make that dream a reality. <<

That's a good point. My parents, for example, are very content with a simple, mostly stay-at-home lifestyle. It suits them well and it's what they want. As a result, though they could afford more, their expenses are rather low compared to their working days (and while raising five children). They have no mortgage, no commuting expenses, only one car, low wardrobe expenses, et cetera. They probably get by on 30-40% of what my dad earned shortly before he retired. They aren't cheap or excessively frugal, but what they want out of retirement lends itself to an LBYM lifestyle.

Others want to travel a lot, have two homes, and live it up. They may well need as much as, if not more than, what they earned while working.

I suspect we're in between the two extremes. And before we determine how we'll invest and save to get there, it's important to determine wha