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|Subject: Re: You need 135% of your salary in retirement?||Date: 9/15/2011 9:15 AM|
|Author: Goofyhoofy||Number: 69588 of 77086|
So Goofy, I guess it depends on what you mean by "spending."
Don't make it more difficult than it is.
"Spending" is what goes out of our wallet and bank account.
It is more now, in retirement, than it was before retirement. Not horrendously so, but "more" also has a simple definition.
I take it by your post that you are not yet retired. When you are, and have been for a few years, you will have a frame of reference from which to speak. Perhaps for you the answer will be "less"; for us it's not.
It appears that you are looking at the "savings" you are realizing because certain expenses have gone away. Good. If mortgage and kid expenses go away, that's all to the better. But then after a couple years of that, you will have a new baseline from which to compare.
As I noted, some people are content to sit and watch TV through their retirement, and so they won't have additional expenses of travel, entertainment, golf, etc. Some of us do, and it doesn't mean that we've suddenly gone wild and are throwing dollar bills out of the car window as we drive along.
It means that we've doubled the amount of time we have to do things which often, not always, cost money.
Our mortgage is paid off, and has been for 15 years. Our travel is modest; we're not staying in 5-star resorts; indeed, we're usually staying with friends, or driving the RV to campgrounds nearby (but not always nearby.) I drive a 14 year old car, and so did Mrs. Goofy until hers was totaled by a hail-storm this spring. (And no, I'm not counting extraordinary expenses like this, although they are significant. We're also getting the house repaired, stained, new roof and gutters, and I'm not counting that either.) I'm only counting actual living expenses, and as I say, they are higher, not lower.
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