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|Subject: Re: You need 135% of your salary in retirement?||Date: 9/16/2011 4:43 PM|
|Author: rainphakir||Number: 69596 of 81560|
About 20 years ago, I attended a community education workshop on finances and financial/retirement planning, presented by a couple of small biz financial planners.
As part of workshop, I completed a questionaire to determine what I would need in 'retirement'. I assumed a 'what I want to do in retirement' rather than the 'need for retirement'. My wants were perhaps 200% of my then current income. The financial planner LAUGHED at my naivete. He basically told me to go away and grow up, and accept that my 'dream' wasn't gonna happen.
I discovered TMF... retire early homepage... other resources...
As a result I changed my 'job' goals to a higher paying position, made it happen, and over the last few years, after reaching some of the goals produced in the workshop 20 years ago... I find that I could easily 'want' a bit more... primarily because my estimate of travel needs has changed.
so... What kind of BS study is this?
Personally, I've never understood why other folks limited themselves.
Perhaps this study merely illuminates the gaping hole that exists between planning for 'needs' vs planning for 'needs + wants'.
And, yes, I'm far better off for having 'dreamt'... than had I not.
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