No. of Recommendations: 4
In my case, DW and I will receive about 30k in Social Security. This does not seem "adequate" to me.

The key issue is understanding what your real expenses are. $30K is actually quite a lot, provided you don't have a mortgage. Excluding mortgage expenses, Debbie and I have mandatory expenses of $22K per year, and discretionary expenses of $15K a year. And I am including things like property tax in my mandatory expenses. We could easily survive on $30K a year, though we want more than that.

The problem with most retirement calculators is that they base retirement needs on salary rather than spending. While many people do scale one with the other, you don't have to do that.

- Gus
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