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Author: lowstudent Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5068  
Subject: Re: Poll: FIRE value as a multiple of gross inco Date: 2/2/2006 5:15 PM
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"I figure on something around 60% of gross. I skim about 33% directly off the top for savings/retirement (and this doesn't even count the generous company match), another 7% or so goes for SS taxes that I won't be paying in retirement, and I still always have "extra" money at the end of each month anyhow. "
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This is pretty much what I have always thought about retirement income as well. I have always looked at where my expenses are and what savings I will need to make that. I put in a little pad because I do expect to do some extra travelling, and my medical will be a little higher. But I do not think a % of current income is all that good an indicator, when it isn't that complicated to gte a real good feel of current living expenses and project out from there - though to be honest my number is in the same 60% ball park.
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