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... However, if the worst case is to live within your means, you must be well off enough to retire today ;)


I wish. We have too many obligations to do that, but if all goes according to plan, they'll be paid off when we retire (DW has to work 6 months more than me to pay off the kids' student loans she committed to paying).

The way I look at it, if SS, pensions and my IRA can only produce $60,000/yr., than that's what we have to work with. If our base expenses are $50,000/yr., great. If they're $70,000/yr., then we have some major planning to do in cutting them or coming up with additional income.

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