No. of Recommendations: 2
I always assumed I'd need more in retirement because I wanted to travel, get away in the winter, etc. Also, I lived 5 minutes from my office, dressed business casual most of the time, and went home for lunch, so my expenses weren't going to drop just because I quit working.

You will not that the article said you would need 135% of your salary, not your expenses in retirement. Your expenses may have gone up but I hope it was less than your final salary.

I'm saving around 30% of my income. Once the kids are out of school, the mortgage paid off and the horse gone, I could be saving 50% of my income. Therefore, I would be living on less than 50% of my income. Unless I want to blow a lot of money, I don't how I would be anywhere near needing 135% of my income in retirement.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.