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In addition to our pensions etc, and assuming a 4% withdrawal rate for the next 20 years, exactly how much capital do we need in our IRA etc to add another \$45,000 a year to what we will be getting?

Isn't it weird...I am not a complete dummy..Mensa and all that...but I can't do Math for nuts..

BTW DH originally told me he thought we are fine until we are 93, but I can't find that budget on this computer and don't remember his exact calculations. ( Done a couple of years ago) I do remember he has \$20,000 a year in his calculations for travel, and only stops that at 85 yrs old in the budget. How did he choose that random age I wonder? Is he going to push my wheelchair? Or am I pushing his?

Thanks in advance for the Math.

Big Momma
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In addition to our pensions etc, and assuming a 4% withdrawal rate for the next 20 years, exactly how much capital do we need in our IRA etc to add another \$45,000 a year to what we will be getting?

\$1.125 million. (45,000 / .04)

I do remember he has \$20,000 a year in his calculations for travel, and only stops that at 85 yrs old in the budget. How did he choose that random age I wonder? Is he going to push my wheelchair? Or am I pushing his?

My parents' last independent trip was when they came to my place for Christmas when they were 85. The KC airport was no problem. They drove up to the skycaps, got rid of the luggage, then parked the car and got the shuttle to the terminal. Changing planes in Chicago was no problem with pre-arranged wheelchair assists. I met them at the gate in Baltimore and, with the help of two skycaps and two wheelchairs, got their luggage and them to my car. It was pre-9/11 days, so when they left the gate agent wheeled one and I the other onto the plane. I still remember saying to myself as I watched the plane take off, "It's United Airlines's problem now." The big tripping point was when they got back to KC and couldn't find anyone to help them with their luggage. They still traveled a lot after that, but always with someone who could handle the mechanics.

Phil
Rule Your Retirement Home Fool
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Thanks Phil..
Did we tell you you are a Good Guy?
(Also a good son, a good nephew and a good cousin from the sound of it...)

So glad your parents were happy traveling at 85...good role models for us all.

My sister is whoopsing it up on the Silk Road in China going westwards as we speak...and she'll be 75 soon. She was camping in Western Australia two months ago. She's very adventurous, but eschews the comfortable cruises we lazy folks enjoy....

Waving to you from our deck on a nice sunny day, Phil...

Warmly,
Big Momma
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Sorry, I meant for my last post to go under the CCRC thread, but I guess most of you figured that out for yourselves.
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Sounds like you are doing your homework, ResNullius. Good for you.

Don't forget networking. You usually will find people in your community who have relatives who have lived in the retirement choices in your area. You can network to find what they liked or disliked about each one.

It is very clear that some are much better than others. Usually that means dedicated staff without much turnover.

Things change. Keeping up to date can be a challenge. But comments of others gives you more to consider as you try to make the right choices.
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I have bookmarked this post and printed it out.

The information is very helpful. Thank you.

Chili
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Montecito (a small town adjacent to Santa Barbara) has an interesting varient of the retirement community, derived from what at one time was a large estate. Some folks buy multiple units and combine them, others use their unit as a pied-a-terre. You can walk to the beach. Julia Child spent her final years there. You need to pass a medical exam to buy-in, but once in everything is covered from independent living to skilled nursing. There is a long waiting list, though. On a recent visit, we enjoyed an excellent lunch, and visited a unit with high-end appliances and a view of a beautiful little garden. For us, a major attraction is it's less than a mile form where we live now.

db
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In this area, Bethesda has a series of sites covering an array of needs. Some of theirs have on-site duplexes. I presume that means they provide on-site assistance as needed or meals, etc., but you have more space to call your own.

I am not aware of any in resort communities, but that is an interesting idea.