Retirement Spending Survey

For those topics that don't have a place in any of the other forums.

Moderator: Aitrus

What percentage of your pre-retirement income have you actually needed during retirement?

> 120%
1
3%
> 100%
2
7%
= 100%
4
14%
< 100%
1
3%
< 80%
7
24%
< 60%
14
48%
 
Total votes: 29

Mad Maxx
Posts: 46
Joined: Mon Jan 09, 2017 1:57 pm

Re: Retirement Spending Survey

Post by Mad Maxx »

Is Susie counting on a guaranteed pension? We were told at one FERS class that a $30K pension is like having $3M in the bank and you are living off the yearly 10% growth. Sure you can't tap into that imagined $3M but you reap the growth reward. Most retirees don't have that guaranteed money coming in and need more to ensure financial stability. Food for thought.

Mad Maxx
Posts: 46
Joined: Mon Jan 09, 2017 1:57 pm

Re: Retirement Spending Survey

Post by Mad Maxx »

Oh, I retire in 6 days with a very comfy pension

WileCoyote
Posts: 1
Joined: Sat Jun 27, 2020 1:58 pm

Re: Retirement Spending Survey

Post by WileCoyote »

I retired Feb 29th. Best decision ever. While I'm pulling out a little more than I planned right now, that will reduce in a couple of years when the mortgage is paid off. And I want to have some fun while I'm still "young and able" at 58ish. Not a millionaire, but I have enough. And yes, expenses have went down drastically in some areas. I think I've only bought gas 4 times since Feb, due to traveling less and COVID-19. But, I've spent more in other areas like hobbies and honey-do list items for the house. Great times. Money isn't everything, but it is important to have enough. And only you can answer that question - it is enough?

User avatar
twinkc
Posts: 54
Joined: Mon Aug 08, 2011 10:29 pm

Re: Retirement Spending Survey

Post by twinkc »

bloobs wrote:
twinkc wrote:No debt, other than house mortgage and daughter's Brooklyn NY rent.
Your daughter better show you how grateful she is for having dad pay for her tony NYC apartment. That is certainly a privilege most parents do not owe their kids.
Hi Bloobs--actually it's her mom not her dad that's paying! and the "tony NYC apt" is in Brooklyn with 2 other roommates (not very classy). and she's finishing school. so she'll be on her own this fall! And yep that'll be a financial relief to us! :P

User avatar
mjedlin66
Site Admin
Posts: 1569
Joined: Wed Oct 02, 2013 7:51 pm

Re: Retirement Spending Survey

Post by mjedlin66 »

Mad Maxx wrote:Is Susie counting on a guaranteed pension? We were told at one FERS class that a $30K pension is like having $3M in the bank and you are living off the yearly 10% growth.
I recommend checking that math.
Owner/creator of TSPcalc.com - "Know your numbers"

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