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Many retirement calculators assume post-retirement montly outflow of ~70% of pre-retirement amount. I don't know if this holds true for very high income familie
by alistairSH 5y ago
Many retirement calculators assume post-retirement montly outflow of ~70% of pre-retirement amount. I don't know if this holds true for very high income families, but whenever I run various scenarios, I leave it.
I also assume many people won't have paid-off homes, so they're stuck paying rent or mortgage. Cars aren't cheap to keep running. Medical expenses are insane in the US.
- lowercased 5y agoI may still have a mortgage in 'retirement' (~10-15 years off, depending on multiple factors), and... depending on provable income, may not be able to get another one. While it's definitely a 'monthly debt' to pay off, it will likely not even be close to the cost of health insurance. Current lowest cost plan we got last year was $900/month for two people - that was $150 more than our mortgage. Mortgage/taxes/insurance were coming out around $1000. Even if I paid off the mortgage, property taxes and insurance would be ~$300/month. Health insurance is (for us) 3x that right now. Yes, it's insane.