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re: Retirement Income Goals for planning purposes.
Posted on 1/13/24 at 10:01 pm to Champagne
Posted on 1/13/24 at 10:01 pm to Champagne
Yes,they could live well even w a mortgage and modest car payment. How well? That depends heavily on where (city/rural), lifestyle (travel/hobbies/active/homebody), debt load etc.
Remember in retirement you're no longer contributing to retirement or paying FICA. Also, with a mix of traditional, Roth and taxable investments you can really minimize tax burden. So $10k/m is like making not just $140k but more like a couple earning $180k+ maxing 401k and 2x Roth IRAs in accumulation phase.
Remember in retirement you're no longer contributing to retirement or paying FICA. Also, with a mix of traditional, Roth and taxable investments you can really minimize tax burden. So $10k/m is like making not just $140k but more like a couple earning $180k+ maxing 401k and 2x Roth IRAs in accumulation phase.
This post was edited on 1/13/24 at 11:30 pm
1
Posted on 1/13/24 at 10:10 pm to TorchtheFlyingTiger
If talking nursing homes they charge 5-10k a month if paying cash. But you can buy into retirement communities that cover everything as you age
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