re: Retirement Income Goals for planning purposes.

quote:

---

There’s a pun in here about Champagne living on a beer budget but $10k clear per month will practically be enough if everything is paid off and you don’t have costly toys (big RV, big boat, etc).

There’s three phases of retirement:

1. Go-Go-Go

2. Slow-Slow-Slow

3. No-No-No

You’ll save money in the middle because you don’t do as much.

You’ll be lucky to spend half of the budget per month in the Slow period.

You might need it at the end for in-home care.

---

Dave Blanchet calls this the "Retirement Income Spending Smile". Wade Pfau talks about it in this article.

what is the Retirement Spending Smile?

In essence you possibly may not need to save as much and be able to spend more in the GoGo years.