re: Retirement Income Goals for planning purposes.

quote:

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If your house is paid off i would think you could get by with living on 5K a month? Yes? No?

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Of course!

I think I'm more worried about 10 to 15 years from now and how what looks good NOW might look in the future. Sure, many income sources for retirees are Inflation-adjusted but those adjustments might not be enough to keep up with inflation.

So, there's confidence in The Plan for now and maybe the next few years, but, how good is The Plan for 15 years from now?

To me, it seems (and I am a Newb on retirement planning), many of us don't plan enough for a long-term Nursing Home residency. To be fair, it seems impossible to plan well for that. They are VERY expensive and, who knows what they will cost 15 year or more from now?

I'm doing OK now. I think I'd better spend like I'm kind of poor and save that money. Too many "Unknowns" for the future.

I have visited residents in nursing homes, and, it's better to be in a good one!