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Started By
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re: How much money do people need to retire?
Posted on 2/27/24 at 1:27 pm to BabyTac
Posted on 2/27/24 at 1:27 pm to BabyTac
quote:
My concern is simply property taxes (Texas), insurance (home and heath) are completely out of control.
That and healthcare. You retire at 50 and you’ll need to cover health insurance for yourself at minimum.
I still have two kids to put through college so I have to get to 60 before I can even think about it.
4
Posted on 2/27/24 at 1:29 pm to SquatchDawg
It’s assanine to think between healthcare and taxes one has around a $2000/month bill. This country is so in decline.
Posted on 2/27/24 at 1:31 pm to SquatchDawg
quote:
I still have two kids to put through college so I have to get to 60 before I can even think about it.
Ours should all be out of college by the time I'm 51-52, but I won't be financially ready by then. I'm hoping for 62 but we'll see how it goes.
This post was edited on 2/27/24 at 1:33 pm
Posted on 2/27/24 at 1:33 pm to SquatchDawg
Take 70% of your gross salary. Apprx that's what you'll need during retirement. Subtract SS, pension and/or any other retirement income. If there's a gap then you'll need to draw the difference from personal investments Roth IRA and retirement plans. Being debt free is tremendously important
Posted on 2/27/24 at 9:06 pm to SquatchDawg
quote:
still have two kids to put through college
They can do that themselves
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