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View Poll Results: How much for a middle class couple to retire comfortably?
$1,000 to $1,500 2 1.50%
$1,501 to $1,800 2 1.50%
$1,801 to $2,300 5 3.76%
$2,301 to $2,800 8 6.02%
$2,801 to $3,300 7 5.26%
$3,301 to $3,800 13 9.77%
$3,801 to $4,300 14 10.53%
$4,301 to $4,800 13 9.77%
$4,801 to $5,300 19 14.29%
$5,301 to $5,800 14 10.53%
$5,801 to $6,300 7 5.26%
More than $6,300 29 21.80%
Voters: 133. You may not vote on this poll

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Old 01-03-2015, 10:52 AM
 
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it is priceless we find being a 1/2 hour to an hour away from all the kids. we see them more now that they have their own kids than we ever did.

the human side of things can carry a huge price tag that few who do not live near the kids have.

at least every other we week we are taking one set out for lunch or dinner or paying for admission somewhere. in one shape or another a big part of our descretionary spending is just because we are so close to the kids and grandkids.
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Old 01-03-2015, 12:23 PM
 
Location: Forests of Maine
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For some things like property tax, dining out, and utilities may add up to a fair amount. To other people these things remain very small.

Before I retired, we lived in many places. In choosing where to retire, there was no single place where we could go and expect our children to stay local. Our children scattered to chase their own dreams. Trying to live close to them now, would be futile. So for us, it is not a consideration.

When I say that taxes, eating out and utilities [heating, cooling, electric, phone] can be 'very small', I mean less than $200/month averaged out.
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Old 01-03-2015, 01:32 PM
 
Location: Loudon, TN
5,785 posts, read 4,841,461 times
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Without a mortgage, I would say an average middle class couple could get by EASILY on $3k/month, no problem in this part of TN. We have a mortgage, have way too many toys, eat out a lot, and live in a house that is probably larger than we really need, and pay HOA fees, boat slip fees, have a couple of elderly, sickly pets, and we like to buy stuff. Still we are doing just fine on $5k/month right now.
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Old 01-03-2015, 01:36 PM
 
71,626 posts, read 71,777,271 times
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the median retirement income is about 38k so folks are doing it. but as i say all the time that doesn't mean that is the life they dreamed of. it means they are making do with what they have.


most of the time threads about how much does it take just reflects what folks either have to spend or to them they add on a bit more and that is what they think it would take to go true middle class. depending on location a true middle class life can cost a whole lot more than most figure.

i would have guessed at 60k in ny at one time and i live here . but it really is between 100-160k.
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Old 01-03-2015, 02:14 PM
 
Location: Las Vegas
13,890 posts, read 25,331,777 times
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Middle class and comfortable are very subjective. You may feel differently.

To me, middle class and comfortably retired means your home is paid for, no mortgage. You have enough money for what you need, not necessarily what you want. You don't get to take wonderama trips and your car is reliable but used. I picked 4K.
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Old 01-03-2015, 02:41 PM
 
Location: Forests of Maine
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Quote:
Originally Posted by yellowsnow View Post
Middle class and comfortable are very subjective. You may feel differently.

To me, middle class and comfortably retired means your home is paid for, no mortgage. You have enough money for what you need, not necessarily what you want. You don't get to take wonderama trips and your car is reliable but used. I picked 4K.
I agree.

No mortgage, large home on a few hundred acres, a couple used cars in good shape, no children at home, Eat out once-month.

$1,500 to $2,000 / month.
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Old 01-03-2015, 03:22 PM
 
Location: Los Angeles area
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Quote:
Originally Posted by yellowsnow View Post
Middle class and comfortable are very subjective........
Ain't that the truth! I don't know why so many people are reluctant to admit they are upper middle class if not higher. Everyone claims to be middle class, to the point where the term is simply meaningless on internet discussion forums.

It explains why we are talking past each other here, and why the poll answers are all over the map.
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Old 01-03-2015, 03:57 PM
 
Location: Grove City, Ohio
10,134 posts, read 12,387,762 times
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Quote:
Originally Posted by Escort Rider View Post
Ain't that the truth! I don't know why so many people are reluctant to admit they are upper middle class if not higher. Everyone claims to be middle class, to the point where the term is simply meaningless on internet discussion forums.

It explains why we are talking past each other here, and why the poll answers are all over the map.
I am surprised the answers are as spread all over the map as they are.

I don't think it cann be polled but I have a feeling the higher the number to be "comfortable" the lower the age.

I have no desire to travel other than maybe two more cruises in my lifetime. I want to take an Alaskan cruise and a Panama Canal cruise and then I will be done with traveling.

Vegas sounds neat in a way but I am nowhere near as excited about going as I used to be so I'll just stay at home.

Travel to see grandchildren is doable in the car and we can comfortably make the trip in 11 hours if we push (Interstate all the way) but what we have found is a motel halfway that we just love. It was a Hampton Inn but they lost the Hampton Inn name when Hampton forced their motels to have an interior corridor which I just hate. At our hotel I always request room 110 or 112 so we park right by the pool and we can back our car up to within six feet of our door to unload. Very thoughtful staff, clean rooms and a great free breakfast for the next morning. All this for $70

What we recently started doing was cutting the trip in half. Six hour drive followed by a short six hour drive the next day after we get up and get moving when we feel like it.

Round trip gas plus the two nights in a motel runs < $300 and that is for $3 gasoline. When we visit we visit for a week at a time or whatever anyone feels like. Other than the two cruises I want to try that's about the extent of our future travel plans.

Quote:
Originally Posted by yellowsnow View Post
Middle class and comfortable are very subjective. You may feel differently.

To me, middle class and comfortably retired means your home is paid for, no mortgage. You have enough money for what you need, not necessarily what you want. You don't get to take wonderama trips and your car is reliable but used. I picked 4K.
We're close. I believe the number here is $4,000 after paying for Medicare and the supplement plan plus pharmacy and dental. Don't forget dental because a bad molar in need of a crown and root canal will not allow you to put it off long and a $1,500 dental bill can knock a retirement budget pretty good.

So $4,600 for us as a couple leaves us $4,000 to spend or a nominal $1,000/week.

If you are younger, want to see Brazil, Italy, Greece, Paris.... then of course you will need more money but you get close to 70 and you don't see a lot of people traveling that age. Not because we can't it's just I don't want to.

Rather than travel I would rather play catch with the grandson.
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Old 01-04-2015, 08:05 AM
 
29,782 posts, read 34,876,173 times
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Quote:
Originally Posted by Escort Rider View Post
Ain't that the truth! I don't know why so many people are reluctant to admit they are upper middle class if not higher. Everyone claims to be middle class, to the point where the term is simply meaningless on internet discussion forums.

It explains why we are talking past each other here, and why the poll answers are all over the map.
Bada Bing, however consider how often folks have been accused of bragging on here. It comes out in surveys. Just like surveys on pension or pension and SS surveys surprised folks. Perhaps the peer pressure to downplay wealth in forum posts skews some discussions.
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Old 01-04-2015, 10:07 AM
 
Location: Oxygen Ln. AZ
9,321 posts, read 16,584,408 times
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Quote:
Originally Posted by nicet4 View Post
In your opinion how much of monthly income would be sufficient for a married couple to afford a comfortable and secure retirement?

I am not asking how much you are might need to retire but how much you think an average middle class couple in your area might need.

Assume the following:

1. They do not have any debts.

2. Their home is fully paid for.

3. They must pay for their Medicare Part B and any supplements/advantage plans they might want.

4. Both are in reasonably good health.

5. They enjoy doing things together such as dining out twice a month, a movie once a month, they have a wedding to go to once a year and while not bitten by the travel bug they like to visit relatives and children several times a year. Most trips are day long car trips. Every two or three years maybe a 4 or 5 day cruise or a trip to Las Vegas to see lights and squander $300 in the casino.

6. House is in good shape but sometimes the plumbing is a problem or the air conditioner goes out. Repair bills but nothing major.

Yeah, we could all live comfortably on $10 million a month but we know that, what we are looking for is something reasonable.
Sun City, AZ. The original Del Webb community has some quirky little homes that are great project homes and some have already been upgraded. You can find a nice place to live for as little as $83,000 for a condo to $120,000 for a small fixer to over $400,000 on the lake with a view. Lots to do here. Yes, I know it gets hot lol.
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