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View Poll Results: What percent of current income are you trying to match?
More than 100% 18 14.06%
100% 18 14.06%
90-99% 5 3.91%
80-89% 16 12.50%
70-79% 25 19.53%
60-69% 17 13.28%
50-59% 11 8.59%
Less than 50% 18 14.06%
Voters: 128. You may not vote on this poll

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Old 02-01-2016, 06:26 PM
 
Location: Greenville, SC
4,669 posts, read 3,715,391 times
Reputation: 8711

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I'll be at 65% when I semi-retire in a year and a half at 70.5 (social security, a small pension, and a modest amount of investments), and hope to bring that up to 80%-85% with some part time freelance web design work and a small coaching/counseling practice. Even if I were at 100%, I'd still do these things because I enjoy them.
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Old 02-01-2016, 06:57 PM
 
Location: Colorado Springs
4,857 posts, read 4,972,198 times
Reputation: 17353
My net income is a bit more than when I was working. The difference is that now my house and cars are paid off and my health insurance is covered by medicare and I no longer need to save.

So net all of those expenses I actually have more left to spend that when I was working.
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Old 02-01-2016, 07:11 PM
 
649 posts, read 555,092 times
Reputation: 1877
I said 60 percent, but that is still 6 figures.

We currently save about 60 percent of our income, house is paid for, cars are paid for, no other debts. I am going to work now until 58 and DW until 55, which is 3 more years for both of us. I will have 2 pensions, plus her 401k, my 457, IRA's, savings/investments all before SS even gets thought about. And we have Tricare, so we don't have to give health care a second thought.

I think we will be just fine. And I realize just how fortunate we are.
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Old 02-01-2016, 07:54 PM
 
Location: Sierra Nevada Land, CA
8,409 posts, read 9,160,010 times
Reputation: 13120
Seems we are drifting into about the same. With plans to be more prudent . Two pension and two SS payments.

Side note our retirement income is not based on a 4% draw on our reserve. Plan to not touch our reserve unless needed
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Old 02-02-2016, 05:52 AM
 
Location: Northern IL
241 posts, read 227,114 times
Reputation: 481
Around 60. We have no kids. In retirement we will have no mortgage. no more savings in 401k, no SS and medicare tax.

Have 2 small pensions and SS and investments.

So we think somewhere around 60 should be good and leave us a buffer as well.
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Old 02-02-2016, 06:07 AM
 
677 posts, read 841,836 times
Reputation: 1191
2 years ago my husband was laid off. We moved to a lower cost of living area. No debt-paid off cars and house (but will need another car in a year or so and will most likely pay cash). Our expenses last year were 1/3 less, so that would mean we are living on 66%. Our biggest expense is medical, which cost $20,000 last year, and we are healthy!! My husband does contract work and is 63 so 2 more years until MC kicks in. I have 5 years. He earned too much for any help financially with the exchange. Our premiums alone were over $15, 000! Our medical expenses are one third of our living expenses. That's beyond crazy...
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Old 02-02-2016, 06:24 AM
 
Location: Northern VA
512 posts, read 634,261 times
Reputation: 621
I've never thought about it in terms of percentages but it will be well below 100%. I'm still working and make a good salary but I'm also receiving my military pension. My projected social security at FRA would replace less than 25% of my current salary.

When I retire I expect to be nearly or completely out of debt and manage just fine on my pension alone. Anything I get for SS or savings is just gravy.
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Old 02-02-2016, 07:13 AM
 
71,798 posts, read 71,896,917 times
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just curious if those voting have considered what health insurance will run them in retirement .

if you don't want a pay as you advantage plan a comprehensive medigap plan F AND medicare can run a couple 10-12k a year in after tax dollars .
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Old 02-02-2016, 07:24 AM
 
Location: Denver CO
21,203 posts, read 11,826,310 times
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Quote:
Originally Posted by mathjak107 View Post
just curious if those voting have considered what health insurance will run them in retirement .

if you don't want a pay as you advantage plan a comprehensive medigap plan F AND medicare can run a couple 10-12k a year in after tax dollars .
I'm single, so I'm only worrying about half of that, and I already pay a contribution to my employer provided health insurance that isn't much less than what my mother pays for her medicare policy with the same HMO. It would be about 1200 dollars a year more than I pay right now, which I feel comfortable fitting into my budget.
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Old 02-02-2016, 08:43 AM
 
Location: Northern IL
241 posts, read 227,114 times
Reputation: 481
Quote:
Originally Posted by mathjak107 View Post
just curious if those voting have considered what health insurance will run them in retirement .

if you don't want a pay as you advantage plan a comprehensive medigap plan F AND medicare can run a couple 10-12k a year in after tax dollars .
Yes, considered and included that. However have not included LTC.
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