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Old Today, 03:57 AM
 
71,511 posts, read 71,674,131 times
Reputation: 49088

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Quote:
Originally Posted by fluffythewondercat View Post
I have not found that to be true at all. A tank of diesel for my van tends to run $24 cheaper in Arizona than in California. Restaurant meals tend to be much more expensive in CA. Electricity, natural gas, water, sewer, waste disposal, all more expensive in CA.

Some people find it worth their while to live there but let's not pretend that doesn't come at a real cost.
Same here in nyc ...there are so many hidden costs ...we must spend 30 bucks a month feeding parking meters .. it cost us 25 bucks a trip in just tolls to see our kids a few times a week ....you can go east to Long Island all the way out to montauk for free as far as tolls. but head north or to New Jersey and you are pounded
With tolls .
Things like auto insurance are higher in nyc and the boroughs . We have insane utility rates ,very high medicare supplement costs because the cost of doing business is high .food is more expensive ..the list of costs that are higher can go on and on
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Old Today, 04:50 AM
 
3,336 posts, read 644,338 times
Reputation: 2319
This entire idea that one can claim a magic number needed - $1.7 million in this case - without factoring in one's living expenses is ridiculous.

In my case, my monthly expenses are about $5,500 - including taxes and the mortgage. Once the house is paid off (which it will be in a few years), my expenses drop to $4,100. Social security will provide $2,500 a month, leaving me with only $1,600 a month, or about $20,000 a year, to come up with. At a 4% SWR, all that's needed is a well-balanced portfolio of $500,000.

Of course, I expect medical costs to go up and also would like to enjoy life's "extras" - like travel - so I would feel comfortable with a bit more, say $800,000. Still, that is HALF the amount the author says is needed.
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Old Today, 04:52 AM
 
71,511 posts, read 71,674,131 times
Reputation: 49088
They want to pin some magic number on retirement , yet we all earned widely different incomes working .
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Old Today, 04:58 AM
 
3,336 posts, read 644,338 times
Reputation: 2319
Quote:
Originally Posted by mathjak107 View Post
They want to pin some magic number on retirement , yet we all earned widely different incomes working .
True. What about a blue-collar federal retiree, who earned $40,000 max while working, and is now living in a paid-off home in a low COLA? He would have minimal expenses, a government pension, perhaps some SS from an earlier job, and always lived modestly (given his moderate earnings). All of a sudden he needs $1.7 million?
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Old Today, 05:10 AM
 
6,239 posts, read 4,721,373 times
Reputation: 12778
This is just another piece of cr@p which the title is supposed to function as click bait and attract readers. I guess it worked.
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Old Today, 07:14 AM
 
Location: SoCal
13,216 posts, read 6,313,926 times
Reputation: 9827
13 pages for this nonsense. Everything depends on expenses. Yes, I’m in California. I can live with just SS alone, do I want to is another question.
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Old Today, 08:34 AM
 
Location: Rust'n in Tustin
2,187 posts, read 2,375,015 times
Reputation: 3849
It's easy to see by the responses who has 1.7mil, and who doesn't
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Old Today, 09:06 AM
 
Location: SoCal
13,216 posts, read 6,313,926 times
Reputation: 9827
Even more nonsense comment.
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Old Today, 09:10 AM
 
Location: Rust'n in Tustin
2,187 posts, read 2,375,015 times
Reputation: 3849
Quote:
Originally Posted by NewbieHere View Post
Even more nonsense comment.
You typify the cranky old retired guy/gal. Well done.

NOW GET OF MY LAWN, D*MN IT !!
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Old Today, 09:30 AM
 
Location: SoCal
13,216 posts, read 6,313,926 times
Reputation: 9827
Quote:
Originally Posted by ysr_racer View Post
You typify the cranky old retired guy/gal. Well done.

NOW GET OF MY LAWN, D*MN IT !!
This post reminds me that I need to go to shoot range again. You want fries with that?
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