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Personal Finance (Not Investing) • One more year or four more year - Motivation to retire

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Go for class of 24! Curious, Can you share your rough expenses and liquid net worth?
Providing these for the younger generation to think and use in their lives...on our financial independence...
  • Regular investment in 401 K for 20+ years
    Even though we received two pay cheques, lived a lifestyle of one pay cheque ...
Just to give back of the napkin version:
Projected expenses;
Healthcare $25,000
Groceries : $25,000
Home, vehicle insurance, tax, home maintenance : $50,000, can downsize as well...

$100 K per year as normal.expenses.. out of which Social Security may cover $40,000 ( 2 Social Security )

So the portfolio to cover $60,000 + any fancier expenses live travel \ lifestyle...

lived a frugal life with the necessities well taken care of, so do not see to spend more in retirement... even if we can spend for luxuries the portfolio will support the expenses...

Statistics: Posted by LiveSimple — Tue Jun 18, 2024 3:55 am — Replies 20 — Views 2025



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