2020 Oct 16, 9:54am
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but expect to spend $135,100 per year
Al_Sharpton_for_President says but expect to spend $135,100 per yearWhat's the point in retiring, unless you an do it in Caligulan splendor?
the Charles Schwab survey found, but expect to spend $135,100 per year
Boomers on average have $920,400 saved for retirement, the Charles Schwab survey found, but expect to spend $135,100 per year
surely the average retiree doesn't plan on doubling their spending when they've already paid off their house and the kids are safely on their own.
Caligula lasted only 3 years, IIRC, so 7 is a huge improvement.
When you don't have to get up early and go to work every day you can do much more hookers and blow than when you're gainfully occupied.
Discipline takes care of a lot of these problems. Like, alternating hooker and blow days, but allowing both on Sunday.
Or, think "outside the box" and pay the hookers with blow.
Pimpin’ Ain’t Easy!
I’m not going to a 9-5 salt mine.
he put a lot of dough into a New York Life annuity which paid him $3000/month.
$135,000 a year is insane. I actually don't know anyone who will making that in retirement except a person who was in private industry and has retirement plus a multi million 401K account. Im one of those govt workers and even the division heads and higher that make $180K-230 K wont be getting $135K a year(you have to do 35+ years to get that and most are retiring at 30-32 years). Wife and I are expecting to be at $90-100K a year and will need to buy a house. We cant do it in California and will be moving to a no income tax state. We expect to live a pretty decent lifestyle. I can't imagine what people need more than that for. I only know of a few retirees from where I work who needed to go back to work. One retired too early and didn;t actually have enough income. THe other was a life train wreck and would be in trouble regardless of what her income was.
Boomers on average have $920,400 saved for retirement
For Booger, re:annuity income.My father worked until almost age 90. So, he could pay less to get $3000/month than if he were 65.He didn’t like the idea of needing to live from investments although he had some.
for a 90 year old, it would cost $186,353 for a lifetime $3000/month annuity.
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