I have a question for the retired Tuggers out there:
I'm 55, so I spend a good bit of time calculating when I'll be able to retire. Most of the online retirement calculators project that you will reduce your expenditures in retirement, so that you can live on say 75 or 85% of your current income.
I'm wondering how realistic that is. I can think of two things I might save money on. One, I won't be buying suits and ties. Two, I'll stop putting money away for retirement, which actually is a significant amount.
But, at the same time, my golfing expense should increase, and no doubt health expense will, too. One thing that concerns me is the cost of health insurance, which my employer pays now.
So, retired folks, were you able to live on less after retirement? Thanks!
I'm 55, so I spend a good bit of time calculating when I'll be able to retire. Most of the online retirement calculators project that you will reduce your expenditures in retirement, so that you can live on say 75 or 85% of your current income.
I'm wondering how realistic that is. I can think of two things I might save money on. One, I won't be buying suits and ties. Two, I'll stop putting money away for retirement, which actually is a significant amount.
But, at the same time, my golfing expense should increase, and no doubt health expense will, too. One thing that concerns me is the cost of health insurance, which my employer pays now.
So, retired folks, were you able to live on less after retirement? Thanks!