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Old 07-14-2008, 07:50 AM
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rickair7777
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Joined APC: Jan 2006
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I was pretty shocked when someone showed me the numbers based on retiring at age 60 and maintaining your existing QOL...actually I hope to travel more, so I might need more, not less, money in retirement.

Taking into account a family history of living longer than average and advances in health awareness and medicine, I need to plan to at least age 90, and probably longer.

For a typical upper-middle class professional, you need a couple million by the time you get there. You could reduce this by working longer...in addition to the income, this keeps you busy so you're not out spending all your money too soon.

In some locations your house could count as a significant source of retirement savings. You could downsize and sell it, or do a reverse mortgage. Personally, I'm going to try to keep the house out of play, that way it's available as an emergency source of funds or inheritence for the kids.
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