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March 17, 2006


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I guess Parade has never heard of inflation?

I don't like to think about retirement. I would rather focus on getting out of this routine where I have to work for someone else most of my life just so I can finally relax when my best years have gone by. I like to plan for today and tomorrow, not for 30 years from now. That's just me.

How much do you need for retirement? Can someone just give me a number. I know it's based on the standared of living you want to maintain, but really during retirement you won't need the big house (no kids will be living off of us). I hear the biggest expense during the golden years is medical. Do we need a million, two, what? Me & the hubby just turned 40 and between the two of us we have about $60k saved so far, we're both contributing 10%. What do we need to do to get to a million and will we need it, of course we'd like it, but what's realistic?

Marsha --

Sorry, there's not just one number -- you have to calculate your own. For help on how to do this, see this post:

I always believed the "experts" may be misleading us. Here's why:
a 4%-5% withdrawl rate essentally balances out the income of a well managed portfollio after inflation -- so while that nestegg may fluctuate, it may remain substancially the same forever. Excellent strategy to leave your offspring a tidy inheritance!

What if one calculates a $0. portfollio ballance at age 95? I figure the reasonable withdrawl rate would go up significantly.

Or is this just my wishful thinking?

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