How Much Income Do I Need In Retirement? || Understanding The Replacement Ratio

[@bernie9728]

How can you not know the answer to this question? I've been retired for going on 8 years now. My wife followed two years later. So far we have not spent any of our retirement savings. I have zero fear of running out of money. That said, I am looking a new motor home so we might have to tap into our savings to pull that one off. On a side note: We have never worried about, or considered inflation when thinking about money. Control what your can control and don't worry about the rest.

[@yourfinancialekg]

Great advice!

[@themonogrammom]

I think what you are saying is the number you calculate using 80% or 60% is in todays dollars? So it would need to be inflated to catch up to the year in which you start to take retirement funds?

[@yourfinancialekg]

Bingo!

[@sirguy6678]

Do refrigerators still come in boxes?

[@yourfinancialekg]

I think so?

[@scottwilbanks9888]

How much does it cost to have a ekg done?

[@yourfinancialekg]

Please contact us at [e-mail] for a full breakdown. Thank you!

[@jerrylabat550]

Replacement ratio is totally useless... spending is based upon expenses, which may or may not relate to income. So there is no reason to pretend that inflation has any impact on it, since it is an incorrect number to start with

[@yourfinancialekg]

Not useless, just a rule of thumb. Thanks for watching!