How to Forecast Your Expenses in Retirement - 406
Your Money, Your Wealth
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Do I Want to Spend More in Retirement? Less?
So in using your example, Joe, $100,000 is living expenses. That's real easy. Just have a whatever inflation rate you want. If you don't know what to pick, maybe pick 3% just as a starting point. And then you've got the other 20,000 for principal, 20,000 For kids. So are the kids going to be out of college by the time you retire? Then great. You can drop that off. Although we do know that kids tend to come back and there are extra expenses there from personal experience. But start with your current spending, inflate that with an inflation rate that you're comfortable with. I think probably a hundred year
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