How much after tax income do you need in retirement (PPOR paid off)?

How much after tax income do you need in retirement (PPOR paid off)?

  • $0/week - $100/week

    Votes: 2 1.1%
  • $100/week - $200/week

    Votes: 0 0.0%
  • $200/week - $300/week

    Votes: 3 1.6%
  • $300/week - $400/week

    Votes: 1 0.5%
  • $400/week - $500/week

    Votes: 4 2.1%
  • $500/week - $700/week

    Votes: 21 11.2%
  • $700/week - $1000/week

    Votes: 27 14.4%
  • $1000/week - $1500/week

    Votes: 52 27.8%
  • $1500/week - $2500/week

    Votes: 41 21.9%
  • $2500/week - $3500/week

    Votes: 13 7.0%
  • $3500/week +

    Votes: 23 12.3%

  • Total voters
    187
Tend to agree with others re 'need & want'. Two very different sets of figures for each.

Anyway, could probably do it on 1K per week but would prefer to be on 2K per week.

Regards
Marty
 
Gee. I did a budget last night actually. I included buying a new car on retirement and again 10 years later, plus $20K a year for travel, a cleaner, life insurance, extra heath care costs cause we'll be older - everything I could think of, and I came up with $140K ($2700/week) in today's money. Ouch. Granted it was how I 'want' to live but isn't far removed from what we spend now (!). We need to tighten our belts. I just did another one trying to be a bit tighter and came up with $100K a year.
 
As I noted in the other related thread, I am aiming for $150k per year in 2005 dollar terms (approx $250k per year in 12 years time).

I figure I'll still have the ability to work for 20-25 years MORE at the time I am planning to retire, so I figure I'll just do a few years more of working if it looks like I won't make it.

I'm currently ahead of schedule, though.
 
may as well change the thread to 'How much after tax income are you aiming for in retirement?' since that seems like what everyone is answering (guess its easier to show off how well you're doing that way)
 
I don't know....:eek:

It's....the question is ...I'm just not sure, I don't think I'm particularly good at quantifying things "this way"....I am enjoying accumulating appreciating assets, I will have financial independence, I just want to keep doing this, and would like to keep any figures open ended...

I want to be a little grey headed Nanna, researching and closing deals after/in between, good sex, shimmying up rock faces, and enjoying skinny lattees, roaring around on my motor x bike through sand dunes, and racing horses..and some other things...ya know?

Don't fence me in.:)
 
Wow alot of modest people here.
My goal is 10 times average australian incomes. At current levels this is around $500k p.a
I really dont care if my PPOR is paid off or not, its the income stream i'm looking for.
 
I voted between $200-$300 a week.
Having fun doesn't need to cost a lot.
Generally the thrill is in getting the bargain.

As our debt is paid down , our disposable income will rise, unless we keep buying.
 
I'll take what I can get :D
To me, the allure of not having to turn up to work is the real carrot.


If I 'retire' now, my income for the first year would be around the same as my j.o.b income. Which is pretty good (for me anyway,) and it's all I really need. Everyone 'wants' more income, and if thats your choice then it's really not that hard to get. Just takes a little more time and effort.

My Father worked very hard all his life to retire with an income he had whilst working. Quite a decent amount of property assets also but does not count the capital. Only rental income.
 
I find it interesting that out of 9 options (no one seems to be opting for the first 2) that 1/3 of people have chosen $1000-$1500. Seems curious considering the wildly different circumstances/plans/lifestyle between people. I am guessing there is something about that round $1000/wk number.
 
I find it interesting that out of 9 options (no one seems to be opting for the first 2) that 1/3 of people have chosen $1000-$1500. Seems curious considering the wildly different circumstances/plans/lifestyle between people. I am guessing there is something about that round $1000/wk number.

This was my thought exactly..is there some sort of emotional attachment to a four digit income??? I remember ringing my mum when I started making 1000 clear per fortnight and then ringing her again at 1000 clear per week. It certainly was "an achievement" for me....now I think different.
 
An interesting poll following up on the popular thread of late.

Details:
After tax amount.
Car/s and PPOR paid off.
Rates about $3000/year
You and partner only.

Please be realistic...

Hard to quantify, because everyone's idea of a lifestyle is different.

One of my mates has to have all designer label clothes, won't drive anything under $60k and so on. He will never change while his bum points to the ground.

His retirement will be expensive.

We - on the other hand - couldn't care less about clothes; I'm a total disaster for menswear shops, and so is my wife generally. Our cars are older and not bought new. We dress well, but our wardrobe is cheaper end.

But we are worth more than him, and we live a very pleasant (but inexpensive) life.

Our retirement will be very easy to fund, unless we decide we need to go on cruises every 3 months and the like.

We are more likely to go on camping trips with our sons and friends, stay in elcheapo "cosy" cabins etc.

Why? not because we can't afford 5 star - been there and done it, and it's nice from time to time - but because we like to rough it and live near nature a bit more. Nothing better than sitting out in front of the open fire by the tent with a glass of something intoxicating.

Having said all this, I'm out for as much spondoola as I can get my hands on.

This will allow me to choose - 5 star or 2 star.

And, hopefully enough left over to help out a few others less fortunate, or shout the friends to a trip or two. ;)
 
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i'd like to be on the $1.5-2k/week purely because i really want to do some serious travelling - not skimp on where we go and what we do (been there done that couldn't afford the t-shirt) - and having just paid a house and contents insurance bill of $800 today, with car rego/ins/slips due next month, utilities rising, phone and internet etc etc ... i want to live comfortably and not worry about anything breaking down.
 
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