Standard of living in retirement also has a lot to do with calculating how much one will need. We have a high standard of living, but with our home in RSF paid off, all medical paid, free travel, and other benefits we’ve accrued, we’ll actually be able to maintain our chosen standard of living at a very low cost, and we won’t be touching our retirement funds until we’re in our 60’s.
Everyone has a different concept of how they want to live in retirement. When someone says they can easily live on a certain dollar amount in retirement that’s great, as long as they are living the way they really want to live. To me, living your dreams is what retirement is really all about. That–and providing for your family for generations to come.
