Poll: How much are you planning to spend yearly in retirement?

[childay]

Including taxes

[Cubicle]

Wait... $51-$100k isn't reasonable? Heck I spend less than $100k now including my mortgage.

[HikingDO]

Why do I have a feeling that this is going to turn into a “I can spend less than you” thread?

[bovie]

Guessing this is in today’s dollars, for today’s purchasing power?

[Tim]

Depends. Plan for the worst case and hope for the best.

If there is anyway possible, when I saw this I thought it would be a cool exit.
https://www.imdb.com/video/vi3367043...f_=tt_pr_ov_vi
Tail end weighted.

[Larry Ragman]

This topic came up tangentially on the retirement asset allocation thread started by Hatton. I think $180k, which is more than I spend now after all my taxes and savings. Some of the replies there made me reconsider to something more like $200K in order to cover a few expenses that might go higher than I expect - say travel and healthcare. This is one reason I may hire a fee only planner when I get closer. I want to look at the tax impacts of my withdrawal strategy, including IRMMA and Roth conversions.

[Lordosis]

Wait... $51-$100k isn't reasonable? Heck I spend less than $100k now including my mortgage.

I thought you had a fleet of fancy cars?

[Dusn]

Am I correct in my understanding that if you spend <$100k in retirement you can most likely keep your capital gains taxes at zero by keeping “income” + realized capital gains under that threshold. At higher levels of realized gains/income you might be looking at a 15 or 20% CG tax on ALL your capital gains (ie the CG taxes are not graduated, once you reach a certain income threshold they apply to ALL CGs?)

[CordMcNally]

$240k is what we build our plan around. It's a bit over twice what we spend now. I'm sure we'll probably spend less and end up with even more but there's worse things in the world.

[JBME]

Am I correct in my understanding that if you spend <$100k in retirement you can most likely keep your capital gains taxes at zero by keeping “income” + realized capital gains under that threshold. At higher levels of realized gains/income you might be looking at a 15 or 20% CG tax on ALL your capital gains (ie the CG taxes are not graduated, once you reach a certain income threshold they apply to ALL CGs?)

If you're married, yes this is right. In fact your spending can be quite a bit more than $100k. Here are some articles about it:

https://www.physicianonfire.com/the-...ly-retirement/

https://www.physicianonfire.com/pay-0-income-tax/

[Larry Ragman]

Am I correct in my understanding that if you spend <$100k in retirement you can most likely keep your capital gains taxes at zero by keeping “income” + realized capital gains under that threshold. At higher levels of realized gains/income you might be looking at a 15 or 20% CG tax on ALL your capital gains (ie the CG taxes are not graduated, once you reach a certain income threshold they apply to ALL CGs?)

Yes, more or less. POF has a whole post on this, as does FIPhysician.

[Random1]

We spend about 100k now, with no long term debt. I would expect healthcare premiums will add substantially to the number and also early retirement travel , when ever we get out of the pandemic.

This also does not include unexpected , but expected items, such as large house repairs , which are hard to budget for.

[FIREshrink]

Am I correct in my understanding that if you spend <$100k in retirement you can most likely keep your capital gains taxes at zero by keeping “income” + realized capital gains under that threshold. At higher levels of realized gains/income you might be looking at a 15 or 20% CG tax on ALL your capital gains (ie the CG taxes are not graduated, once you reach a certain income threshold they apply to ALL CGs?)

Maybe but with a low-mid seven figure taxable portfolio your dividends alone are going to be > $100k, throw in RMDs, SS, whatever else and that's unlikely to happen if you've been a successful investor doc.

[Hatton]

I just posted on the other thread that my spending in retirement during the last 12 months is $72k not including taxes. However I also bought a new car for 56 but but sold an old one for 14K. I only went on one trip. Taxes are higher due to Roth conversions and selling off some legacy mutual funds with large imbedded gains. It should be noted that this spending for one person who owns her home. Once you own your home and resist the temptation to constantly update furniture and home appliances spending in retirement is not huge unless you constantly travel.

[pysibal]

Estimated that w/o home/student loan/kid's college payments we could live exactly the life we have now on about 90k -100k in today's dollars. It's about 35% of my pretax income (spouse's income is much lower and variable, not included).