$69,000 not enough?

[tcar]

$69k in Albuquerque would be just fine...

[dan88911]

I think that number will keep you in the 15% federal tax rate. Don't know what your state rate would be.

[flatbutt]

Originally Posted by RWebb

frugal tastes - likelihood of change in that?

no dependents (? - you said live alone)

projected length of time your money must last?

health care costs might skyrocket esp. if nothing is done to contain them

taxes are bound to go up; even the mortgage deduction might be hit (tho I suspect that is not real likely)

prospect of future income? - i.e. a surgeon can't work if they have the old-age shakes, but a radiologist or attorney could

what are you living on right now (we don't need your exact figure, but just some relative figure w.r.t. the $70,000/year they are telling you)

Thanks guys . I was outa town for a bit with no net.
My tastes have always been simple . I don't see that ever changing.
Yes on my own, kids grown and gone.
Men in my family never last more 82/84 years so I figure 20 years in retirement.
I can currently get by on $50k. Not luxurious. No blow,no hookers. But warm and dry and fed.

[wdfifteen]

Originally Posted by flatbutt

Hmmm, considering all of my retirement savings, 401k, stocks,bonds and projected soc sec if it still exits, I could have a yearly retirement around $69,000. But two advisors have said that's not enough! I'm thinking they're trying to up their commissions in some way. Sure, I'd be happy to take more but really, $69K not enough?I won't have much mortgage left, I live alone and have frugal tastes.

Talking to advisers who make commissions off of their advice is a bad idea. Go to a fee-only financial adviser, please. They charge you a transparent fee up front for their advice instead of slowly bleeding you by taking commissions and fees out of your investments with them. It can look expensive, but it doesn't have to be. Some charge by the hour ( a good one-time evaluation with advice will cost you $700 - $900). Some charge a percentage of your assets and that CAN get spendy. I like the pay by the hour guys. I hit one every three years for a "tune up" and they have saved me a pantload that I used to pay in hidden fees and charges to investment companies and "free" advisers.