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I don't think there is a one size fits all answer. Just in the scope of this board there is a huge range of individual's available assets, needs, spending habits, etc. I think the one constant to get along in retirement is to always live below your means. Spend less, much less if you can, than what you have coming in. As they say, if you are in a hole, stop digging. Retirement is no place to be in the hole. Try to be ready for a catastrophe- we just had to replace both AC systems to the tune of $18,000. Stuff like that, or a new roof, $12,000.
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