Retirement Planning

[krishnaaa]

39 minutes ago, CherryGaru said:

 

 

Yearly expenses in USA depends on location too. 200K may be in New York or L.A. but 100-120K is more than enough in most other popular cities, lesser if you are in sub urban cities.

There are lots of variables, these ones are major that needs to be taken care before retirement : house paid off, kids college expenses taken care of, marriage expenses for kids , etc.. 

If most of the mentioned items are taken care before retirement, you only have 5-6 major expenses

1. Property taxes + car and home insurance

2.health care insurance until 65

3.food and groceries

4.Travel expenses

5.Utilites , like cell phone, water, gas, electricity, tv, etc

6.miscellaneous expenses, like new car every 5-10 years, home repairs, any major health expenses, etc

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How much you and your wife will spend on the above is subjective, that only you both can decide.

Isnt insurance expensive?

[krishnaaa]

37 minutes ago, mcdowl_murthy said:

50 lakhs in India to retire ? roju shopping pothara endi

After tax it would be less.

3 lakhs per month for a couple. Can freely travel and have decent help. You would also like to giveback as you age.

My grandparents used to spend money on their helper's kid's education.

If you are going as nri, this is very easy.

No need to settle for less.