Almost nothing engenders more thoughtful comment than a post by Mr. Quinn regarding post retirement income equalling 100% of your last paycheck. I say the more the merrier, however, I find my expenses much lower in retirement than during my working days. I had retirement thrust on me when I was 59, by Covid, and I've chosen not to go back to work since. My youngest, our 4th, also graduated from college in 2020. From that point going forward, I no longer had 6 cars, my car insurance was reduced by 75%, my phone bill similar, I paid off my mortgage, many other expenses reduced or disappeared, and so I wouldn't need 100% of my income at retirement to get by. Interestingly, rather than looking to downsize, I really need to upsize. With two children now married, we need more room rather than less for large family gatherings. So much of these needs, rules of thumb, etc. depend on your personal circumstances and the timing of any children in your lives. But having 100% of your last paycheck in retirement would be a very good thing if you can do it because of the flexibility it would provide.
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Almost nothing engenders more thoughtful comment than a post by Mr. Quinn regarding post retirement income equalling 100% of your last paycheck. I say the more the merrier, however, I find my expenses much lower in retirement than during my working days. I had retirement thrust on me when I was 59, by Covid, and I've chosen not to go back to work since. My youngest, our 4th, also graduated from college in 2020. From that point going forward, I no longer had 6 cars, my car insurance was reduced by 75%, my phone bill similar, I paid off my mortgage, many other expenses reduced or disappeared, and so I wouldn't need 100% of my income at retirement to get by. Interestingly, rather than looking to downsize, I really need to upsize. With two children now married, we need more room rather than less for large family gatherings. So much of these needs, rules of thumb, etc. depend on your personal circumstances and the timing of any children in your lives. But having 100% of your last paycheck in retirement would be a very good thing if you can do it because of the flexibility it would provide.
Post: What is the right percentage?
Link to comment from August 15, 2026