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Old 05-01-2020, 06:21 PM
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Default Re: Why do so many assume that retirement means settling for less income?

Quote:
Originally Posted by pjohns View Post
The goal, however, need not be "full income replacement." That is because in retirement, there are far fewer expenses than previously existed: Presumably, the mortgage will have been paid off, for example.

And the kids will have grown up entirely; so there is no further need to pay (or even help pay) their college tuition.
You are making assumptions. Many people use their homes like an ATM refinancing when they want cash. The mortgage never gets paid off. Obamacare reset the age standard for independence to 26 but it can be later still.
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