S. B. over at Retire at 45 has an interesting post discussing the 80 percent income recommendation for retirement. The post got me thinking. I recall seeing the 80 percent recommendation prior to when I retired. At the time I thought it seemed too high. I don't think my income is even close to 80 percent. I will have to review my numbers and post them for comparison.
Anyone know the assumptions behind the 80 percent?
ps. Stock Market: Both the Dow Jones Ind Average and TSX S&P/Comp charts continue to look weak.
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Most people will need no where near the 80% that financial advisors are preaching about. If all debt is paid off prior to retirement, i'd say that most people will need 40%-60% of pre-retirement income. I did an analysis on my website under "popular articles" on the right hand side regarding early retirement and the expenses expected. Swing by and check it out.
FT
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