I recently completed a post-retired budget on a spreadsheet. Listed everything I could think of, then started guesstimating how much we’d spend on each item per month. Summed it, annualized it, subtracted SS, then multiplied the remainder by 1.3 to account for taxes. Then I divided the result by 0.05 to see how much I needed to generate the result in interest at 5%.
When we tip over the kids get the principal.
Looks like I’ll need to keep saving for awhile.
Edit to add, love was a line item, but I called it “gas.”
P
