Hey everyone. I used to spend a lot more time around here for several years and I learned a lot, but then I kind of coasted for awhile and stopped reading as voraciously. This is a question that came to mind yesterday though.
The title basically says it all… how do I budget for something as distant and unpredictable as retirement? What are fairly safe assumptions to make? For example I can safely expect to pay basically no income (Roth IRA) but what else? I have a mortgage on a home right now, is it safe to say that if I continue owning one house or another, I can eliminate house payments from my retirement expenses?
How do I choose a retirement age, assuming it isn’t chosen for me? The sort of work I do (classical music/teaching music) isn’t the sort of thing that I think I’ll be eager to drop as soon as possible but perhaps I’m not thinking about it clearly enough.
Is it irresponsible to count on receiving some social security? Should I ignore that and just treat it as a nice bonus if it happens?
Does the fact that I’m self-employed change any assumptions that I should make?
Submitted July 02, 2021 at 09:49AM by SocialIssuesAhoy https://ift.tt/3hvpx1M
