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Retirement
How to Determine Your Future Expenses
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[QUOTE="Suba, post: 346879, member: 3658"] I agree with your explanation about to determine your retirement, where our income has decreased, we need to make plans such as calculating average expenses per month, so that you can easily estimate the future expenses. The easiest strategy is to use 80% of current expenses, so if expenses are $1000 per month then expenses in retirement will be $800, this estimate already eliminates car installments, mortgage debt, children's education costs etc. But don't forget to add inflation of around 5% each year. So in the second year the future (old) costs are $840, the third year is $924 and so on. [/QUOTE]
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