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I have a great financial planner. One of our first meetings he asks about retirement and end of life goals such a preservation of capital, inheritance, legacy, charity etc... My single goal is to bounce the check to the undertaker.
Quoted from wtatumjr:SS is taxable but if you rely on it alone you will pay little tax. It's when you add other income like a 401k things can get worse.
I bought a resort property years ago and rented it out to pay for it. When I retired I moved to the beach property.
The one surprise for me is how little income I need in retirement as I owe nothing for housing or cars. So just because you might need $120k household income now you won't need anything near that in retirement- if you can stand not having that new car.
One of my largest pre retirement expenses is the funding of my retirement. Another discontinuing expense.
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Ashland, NE