Need to factor in pensions and Social Security into the mix.
That can bump up the number quite a bit. We have no mortgage, property taxes are just under $400/year. All-ele tric utilities are about $95-105. Water and garbage is another $80. Car insurance is $125 for two not new cars.
Homeowners is about $300/month. Cable, internet, and phone is about $280.
We end up saving $5-800/month
We also have about $400k in 401k. We each also have about
$40,000 in our separate checking/savings accounts.
my property taxes are close to $7000....
I tend to agree with you. Our retirement income exceeds by far our expenses. The money we are forced to take out of our IRA each year is put right back into a different investment.
One’s retirement income is a determining factor in one’s quality of life. With a good income one can own very little and still be happy.
Don’t worry, the financials sites cycle around doing a “what’s the average/median net worth” to “what’s the average/median retirement savings & expected retirement income” and “what’s the average/median yearly income” as filler material, so wait a day or three or scan back on the page and you’ll find one of those.