[Harmless Teddy Bear]

No. Most of them own the place where they live and they don't buy much so their expenses are not that high.

Their car may be in good condition but it is older, paid for, they don't commute so their driving is minimal and they don't need "good" work clothes.

When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.

[oh8eleven]

When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.
Amen. For five to seven years before I retired, I kept on reading/hearing all the "experts" squawking about how you needed at LEAST 80% of your current income to maintain your lifestyle.
As retirement got closer and my finances more clear (and not even close to 80%), it dawned on me that the "experts" were all in the finance/investment industry and were just trying to take my money.

[Grams A]

When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.”

Now if we could only do something about property taxes, school taxes and mandatory insurance on the residence all of which keep increasing every year, we would be fine. My taxes and insurance cost way more than my house payment ever did.