Retirement: " known knowns ... known unknowns ... unknown unknowns"

Here's one way not to fall short on retirement $$$

From the video: (if one makes $ 100,000)

  • If one is saving $ 10,000 per year that reduces the financial need by that amount
  • Also will not be paying payroll taxes that are 7.65% of paycheck
Channeling Rumseld's quote:
  • Known knowns:
    • While I expect to be able to save, we won't be saving & investing at our our current rate.
    • No need to pay for contracted downtown underground parking
    • We know what our social security income will be (or closely estimated)
    • We know what our pensions will be (or closely estimated)
  • Known unknowns:
    • We know our state and federal income taxes will be less. But what will be the new normal?
    • I have a general sense what our healthcare costs will be but will need to be more precise. 
    • We will not have dental insurance from our company but Delta sells individual plans. Needed?
    • Same with vision insurance. Provider. Needed?
    • How much will we need to draw from IRAs? When will we need to start?


  1. Autos: I need to have our Buick last another 7 years. Maybe more of a want than a need. I would like to see us keep it to 200,000 miles. And then buy a new or nearly new sedan.

  2. Realistically couldn't get on one. I do like fast vehicles. But have settled on my Buick at this stage of life.


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