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View Poll Results: What's your monthly budget in retirement?
Less than 5K 2 15.38%
5-6K 6 46.15%
6-7K 1 7.69%
7-8K 0 0%
8K+ 4 30.77%
Voters: 13. You may not vote on this poll

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  #1  
Old 22.05.2019, 07:33
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Poll for retirees: what's your monthly budget?

As retirement isn't that far off, and I expect a significant drop in income once the paychecks stop coming in (offset somewhat by reduced expenses such as savings), I'd like to get an anonymous overview as to what people are retiring on here, based on monthly budget. I don't know the exact figure that we'd get, but it will be over 5K and definitely below 8K per month.
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Old 22.05.2019, 07:53
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Re: Poll for retirees: what's your monthly budget?

As long as we are living in Switzerland I cannot see how costs could be further reduced. In fact, expenses will likely increase as we age.

(I'm currently, albeit hopefully temporarily, disabled and have had to hire people to do all the things I normally do to keep the household running. It's been an eye opener as to what I will need to budget for as I grow older and likely need more help.)

As I see it, our retirement budget has to be at least 100% of our current budget.*


---

*ETA

I'm using percentages of current spending rather than figures, as one's household budget is a whole lotta YMMV. Some of us already live pretty pared-down lives, some do not, and we all likely have differing requirements and goals for how we spend our latter years. Thinking of budgeting for the future in terms of percentage of current spending makes the most sense to me.

Last edited by meloncollie; 22.05.2019 at 17:36.
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Old 22.05.2019, 09:03
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Re: Poll for retirees: what's your monthly budget?

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As retirement isn't that far off, and I expect a significant drop in income once the paychecks stop coming in . . .
These paychecks are the most significant advantage of working. There may be others as well, though none come immediately to mind.


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I don't know the exact figure that we'd get, but it will be over 5K and definitely below 8K per month.
That is a very broad range. You should try to get a more concrete idea and prepare to adjust your lifestyle accordingly. If you are close to retirement, your chances of improving your retirement income may be somewhat restricted.

look at https://www.ch.ch/en/retirement-benefits/
Max AHV (state old age pension) for a couple is 42'660 or 28,440 if you are single. The minimum is half those figures.
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Old 22.05.2019, 09:18
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Re: Poll for retirees: what's your monthly budget?

Another savings comes from the money you will no longer contribute to pension plans. My last years I was contributing 12% to my second pillar. (We did have a special plan).
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Old 22.05.2019, 11:41
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Re: Poll for retirees: what's your monthly budget?

Couple of things:

You will find when you stop working you can no longer make a number of work-related deductions from you tax return - clothes, meals, travelling.

By monthly budget, I am assuming you mean what you get each month and/or spend each month. If you have savings and investments now‘s the time to dig into them and enjoy yourself - you can‘t take it with you. Go „skiing“ (spending kids‘ income)...
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