How Much Money Will I Need to Retire Comfortably?
By Chris Dixon, Oxford Advisory Group
A: Most retirees can maintain their lifestyle with about 70% to 80% of their pre-retirement income, but there isn’t one “magic number.” Your comfort level depends on where you live, how much you spend, and how efficiently your income and savings are structured for retirement.
The Real “Retirement Number” Is Personal
Every retiree’s number is different. A couple living in Lakeland or Jacksonville may face very different costs than someone in Orlando or Sarasota. Factors like mortgage status, travel plans, and healthcare expenses shape your income needs.
At Oxford Advisory Group, we often find that focusing on income planning — not just savings totals — helps retirees see a clearer picture of what “comfortable” looks like for them.
It’s About Income Streams, Not Just Savings
Your ability to retire comfortably depends on how your income is built. Social Security, pensions, annuities, and investment withdrawals may be coordinated, aiming to provide a reliable income that covers essentials. The more tax-efficient those income streams are, the more spending power you may keep.
Taxes and Inflation Change the Equation
Even if you’ve saved well, rising prices and taxes can erode purchasing power. We aim to help retirees across Florida structure income and investments in ways designed to help better manage taxes and inflation over time.
Build Flexibility Into Your Plan
Comfortable retirement isn’t about hitting a static target — it’s about creating flexibility. A balanced mix of secure income and growth potential allows you to better adapt as life, markets, and goals evolve.
Key Takeaway
Your retirement number isn’t universal. It’s personal, flexible, and best defined by the lifestyle you want and the efficiency of your income plan. You may want to start with a simple monthly budget, then try and coordinate what types of income you have, and what those taxes may be.
Calculate your Retirement Tax – Free Calculator
Ready to Take The Next Step?
For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.
