Thanks for your replies. I have put these numbers from two main sources

1) MMM Family spending 2015, 2016 which came to about 17k on the average; If we subtract home owner expenses and add rent it roughly comes to 24k

https://www.mrmoneymustache.com/2017/05/19/2016-spending/2) Rootofgood's family spending: If we reduce his 10k travel expenses to 1.2k and 9k one time car expenses to expected 2.5k, and then replace Homeowner expenses with rent his expenses come to 28k.

https://rootofgood.com/early-retirement-40000-per-year/I noticed the below points from your feedback

- As kids grow (teens) the expenses can increase

- Healthcare expenses can be unpredictable

- Someone else pointed that kids eventually leave so there is some leeway there

- Also there is social security buffer

If we add 300 for growing kids and 700 for healthcare a total of 1000, we are looking at 3.5k per month or 4k per month. This is like 40 - 48k per year. Don't forget this also includes a 300$ unexpected expenses fee, so this seems very safe for me.

So a 1 - 1.2M plus if we want to share kids tuition then add 100k per kid. This will leave us with surplus amount once kids move out and more surplus once SS kicks in. The amount thus left out can always be used to give kids as inheritance.

**1.2 M** (assuming we are helping kids college) seems to be the latest number.

If we are looking at a bare minimum number, then it will be

**850k** under following assumptions

- Not paying for kids college. If we have excess by the time SS kicks in then can pay some loans

- Yearly expenses of 40k till kids are home and then 36k there after. This will leave us with 650k by the time SS kicks in. If we instead decide to move overseas (mexico, thailand) once kids move out then we will have 800k when SS kicks in

All of this assumes a 4% return from market