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Old 04-20-2013, 09:45 AM   #41
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We are going to let things simmer into 2014 with a new goal of ER 2014.
Thanks again everyone! Nomad
Probably a good idea. Build up a little more cash and see how you feel about your situation then. And it's not a decision of retiring at 60 or 52. Maybe age 54-56 might be a better sweet spot for you to retire. Or perhaps a part time job might be a good way to slowly move you into retirement. Lot of options to consider.

Best of luck.
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Old 04-20-2013, 10:01 AM   #42
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Originally Posted by Dawg52 View Post

Probably a good idea. Build up a little more cash and see how you feel about your situation then. And it's not a decision of retiring at 60 or 52. Maybe age 54-56 might be a better sweet spot for you to retire. Or perhaps a part time job might be a good way to slowly move you into retirement. Lot of options to consider.

Best of luck.
Thank you!
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Old 04-20-2013, 10:19 AM   #43
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I'm a little late to the game here, but the low spend rate concerns me also. I'm planning on expenses of 88k of which 29k is for health care. Its probably overkill but I know that once I leave megacorp that I'll never find another job at my salary, and that it would take a year or two to find another "decent" paying job (50 - 70% below current salary). I tend to err on the side of caution since I think ER is a one way street. If it turns out that I come in underbudget my plan is to spend 25% of it and use the other 75% to add greater cushion to my numbers. I'd rather give myself a "good problem to have" rather than create cause for worry.

As others have suggested, another 2 - 4 years may be more than enough to get to a good comfort level.
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Old 04-20-2013, 10:46 AM   #44
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I'm a little late to the game here, but the low spend rate concerns me also. I'm planning on expenses of 88k of which 29k is for health care. Its probably overkill but I know that once I leave megacorp that I'll never find another job at my salary, and that it would take a year or two to find another "decent" paying job (50 - 70% below current salary). I tend to err on the side of caution since I think ER is a one way street. If it turns out that I come in underbudget my plan is to spend 25% of it and use the other 75% to add greater cushion to my numbers. I'd rather give myself a "good problem to have" rather than create cause for worry.

As others have suggested, another 2 - 4 years may be more than enough to get to a good comfort level.
Your points are very similar to others. Seeking a slowdown might be wiser than a full blown ER for a couple of years.

We are excited that other than a car and small student loan, we have no debt and no mortgage. So we are full speed ahead on maximizing our savings.

Our big challenge, like others here, is to control our BS bucket.

Thanks again!
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Old 04-20-2013, 12:19 PM   #45
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Without a mortgage or auto loan our expense level will be set to $40K of taxable income with HI. While we will have the ability for draw more if necessary from non-taxable income sources for major purchases or repairs. That allows me to budget 9.5% of MAGI for ACA HI premiums. Planning to FIRE at the end of 2014.
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Old 04-20-2013, 12:24 PM   #46
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Our big challenge, like others here, is to control our BS bucket.
I hear that ! My BS bucket is filled to the brim and about ready to overflow, which is why I'm ER'ing this year even though the Monte Carlo simulators "only" give me a 90% success rate to age 90 (100% with FIRECalc).

I'm contemplating taking on a part time j*b (assuming I can get one) to earn about 5k a year for the next 10 years. Its amazing how even that little bit of extra earnings impacts the success results. Of course there's the risk that the BS in the PT j*b will be nearly as bad as the current BS ... but then again, I worry too much
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 04-20-2013, 01:57 PM   #47
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I hear that ! My BS bucket is filled to the brim and about ready to overflow, which is why I'm ER'ing this year even though the Monte Carlo simulators "only" give me a 90% success rate to age 90 (100% with FIRECalc).

I'm contemplating taking on a part time j*b (assuming I can get one) to earn about 5k a year for the next 10 years. Its amazing how even that little bit of extra earnings impacts the success results. Of course there's the risk that the BS in the PT j*b will be nearly as bad as the current BS ... but then again, I worry too much
At least if the PT job is bad you can roll into another. I am hoping for 2014. Even a scaled back FT job in a new location creates some relief-- I hope! -Nomad
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