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Old 02-19-2015, 06:17 AM   #21
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All the bills get paid and there's more money in the portfolio than there was at the beginning of the year.
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Old 02-19-2015, 08:48 AM   #22
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I'm surprised nobody has mentioned FIRECALC, which takes into consideration how many years you likely have left, if you expect SS benefits, your AA, and other stuff.

How about this for a Definition of Financial Independence: When FIRECALC gives me a (high enough)* success rate.

* Don't want to get into that debate!
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Old 02-19-2015, 03:22 PM   #23
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* Don't want to get into that debate!
When chances of running out of money by a certain age are << than the chance of living to that age?
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Old 02-20-2015, 09:30 AM   #24
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Thanks everyone! This has been a big help.
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Old 02-20-2015, 08:40 PM   #25
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When chances of running out of money by a certain age are << than the chance of living to that age?
It's the definition of "<<" that usually is "discussed", but point wasn't as important in this discussion.
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Old 02-21-2015, 09:41 AM   #26
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As long as you haven't stretched for yield by buying all MLPs, REITs, and high-yield bonds I think you're solid.



Quote:
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Hi All,

I am a recent early retiree. I currently have 30% more interest and dividend income than my annual expenses. I reinvest the surplus in order to compound it.

I wrestle with the real definition of what true financial independence is. I've read multiple times that it is when your passive income eclipses your expenses. The problem I have with this is that there is no wiggle room.

Does anyone have an opinion on this or their own definition? How do you know if you truly have enough?
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