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Looking for my ER Plan Member Opinions
Old 12-08-2010, 11:01 AM   #1
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Looking for my ER Plan Member Opinions

Hi all, and as a new member last week never really introduced myself. I was also interested in fellow members opinion here whether my ER plan is doable. I did the FIRE calc, but still have that quesy feeling of uncertainty!
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Old 12-08-2010, 11:08 AM   #2
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Welcome to the forum.

Without information on what you estimate your annual expenses to be in retirement neither you or any of us here can do anything other than guess as to how to respond to your question. Living "modestly and thriftily" is relative - what is modest to you might be extravagant to others.

Have you tracked your annual expenses and do you have an idea of how they might change once you retire?
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Old 12-08-2010, 11:17 AM   #3
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Ok thanks. I'll withdraw my details and come back another time.
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Old 12-08-2010, 12:01 PM   #4
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Ok thanks. I'll withdraw my details and come back another time.
You simply need to determine your estimated spending in retirement. Without that none of us, or you, can really answer the question.
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Old 12-08-2010, 12:12 PM   #5
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I saw your post before you removed some info and as someone who also lives in the Chicago burbs, I think you're in good shape unless you have some unusual expenses.
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Old 12-08-2010, 02:37 PM   #6
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I saw your post before you removed some info and as someone who also lives in the Chicago burbs, I think you're in good shape unless you have some unusual expenses.
Thanks Bestwife, that's exactly what I was looking for . Just a basic whether it looks feasible or not (and am not crazy), without going into detailed spending estimates (which as I said are modest). I should post my details back for other member's opinions at the same high level.
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Old 12-08-2010, 02:45 PM   #7
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........ I should post my details back for other member's opinions at the same high level.
I want to be at the same high level, too.

I think that your plan looks really great, regardless of how much you plan to spend.
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Old 12-08-2010, 02:46 PM   #8
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I want to be at the same high level, too.

I think that your plan looks really great, regardless of how much you plan to spend.
Thanks also travelover, it was just a general yea or nay from you guys. I have to say I was hesitant to post such personal details, even anonymously. So was looking for a quick thumbs up or down.
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Old 12-08-2010, 02:51 PM   #9
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observer, I have the utmost respect for bestwifeever's opinion, but you seem to be avoiding the central question: how much will you need to spend in retirement? This leads me to believe you aren't tracking your spending, something that would send alarm bells ringing were I in your situation.

I'm not being critical, simply factual. And there is no need for us on the forum to know your details, but it is very important that you know them. How much you will need to spend on an annual basis is a key detail to answering your question. You know how much you've got but you don't know how much you need...
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Old 12-08-2010, 03:11 PM   #10
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Be sure to add taxes to your expense budget when using FIREcalc.

Welcome to the forum.
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Old 12-08-2010, 03:13 PM   #11
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I have to say I was hesitant to post such personal details, even anonymously. So was looking for a quick thumbs up or down.
Rahm Emanuel, is that you? ...
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Old 12-08-2010, 03:46 PM   #12
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Rahm Emanuel, is that you? ...
Yeah, right. I think I'm nowhere near Rahm's income level. And he's probably not worried about whether he can make it in ER. Believe me, Chicago's the ONLY thing we have in common.
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Old 12-08-2010, 03:49 PM   #13
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Rahm Emanuel, is that you? ...
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Old 12-08-2010, 03:53 PM   #14
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observer, I have the utmost respect for bestwifeever's opinion, but you seem to be avoiding the central question: how much will you need to spend in retirement? This leads me to believe you aren't tracking your spending, something that would send alarm bells ringing were I in your situation.

I'm not being critical, simply factual. And there is no need for us on the forum to know your details, but it is very important that you know them. How much you will need to spend on an annual basis is a key detail to answering your question. You know how much you've got but you don't know how much you need...
Not avoiding anything, although I appreciate your concern. Spending is tracked to the point of compulsiveness... just didn't post those details. As I said, just normal but modest and thrifty spending. For most, that's easily interpreted as groceries, utilities, and basics without anything exorbitant or extravagant. But others were able to give me their high level opinions.
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Old 12-08-2010, 03:58 PM   #15
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... I have the utmost respect for bestwifeever's opinion............
Now, Travelover is another story.....
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Old 12-08-2010, 04:00 PM   #16
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observer, I have the utmost respect for bestwifeever's opinion, we all know bestwifeever has never let factual matters and the lack of hard evidence stand in the way of her often-too-positive opinion ...
Fixed it for you
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Old 12-08-2010, 04:06 PM   #17
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Not avoiding anything, although I appreciate your concern. Spending is tracked to the point of compulsiveness... just didn't post those details.
Great. If you think you have a reasonable handle on how those expenses will change once you retire and FIRECalc says you can withdraw that amount and have an 80%+ chance of survival, then I agree things look good for you.

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As I said, just normal but modest and thrifty spending.
After you hang around here for a while I think you will find your definition of what spending amount constitutes "normal and modest" differs significantly from others. We have folks who believe spending $40k per year is extravagant and others who do not believe they can survive on less than $120,000.

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But others were able to give me their high level opinions.
And those 'high level opinions' (including mine) are worth every penny you paid for them...
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Old 12-08-2010, 08:10 PM   #18
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I want to be at the same high level, too.

I think that your plan looks really great, regardless of how much you plan to spend.
Me too; it's always sunny for reasonable, moderate people. Only spendthifts, adulterers and experiencers of bad luck lose.

Ha
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