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Old 04-14-2008, 05:42 PM   #1
Confused about dryer sheets
Join Date: Apr 2008
Location: Rapid City
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Hi all,
Found my way here from the Bogleheads forum. Thought I would check it out. I retired late last year at age 56. I have about $700k, invested mostly in Vanguard index funds and a Vanguard Target Retirement Fund. My only real expenses are a small mortgage and health insurance, till Medicare kicks in.

I never made much, working as a photojournalist on mid-sized daily newspapers, so I should be able to make a go of it, if the market comes back. Of course, I retired on Oct. 8, the day before the market hit its all-time high and the latest plunge into recession. I am keeping my chin up, living off the money market funds I intended to live off, as well as some freelance jobs on the side, and hoping for the markets to turn around and start generating some income. I keep telling myself it's all just paper losses for the time being.

I hope to search the forums and learn a few things. Spring arrived today - it was in the 70's, so hopefully my investments will start growing again, along with the grass and flowers!

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Old 04-14-2008, 05:58 PM   #2
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Join Date: Apr 2003
Location: Hooverville
Posts: 21,829

Are you single? The usual safe withdrawal estimate figure is 4%. Many accept this, some feel is too conservative, and some feel it is too generous. And nobody knows who is right.

If you accept it, at least provisionally, that means you have $28,000 to spend each year until your SS cuts in. I suppose if you were so inclined you could spend more until you make SS age, gambling that you will not hit truly bad markets between now and then.

Is this enough for you?

You say you have some pick-up job opportunities; these might be your real ace in the hole.


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Old 04-14-2008, 06:33 PM   #3
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Location: San Francisco
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Welcome. Many of us here read the Diehard forum as well. You'll find it to be a little more free-wheeling here, but there is a ton of good advice and a lot of variety.

Have you used FireCalc to test your number? The link is at the bottom of the page.
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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I am single
Old 04-15-2008, 09:43 AM   #4
Confused about dryer sheets
Join Date: Apr 2008
Location: Rapid City
Posts: 2
I am single

I am single with only a golden retriever for a dependent - I will run my figures through the FIREcalc tool tool.

I see the FIRE acronym around here, but haven't found the meaning yet. I assume the RE is for retirement. Can someone give me a clue.

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Old 04-15-2008, 09:45 AM   #5
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Location: Texas Hill Country
Posts: 39,198
Numbers is hard.

Retired in 2005 at age 58, no pension

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