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Re: ARe you aiming at a date or a sum?
Old 12-05-2006, 03:18 PM   #41
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Re: ARe you aiming at a date or a sum?

Quote:
Originally Posted by Corporateburnout
Are these numbers your expected NW or liquid investments?

I am looking at the same numbers (1.3MM) in investments in 3 years or whenever I get there. My house (currently worth 500K) will be free and clear then.
Investable assets in my portfolio (taxable+401ks+IRAs). Doesn't include my house. It'll only be ~10% of the value of my portfolio, but should be free and clear of the mortgage in 8 yrs or so.
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Re: ARe you aiming at a date or a sum?
Old 12-05-2006, 03:21 PM   #42
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Re: ARe you aiming at a date or a sum?

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Originally Posted by justin
Investable assets in my portfolio (taxable+401ks+IRAs). Doesn't include my house. It'll only be ~10% of the value of my portfolio, but should be free and clear of the mortgage in 8 yrs or so.
The $1.35 million figure was what I would need to fund the expenses I want at a 4% SWR. I played with firecalc and got good success with a little higher withdrawal rate that included a fixed, inflation indexed withdrawal plus a variable % of assets based withdrawal. I could either retire on a little less and scrimp in down years, or retire with the same $1.35 million, and live the high life during good years. At this point in the game (7+ yrs out), I'm not even sure of my withdrawal strategy and the risks inherent in my choice.
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 03:27 PM   #43
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Re: Are you aiming at a date or a sum?

I have a date in mind (my federal eligibility for retirement), but i take that very loosely. The reason i do is because I do not want to lose focus on being happy as I can possibly be today. I just think it would be a complete tragedy to be focused on some future time, to occur years from now when i'll be "retired and set free".

For me, I just put in place the savings measures to have my retirement happen when i want it to, then I completely put it out of mind as much as possible and just enjoy today. TODAY i am young and healthy, and I just dont want to waste some of my best years hoping for some date to come when i'll be much older. Just the thought of even waiting 3-5 years (or much more in my case) for some future date seems really sad to me.

So my advise to all? Pick a date or a sum, but like that infomercial says, ..... set it and forget about it!

Azanon
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 03:31 PM   #44
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Re: Are you aiming at a date or a sum?

Neither date nor sum. Prior to ER I saved as much as I could all of the time until it hurt. Then I saved some more. If the pain did not go away (it often did) then I would back off of the savings a bit, however I never stopped saving/investing no matter how tough it got.

My goal was simply: Save as much as possible for retirement. A little pain now, a lot of fun later.
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 05:00 PM   #45
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Re: Are you aiming at a date or a sum?

I've had an Amount in mind for several years now. I'm finally getting close to the amount that I targeted and it couldn't have happened at a better time because my company plans to layoff about 1700 people during the first half of 2007 and I suspect they've now chosen a Date for me.
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Re: ARe you aiming at a date or a sum?
Old 12-05-2006, 05:14 PM   #46
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Re: ARe you aiming at a date or a sum?

Quote:
Originally Posted by Gumby
However, I do foresee a debate (at least in my own mind) about retiring while the young wife is still in harness.
Oh, you'll get accustomed to it.

And if you cook & clean then she'll get accustomed to it too. Maybe even come to love it...

Quote:
Originally Posted by Sam
If for some reason that date is delayed, so would my retirement, accordingly. Anyone in this same situation? I don't feel comfortable giving up work until the kids are properly launched.
The heck with med school. Over half of today's 20-something college graduates are living with their parents. It seems unfair to delay a retirement waiting for our kids to find their own assets with both hands.

Quote:
Originally Posted by Corporateburnout
Are these numbers your expected NW or liquid investments?
Oy, here we go again. And would that include home equity?!?
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 08:47 PM   #47
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Re: Are you aiming at a date or a sum?

Quote:
Originally Posted by Azanon
So my advise to all? Pick a date or a sum, but like that infomercial says, ..... set it and forget about it!
Azanon
That's a good advice. We should live for the present and stop worrying so much about the future. It's easier when one has a steady or secured job working for the federal government with pension and benefits.
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 08:49 PM   #48
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Re: Are you aiming at a date or a sum?

Quote:
Originally Posted by SamHouston
I've had an Amount in mind for several years now. I'm finally getting close to the amount that I targeted and it couldn't have happened at a better time because my company plans to layoff about 1700 people during the first half of 2007 and I suspect they've now chosen a Date for me.
Hopefully, they will offer attractive buy-out financial packages.
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Re: ARe you aiming at a date or a sum?
Old 12-05-2006, 09:21 PM   #49
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Re: ARe you aiming at a date or a sum?

Quote:
Originally Posted by Sam
I aim for both. It looks like they'll both arrive at the same time. However, the deciding factor will be neither. I have two children, they are supposed to have sucessfully finished their bachelor degree in 5 years. If for some reason that date is delayed, so would my retirement, accordingly. Anyone in this same situation? I don't feel comfortable giving up work until the kids are properly launched.
Sam,
Could not agree with you more. During the next 6 years, I will have 2 kids in college at the same time, with no help. Goal is to get through this and then re-evaluate.
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 09:48 PM   #50
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Re: Are you aiming at a date or a sum?

Quote:
Originally Posted by SamHouston

I've had an Amount in mind for several years now. I'm finally getting close to the amount that I targeted and it couldn't have happened at a better time because my company plans to layoff about 1700 people during the first half of 2007 and I suspect they've now chosen a Date for me.
" The best laid plans..."

One can never have enough $$.

I originally planned to retire next year at age 55,
then I thought... oh well... just keep working for
another year or so for the extra $$.

But now there are major disturbing changes
happening to my job in 2007.

Back to my original plan.

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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 10:06 PM   #51
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Re: Are you aiming at a date or a sum?

A good book on this subject is:

"The Number" by Lee Eisenberg

See: http://thenumberbook.com

I enjoyed it.
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Re: ARe you aiming at a date or a sum?
Old 12-05-2006, 10:07 PM   #52
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Re: ARe you aiming at a date or a sum?

Quote:
Originally Posted by Arc
Sam,
Could not agree with you more. During the next 6 years, I will have 2 kids in college at the same time, with no help. Goal is to get through this and then re-evaluate.
Good to hear from someone in the same situation. Spanky too, will be in the same boat.

Quote:
Originally Posted by Nords
The heck with med school. Over half of today's 20-something college graduates are living with their parents. It seems unfair to delay a retirement waiting for our kids to find their own assets with both hands.
I hear you Nords. I firmly told my kids that graduate study is their responsibility. However, to myself, I said I would try to pitch in. I just couldn't help thinking about the miserable time I had financially while going through college.
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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 10:11 PM   #53
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Re: Are you aiming at a date or a sum?

Quote:
Originally Posted by OkieTexan
A good book on this subject is:

"The Number" by Lee Eisenberg

See: http://thenumberbook.com

I enjoyed it.
See the discussion in this thread: http://early-retirement.org/forums/i...p?topic=5422.0

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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 10:40 PM   #54
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Re: Are you aiming at a date or a sum?

Well, the book certainly stimulated a lively thread! I liked the joke about why lawyers are buried at the 12 ft. level! :-)

Thanks for showing me the thread!



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Re: Are you aiming at a date or a sum?
Old 12-05-2006, 11:11 PM   #55
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Re: Are you aiming at a date or a sum?

"If I owned Texas and Hell, I would rent out Texas and live in Hell." - Philip Sheridan
--------------------------------

Phil Sheridan was a drunk during the Civil War and served at Fort Duncan near what is now Eagle Pass (Piedras Negras). Maybe that is why he thought that way!


The main message I got from the "Number Book" was that no number is going to make retirement a cake walk! But worrying about it won't either! There are as many variations of the number as there are examples of our expectations from retirement.

It was a decent read.
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Re: Are you aiming at a date or a sum?
Old 12-06-2006, 07:00 AM   #56
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Re: Are you aiming at a date or a sum?


O-T or anyone else who's a fan of lawyer jokes, here are some more including the 12 ft one. (I was married to one for all those years before ER, though she was one of the good ones!)

http://www.wakelydam.com/lawyers.html
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Re: Are you aiming at a date or a sum?
Old 12-06-2006, 08:11 AM   #57
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Re: Are you aiming at a date or a sum?

Rich - it shoulda' been a poll...

Anyway, We set a number, then reached it, then bumped it up, then reached that. So now we have set a date - which is based on when we want to leave the work and projects we are doing at work.

It takes some time to mentally work up to the idea for us.
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Re: Are you aiming at a date or a sum?
Old 12-06-2006, 08:15 AM   #58
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Re: Are you aiming at a date or a sum?

I had a date and an amount, I'm hoping to reach the amount before the date, if I do the date will change.
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Re: Are you aiming at a date or a sum?
Old 12-06-2006, 08:19 AM   #59
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Re: Are you aiming at a date or a sum?

Quote:
That's a good advice. We should live for the present and stop worrying so much about the future. It's easier when one has a steady or secured job working for the federal government with pension and benefits.
True, but I hope you're not suggesting they're difficult to get. Any reasonably qualified individual could get a federal job with a modest amount of effort and a willingness to move if need be.
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Re: Are you aiming at a date or a sum?
Old 12-06-2006, 08:32 AM   #60
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Re: Are you aiming at a date or a sum?

Hmmm Hindsight being what it is:

Planned on 1.3 mil in 2006 at age 63. Was canned, layed off, made redundant Jan 1993 with 300k his and hers plus a 50k duplex at age 49.

So post Katrina and one tornado. Net worth after 13 going into 14 yrs of ER - ballpark 1.1 mil. in financial stuff.

Time in the market and all that rot - plus da 90's was a good decade.

Had I not been unemployed - I'd probably be still working and wondering whether I had enough to retire.

Heh heh heh heh - don't underestimate the mental difficulty of making the leap once you get handgrenade close nest egg wise.

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