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Got a rental rehab and a few home-improvement projects to catch up on, but after last year's portfolio returns there's certainly a little slack in the capital expenses department...
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* For more info see "About Me" in my profile.
Below as I am living off of after tax investments yet and growing the pot a bit. Anticipate starting 72T dist in 08 or 09. The bigger that pot gets the less stress I will have over finances. The old widows philosphy about having a stuffed mattress.
So, not only do many people on this board plan for their money to last well into their 80's and 90's and beyond (despite the fact that the average life expectancy is 78)....
So, not only do many people on this board plan for their money to last well into their 80's and 90's and beyond (despite the fact that the average life expectancy is 78)....
This is really a conservative bunch! :
Maybe, but we're definitely all above average!
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* For more info see "About Me" in my profile.
This is really a conservative bunch! : I wish my parents were like you guys because I would be in line for a very nice inheritence.
My parents' first year of retirement from the military (when they started new jobs) they spent 2% of their income on personal expenses, not including the mortgage payment which was another couple %... that's probably some kind of record... an inheritance is nice but their frugality definitely rubbed off on me in a serious way and consequently I feel uncomfortable unless I am living far below my means. For example, I get really uncomfortable sitting in a brand new car that is for sale on a lot... or buying clothes at an upper end department store... etc... sometimes I wish I could feel a little more free with my spending, but then maybe I'd be broke.
My parents' first year of retirement from the military (when they started new jobs) they spent 2% of their income on personal expenses, not including the mortgage payment which was another couple %... that's probably some kind of record... an inheritance is nice but their frugality definitely rubbed off on me in a serious way and consequently I feel uncomfortable unless I am living far below my means. For example, I get really uncomfortable sitting in a brand new car that is for sale on a lot... or buying clothes at an upper end department store... etc... sometimes I wish I could feel a little more free with my spending, but then maybe I'd be broke.
It's difficult to turn off the very behavior the made ER a reality.
__________________ "Knowin' no one nowhere's gonna miss us when we're gone..."
all of the above, the below & the at. firecalc says i'm living at my means. my feeling is that i'm living above my means. my friends think i am living below my means.
example: just today i'm telling a friend how i'm downsizing my next car because the inherited house hasn't sold yet. i'm not crazy about any of the car choices so i'm compromising. so my friend says to me "why don't you just buy an interim car until you find what you want." now there's an idea i wouldn't have thought of (or considered).
__________________ "off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
my feeling is that i'm living above my means. my friends think i am living below my means.
... my friends have been telling me that for years ... but i think it's because my "underspending" makes them feel uncomfortable with their overspending.
I would say AMM. I do an analysis each year and project what's prudent to spend depending on how long I expect to be around. I'm not consciously trying to leave an inheritance to my family but if you're living off of assets, and you die before you plan to, you will live something behind.
I live well, not rich, more like independently middle class.
__________________ “I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
living below your means is so boring. oh, we can't buy this, no we can't have that, nops those fancy tv and cars were built for someone else, let's wait another two years for the stuffs to get real cheap.... it's almost like the only that lbym people can do nowadays are going to the park, get on this forum and watch TV??
personally i am not a fan of lbym and several time attempted to cross the line but somehow never could, i guess i will have to continue this style after i retire too.
... my friends have been telling me that for years ... but i think it's because my "underspending" makes them feel uncomfortable with their overspending.
sounds about right. it just happens the friend suggesting i buy two cars because i can't decide on one car resides in her atm machine.
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Originally Posted by Bikerdude
independently middle class.
great phrase. i'm very comfortable with that.
__________________ "off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
I define this as spending less than the growth in our portfolio in the year. So any year that the portfolio grows is an LBYM year. Lately that gap has been wide.
It might be hardwired in. I used to save my allowances as a young kid and then loan them back to my dad at interest when he was short on pocket cash.
I am interested to see how my kids turn out. I have three kids, one is currently living below his means, the middle one is living above his means (and paying interest), the youngest lives at her means. Their means = their allowances, which is their age in dollars twice a month.
2Cor521
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"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
Why are you STILL saving?
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