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Old 06-25-2014, 09:48 AM   #41
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Hmmm - this year my taxes are more than my yearly expenses early in ER (1993 and later). Good old RMD. After 20 yrs I reached my 70's.

No heirs, I can't take it with me, Loosen up and strangle 'cheap'.

I must, I must!

heh heh heh - to prevent 'looking at Mr Market too much' full auto Target Retirement with auto RMD, fed and state tax auto withhold, and sweep the rest to MM account. Which I'm trying to spend more - remodeling some more and traveling a little higher on the hog.
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Old 06-25-2014, 10:10 AM   #42
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I look at the number every quarter, but have a much better look after YE.

I have a very hard look every November in preparation for tax time/tax planning.
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Old 06-25-2014, 10:29 AM   #43
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I see my NW every day since Quicken updates my fund values with a click of a button. Changes in NW have never prompted spending for me since until I'm above my target I only see it as "below" my goal. Maybe that will change once I'm there. I will sometimes mention to the dear wife that we "won" $10K or $20K today, but also that we've "lost" the same another day. I actually think making light of it makes the ups and downs less bothersome now that the daily changes can be more than some of my past annual salaries. Also, I think it actually discourages me from spending because I don;t want to lose the momentum.

I do check all my accounts monthly for the reasons mentioned. I am a little concerned about an account being hacked. If a CC gets hacked, it's a hassle but not a life changer. A Vanguard account breach would be a very different story...

I do also have a NW graph/sheet that I update at the end of every year to remind me of the progress we've made. I enjoy looking at that each year. I reminds me why I've worked so hard on this. It also reminds me that 2008 happened...
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Old 06-25-2014, 08:41 PM   #44
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Quote:
Originally Posted by heeyy_joe View Post
The described wealth effect is great for the economy. Go buy that toy, it's makes you a good American.
+1 Might as well take some of the paper gains and turn them into something solid to play with, while you have the chance.
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Old 06-26-2014, 12:44 AM   #45
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Was weekly when using Quicken on PC. Now daily since switched to Mint on my smartphone.
Easy and quick to see NW, investment totals, activities in checking acct and credit accts.


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Old 06-26-2014, 05:06 AM   #46
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When net worth is up I worry that the next fall is right around the corner. And when it's down I tighten further.
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Old 06-26-2014, 05:33 AM   #47
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I watch the sum of my retirement accounts go up and down and keep telling myself I shouldn't do it. But when there's a good "up" day I tend to think how my RE date just got a bit closer rather than feeling I can blow a few thousand dollars.
+1.

I am guilty of this as well. I am getting very close to my "number". So very tempting to start feeling over confident. Scary... As I approach the number I now am thinking a bigger number may be in order. OMY syndrome here I come


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Old 06-26-2014, 06:36 AM   #48
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This is one reason I use a fixed % of portfolio at the end of each year as our withdrawal amount. At the end of a good market year we end up withdrawing a higher $ amount. I always figure that things could go "poof" over the next year, so better to withdraw more while the market is high.
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Old 06-26-2014, 07:59 AM   #49
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This is one reason I use a fixed % of portfolio at the end of each year as our withdrawal amount. At the end of a good market year we end up withdrawing a higher $ amount. I always figure that things could go "poof" over the next year, so better to withdraw more while the market is high.
I also base next year on the previous year's asset base, but with a twist: I only go up or down 50% of the amount called for.

So if this year the budget was $100,000 and next year the budget base on strick percentage would be $90,000 I set it at $95,000. Likewise when things go up, say, $100,000 to $110,000, I set next year's budget to $105,000.

This dampens the highs and lows (spending based on a simplified moving average, like most endowments).
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