Car-Guy
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
As a follow up from a previous thread.
If you use a retirement calculator like FIREcalc, and assuming you have entered all your particular information correctly, it tells you can withdraw a certain amount each year with a 100% success rate. If you spend less than that, would you say that are you living below your means?
Since you really don’t know how long you will live, or how your investments will do, or much of anything else in the future for that matter, how do you know if you are really living, below, within or beyond your means (financially speaking)? Is it just a gut feeling for you? How do you make that determination? Yes I know you might want to hedge your bets (or calculations)
If you use a retirement calculator like FIREcalc, and assuming you have entered all your particular information correctly, it tells you can withdraw a certain amount each year with a 100% success rate. If you spend less than that, would you say that are you living below your means?
Since you really don’t know how long you will live, or how your investments will do, or much of anything else in the future for that matter, how do you know if you are really living, below, within or beyond your means (financially speaking)? Is it just a gut feeling for you? How do you make that determination? Yes I know you might want to hedge your bets (or calculations)
Last edited: