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Old 02-02-2013, 09:17 PM   #81
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I've been tempted to post a poll here and asking people to post what their goal is (or maybe their current assets?), and post it in the form a poll, with ranges, so it's anonymous.

Like
<500,000
500,000 - 1,000,000
1,000,001 to 1,250,000
etc.

Has that been done on this board? Is that acceptable? Would y'all participate? Didn't want to violate any rules....
There was a survey like this a few years ago (maybe more) that got all wound up in questions about pre/post tax assets and how to handle annuities and how to handle home equity, etc. So give the survey another try, but try to be very specific about what you mean by "net worth."
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Old 02-02-2013, 09:29 PM   #82
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Originally Posted by tinlizzy View Post
All this "depleting the nest egg" is scary talk!
Amen! I retired without any real understanding of SWR or careful budgeting. I just figured if hippies can do it, why not me? I certainly had no target amount. I just quit when I got good and fed up. My wife paid no attention to money, so it was A-OK with her.

I had a friend who was a land man in the Williston in Eastern Montana and North Dakota. When oil prices went to hell in the mid 80s he moved over to the coast and became an Edward Jones rep in my town. He started to tell me about sustainable withdrawals and stuff like that, but I had no interest. What I wanted to know about was the geology of various oil and gas plays, since I figured that it was impossible that a growing car crazy society would go very long with very low oil prices. He taught me about different plays. I wanted some long life fields. In those days an individual investor could call a mid-cap company and often talk to the CEO or the CFO, or of particular interset to me, to a geologist. So I made my bets, and over time most of them did well.

I had never heard of swr until I came to this site in 2003. Knowing about this, and about diversification has moved me toward being be more conservative, as I am a lot older now too.

But if I were deliberately "decumulating" I would be very annoyed with myself.

I have enough cash income in my taxable account to pay my income taxes and all other expenses, although there could be unusual expenses to make it tight or even negative. But I've got some SS too. I leave my Roth alone, I don't really plan on any withdrawals from it unless things go badly for me. I take my RMDs in securities, so each year this adds to the earning power in my taxable account. In a normal year I should save ~$1000 cash/mo.

After I get used to living with no rent, I may trade out of higher dividend securities into some wiith less income, so I don't pay any taxes on money that I don't need year to year.

My Dad stressed that humans do not like to get poorer, they like to be on a gradual or even steep upslope. I guess I am human, because this describes me. I find the idea of saving for years to then deliberately spend it down to be very unappealing. Nobody in my family ever did this.

Ha
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Old 02-02-2013, 09:59 PM   #83
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Quote:
Originally Posted by scrinch View Post
There was a survey like this a few years ago (maybe more) that got all wound up in questions about pre/post tax assets and how to handle annuities and how to handle home equity, etc. So give the survey another try, but try to be very specific about what you mean by "net worth."
It is basically useless. Millions of arguments about homes, pensions, COLA or not COLA, pre or post imputed taxes, etc.

Do it if it makes you feel good, but don't expect to learn anything useful.

Ha
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Old 02-04-2013, 08:39 AM   #84
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Originally Posted by SumDay View Post
Yes, we have a goal, and hope to be there in ~5 years, which coincides with DH turning 65, so I can get him on Medicare and off my employer provided health care coverage.

I've been tempted to post a poll here and asking people to post what their goal is (or maybe their current assets?), and post it in the form a poll, with ranges, so it's anonymous.

Like
<500,000
500,000 - 1,000,000
1,000,001 to 1,250,000
etc.

Has that been done on this board? Is that acceptable? Would y'all participate? Didn't want to violate any rules....

I would be OK to participate in this poll as well.
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Old 02-04-2013, 10:41 AM   #85
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We all see retirement through our own eyes. Much different at age 40, 50, 60, 70, or in the case of a few of us here on ER, ... nearer to age 80. If you are 45 and plan to live to age 85, and spend $60,000/yr... you need more than I do, if you plan to spend down your net worth.

If you intend to keep your net worth intact, you need MUCH more.

Here's a very simple question you might ask yourself... starting with net worth, if you intend to spend down.

1. Assume your investments (NW) track inflation.
2. Estimate your remaining years
3. Divide your net worth by the remaining years.
4. Can you live on that?

So you'll do better than inflation? How much better? 3%?... Add that to the result in #4.
.................................................. .................
Depending on your age, wealth accumulation, risk, and national economic stability, has changed over the years. Financial planning is relatively new. When I began work, financial stability rested on long term employment, steadily rising wages, and things like profit sharing (sears Roebuck)... where a 30 year employee might end up with retirement of $300K... in today's dollars, about $2.5 Million. (1958). The interim period through the early 90's saw interest rates from 6% to 13%... in bank savings accounts and CD's. For a frugal, LBYM person, capital accumulation was a little less uncertain.

That was a plea for understanding people who have a "different" perspective on investments.
.................................................. ..................
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Old 04-01-2013, 03:08 PM   #86
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I had a goal for "investable assets", that is, NW minus real estate. I came within 5% of it when I ERed. I am now 99% there. Thank you, markets!
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Old 04-01-2013, 03:46 PM   #87
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I am FI and not yet RE (but very close). I actually plan on spending down my nest egg and leave only a modest estate to my kids. I am hoping that investments are good and I have a devil of a time spending it down being that I have been frugal for many years.
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Old 04-01-2013, 05:10 PM   #88
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Originally Posted by Lazarus View Post
Yes and Yes. My net worth has increased since retirement.
+1

fd
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Old 04-01-2013, 06:44 PM   #89
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Yes, I had a goal and met it before ER in December 2002. NW now at age 62 is 74% higher than upon retirement. I agree with HA's dad that an uptrending NW line is most gratifying. As life goes on I may come to terms with a stable (or declining) NW line but for now FIRECALC says that given my current expenditures and NW, 100% looks reasonable and far more lines in that plot trend up and none do the kamikaze dive and that is just the way I like it!
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Old 04-01-2013, 09:48 PM   #90
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My plan is for our net worth outside our home to be $6 million ($1 million of that would be 401K) before we go into semi-retirement mode.
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Looking to retire or semi-retire by 45 based on our net worth going to $6 million outside our house.
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Old 04-02-2013, 12:51 PM   #91
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I am about 15 years away from retirement. I have a variety of goals - when I want my portfolio to hit certain dollar thresholds etc. I hope my savings doubles in 10 to 12 years.

I have decided that I have to work until I am 57, because that's the age I can keep my [fed] health bennies. Since I originally wanted to shoot for earlier, I am projecting I will have more money than I think I will need to retire and live comfortably and do the traveling and other things we want to do.

Because of this, we opted to buy a cabin in the mountains a few years ago, so we could enjoy ourselves a little more now as well as later. We save less, although I am still saving about 25% of my salary, but we don't regret it for a minute.

As for having money left over: We don't have any kids, so my nieces and charities will get whatever is left. I would be fine with leaving them just a little, as long as I am sure I don't run out before I go!
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Old 04-03-2013, 06:23 PM   #92
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Yes I have a target, but have not reached it yet.
Only became more knowledgeable in last 6 years on how to best establish appropriate target. Planning on 4% rule
Hope to reach target within the next 5-7 years
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Old 04-03-2013, 10:21 PM   #93
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Have a net income goal that will exceed my expenses by a considerable safety margin.
That safety margin if not spent on extra luxuries will be added to wealth to increase future net income
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