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Old 08-23-2014, 02:05 PM   #41
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Been ERd for about 10 years and I regularly exchange any amount in excess of $1000 in my checking account into savings @ Ally. I reconcile my checking account monthly and then scrape off any amount that it over $1000. That has been my process for 25 years or so.
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Old 08-23-2014, 02:57 PM   #42
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When I retired, over 2 years ago, I had absolutely no plans to try and "save" money like I did while I worked. My plan in retirement was to live within my means (not below or above) which was the same as I did while working. As it has turned out so far, even with some rather expensive "hobbies" and low return investments (by this forums standards) I have more money now (about the same if inflation adjusted) as I did when I retired. I have no pension (unless you count SS).

So I guess the answer is yes, I'm saving money in retirement but not by plan or design. And no, I'm not sending anyone my surplus/savings just to keep my spreadsheet in line with my projections. I'm sure I'll find another car/collectable to buy to keep my spreadsheet on track.
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Old 08-23-2014, 03:39 PM   #43
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I don't save any $ because I'm not making any money in the sense of income. I may spend less than expected, or get a greater return from my portfolio than expected, but I don't consider this savings.


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Old 08-23-2014, 04:08 PM   #44
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For me, being retired is no different than working when considering income from whatever source. I have always saved and still do after being retired. We all need that buffer. Why would anyone retire and live on a knife's edge without having that cushion for whatever comes up in life? I have been programmed to save and invest and will continue to do so. My plan is to buy more land one day soon...
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Old 08-23-2014, 04:08 PM   #45
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Right now we're not saving anything and in fact are spending down savings by about $500/month. This is planned and will end when I start SS in a couple/three years. When that happens we'll probably have to work at it to spend all income but I'm sure we can think of something.

If nothing else there's virtually no upper limit to what can be spent on photography gear.
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Old 08-23-2014, 08:17 PM   #46
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Still save? Hell no.

We built up a nest egg so we could enjoy retirement and that's what we're doing. ...BTW, get off my lawn...
Heck, Ken. That didn't sound a bit cranky to me at all.

It did earn a chuckle or two.
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Old 08-23-2014, 08:35 PM   #47
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Heck, Ken. That didn't sound a bit cranky to me at all.

It did earn a chuckle or two.
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Old 08-23-2014, 08:51 PM   #48
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Post college years we hope to be back to saving over half again. Saving is in our DNA. We're quite happy with post-kids retirement life we have planned on that amount, so why spend more.
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Old 08-23-2014, 09:25 PM   #49
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I guess if I took an extra $1000/month out of my portfolio I could put it back in and say I'm saving it?
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Old 08-23-2014, 10:54 PM   #50
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Early on in early retirement I suppose it is rational behavior to establish a fixed budget annually, say 3pct withdraw rate as an upper guardrail and see how that works - If one is able to live on less and not compromising lifestyle I suppose that sets the lower or cost reduced guardrail with the difference in the two being "saved".

Not a bad approach - What ever works for you as you establish your budget in retirement and get comfortable with both the predictable and non predictable cash out flows as well as investment / portfolio value variation.

In the end at the stage you describe (drawdown phase) it's all "spending your savings" or "not spending your savings". Versus earning.

But I think that's ok to keep holding a bit back if it makes you feel better and helps establish a budget with fixed and variable costs.
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Old 09-01-2014, 02:48 PM   #51
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Two good pensions with one full SS and one spousal. The spousal will become a full benefit in 3 1/2 years at 70. Still saving and that will pick up even more at. 70. We are blessed




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Old 09-01-2014, 03:23 PM   #52
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I do not think it is unusual to live on pensions and SS and keep reinvesting the rest, for those of us dinosaur retirees with pensions:

"Where do affluent retirees get their income? Portfolios invested in stocks and bonds, you might think - but you'd be wrong. Turns out many are living mainly on Social Security and good old pensions."

COLUMN-Surprise: Even wealthy retirees live on Social Security and pensions | Reuters
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Old 09-01-2014, 03:25 PM   #53
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Bada bing



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Old 09-01-2014, 04:03 PM   #54
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Yes, I still save....even though I'm retired I still have car & house repairs. If you don't still save how are these expenses covered? I also save for travel and for a car purchase when my 8 year car dies. I also save in an emergency fund for the big house or medical things. This is all from my monthly pension which covers living expenses, savings and investments. I don't withdrawal from my TSP.
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Old 09-01-2014, 04:09 PM   #55
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Nope! Spent 30+ years saving for retirement and now it's pay back time. Anything not spent from my SWR goes towards even a bigger vacation the next year, or we just eat out more. Plus I have some expensive hobbies which can always get more attention. Firecalc says it's safe so why not?

The kids will get whatever is left over.


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Old 09-01-2014, 08:40 PM   #56
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This is my first year and very odd about spending and saving. I only get a tiny SS check and spend more but I got another 60K inheritance and spent 35K on gifts and maybe trickle away a thousand or two more than my SS check a month so savings is up but I haven't made an effort to save. I should be going into a phase of spending about 1-2K more than my income until the end of December then will get a bunch of dividends and capital gains so the total for 4 months might be break even but my total invested money is up for the year about 100K after wasteful spending and gifts. Since I have over a million saved I should be able to spend 40K plus my SS so planning to spend 24K plus SS seems very wasteful yet safe.
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