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Re: Does retirement spending decrease with advanced age?
Old 01-23-2007, 08:33 AM   #21
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Re: Does retirement spending decrease with advanced age?

Personally, I hope to have enough in my 80's to step in and help my Grandkids financially. Have to pay them back for all of the deficit spending these past 25 plus years.
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Re: Does retirement spending decrease with advanced age?
Old 01-23-2007, 10:01 AM   #22
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Re: Does retirement spending decrease with advanced age?

Quote:
Originally Posted by HaHa


In another thread Jarhead posted today that he and his wife, both Medicare eligible, are spending about $12,000 pa for their medical and dental

Ha
Ha: Actually, you are only partially accurate with my $12,000.00 figure above. (I robbed the cradle, and my wife won't be eligable for Medicare until next year, so that figure will probably go down a few thousand next year).

This is an interesting thread, and one that I don't mind breaking tradition, and jumping in without a short "pithy remark".

Our friend "Cutthroat" , as I've mentioned in prior posts, has advocated spending more earlier rather than later, and that probably makes sense.
(To a point). By the same token, Cutthroat has a wife that is working full time, so his experience in this area is pretty limited.

Like you, I have been at this for 20 years withought a pension or windfall.

I have figured out, (actually long before retiring), what our tolerance level is for keeping us active and as happy as possible. We have never practiced any radical money-saving gimmics that I see expressed from time to time on this forum, but also have resisted buying anything that we don't need just because we may able to afford it.

As far as leaving a pile, that would be perfectly alright with us, if we were that fortunate.


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Re: Does retirement spending decrease with advanced age?
Old 01-23-2007, 10:14 AM   #23
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Re: Does retirement spending decrease with advanced age?

Quote:
Originally Posted by Jarhead*
Like you, I have been at this for 20 years withought a pension or windfall.
And that's "the real stuff" Jarhead. We all have our own unique situations......... Megacorp pensions, government pensions, SS, inheritances, part time jobs, working spouse, and on and on. Each person's circumstances, along with their personality, risk tolerance and life style preferences, suggest the course of action they should take regarding when and how to retire, withdrawal/spending rates, etc.

I enjoy following along with folks like yourself because the no pension and no windfall scenarios are the purest examples of playing the RE game.

Congratulations on making it truly on your own!
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Re: Does retirement spending decrease with advanced age?
Old 01-23-2007, 11:50 AM   #24
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Re: Does retirement spending decrease with advanced age?

I wonder how much that 'purity' comes to play. I have to admit that I try hard to consider people who were, as I was for two years before marriage, retired solely on a portfolio with no exterior income.

Long timers know an awful lot about each others circumstances and most people speak freely about their working wives, cola pensions, sixteen rental unit incomes and so forth. Newcomers might get a less than complete picture when someone whose wife earns mid six figures talks about playing it fast and loose with the investment or spending strategies.

Hey jarhead...my wifes the cradle robber...three days older than me...and you bet she hears no end of that around our birthdays.
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Re: Does retirement spending decrease with advanced age?
Old 01-23-2007, 12:29 PM   #25
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Re: Does retirement spending decrease with advanced age?

Quote:
Originally Posted by youbet
And that's "the real stuff" Jarhead. We all have our own unique situations......... Megacorp pensions, government pensions, SS, inheritances, part time jobs, working spouse, and on and on. Each person's circumstances, along with their personality, risk tolerance and life style preferences, suggest the course of action they should take regarding when and how to retire, withdrawal/spending rates, etc.

I enjoy following along with folks like yourself because the no pension and no windfall scenarios are the purest examples of playing the RE game.

Congratulations on making it truly on your own!
Youbet: Thanks for your kind words.

When I retired, a lot of the heavy lifting had already been done with our children.

Be that as it may, I also understand that without the wind at our backs since 1987, when I retired, it could have turned out to be one of the most irresponsible decisions I had ever made. (Re: investment climate).

I totally understand that, and am grateful for it.

We have had a successful retirement so far, and it has allowed me to play a lot of tournament golf and fly-fish as much as I want to.

That being said, early retirement is a decision that you have to be real careful with in my opinion. (When it comes at you in buckets, and it will, given enough time, make sure that you are funded properly).

All in all, it's been great for my wife and I, but be careful out there.
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