Re: heretical ideas
Yeah-- the spending may or may not change much in ER, although things like downsizing or finishing paying off the house may make a big dent. I think the real takeaway from that section of the book is the top-line differences: People are used to thinking of their total annual salary before taxes, and forget that they actually spend far less than that each year, since so much goes off to taxes, savings, maybe mortgage. In ER, you only need your portfolio to produce what you actually need to spend, which is a lower bar. It is probably pretty obvious for anybody here, but a surprising number of people first approaching ER and hearing about SWRs try to replicate their current gross income with an SWR, get discouraged about the size of their nestegg and figure ER will never work for them.
ER for 10 years; living off 4.3% of savings (and a few book royalties ;-)