36x my yeary expenses. I have more now then when I retried 4 years ago that's to mr market.
almost exactly my circumstance. Retired at 62, so I'm looking at a 30 year deal on the calculators. Although I've only been retired a bit over a year.
36x my yeary expenses. I have more now then when I retried 4 years ago that's to mr market.
Our is 100x estimated annual spending (pension and SS not included).
i read an old longevity article that said 20 % of men aged 62 will not make 70. this forum is loaded with folks that shoot for 100 % success in retirement spending, why wait to collect? Im having a hard time understanding this. Im not asking you in particular you might have wonderful reasons, im shooting this out to the rest of the posters.
i read an old longevity article that said 20 % of men aged 62 will not make 70. this forum is loaded with folks that shoot for 100 % success in retirement spending, why wait to collect? Im having a hard time understanding this. Im not asking you in particular you might have wonderful reasons, im shooting this out to the rest of the posters.
So you retired with just 16x of yearly expenses. If you had that money invested in stock market you've done very well. Just curious to see how 8 years later how you're doing?
Do you have access to free or low-cost healthcare?
After 8 years I'm doing very well. After one year I bought 3 rental condo's for $290k which provide a net income of about $28k per year (after tax too). And of course the 403b (now IRA) grew significantly. Now, the portfolio is $980k ($115k cash, $865k IRA) and the rental condo's have appreciated to about $700k. In another 2 1/2 years I will start SS.
i read an old longevity article that said 20 % of men aged 62 will not make 70. this forum is loaded with folks that shoot for 100 % success in retirement spending, why wait to collect? Im having a hard time understanding this. Im not asking you in particular you might have wonderful reasons, im shooting this out to the rest of the posters.
Right. They don't have that option on the calculator, so I used CPI.Just for the record, military pensions (just like Social Security benefits) are adjusted by CPI-W, not the overall CPI.
Still, it's a fantastic benefit. My military pension is nearly twice what it was when I retired in 1989.
I never counted pensions in my net worth. For example, my brother who was a large pension, both him and his wife, if I count his net worth it would be north of $10 million and he is still working. I know for this site that's kind of odd, not to ER, but if he does, he will be at home alone. His wife is 8 years younger, still be working. He told me he will retire at 65.
Yes to the above and the love for his children. He still have 3, 2 boys in colleges, and they need major money. Plus if he retires without his wife, he can be isolated. Going to work saved his butt or life. Last year, he almost had a heart attack at work, he felt something wrong and walked down to the nurse office, they immediately called the ambulance and he went into the hospital for 2 days. Had he been at home alone, he might have been dead. His wife was working about 30-45 minutes away.FI is only part of the motivation to retire... You also have to want to retire either away from something (a job you don't like) or to something (hobbies, travel, whatever.) Some people enjoy working and continue to work despite being financially independent.
I have an acquaintance that is a retired navy captain, former planning group chair, former city council member, chair of a large regional board... and advisory member of an even larger regional governing agency board.... he's in his late 70's and obviously doesn't need the money... he just can't imagine not being involved and influencing things... He continues to work in his 70's because he enjoys it... not for the money.
Yes that is the only reason I include the pension in my asset allocation. It has worked out really well for 12 of the 14 years of retirement! I do the NPV calculation. But aside from that, I think deducting it from your SWR is easier and just as accurate. I have 4 pensions between DW and I that I handle the same way.When it comes to asset allocation decisions, I think there is a stronger case for including the pension value as a fixed income proxy. Not to do this will tend to make your asset allocation too conservative.
Amazed at how many here have 40, 50 or 100 X annual expenses in nest egg. I'm 60, wife is 64, and we are planning on more like 25. Wish us luck! (gulp)
Amazed at how many here have 40, 50 or 100 X annual expenses in nest egg. I'm 60, wife is 64, and we are planning on more like 25. Wish us luck! (gulp)
But man, reading all of these responses makes me feel like I should be getting food stamps or something.