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How big was your nest egg when you FIRE'd?
06-02-2017, 12:10 PM
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#1
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Recycles dryer sheets
Join Date: Sep 2012
Location: Redmond, WA
Posts: 185
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How big was your nest egg when you FIRE'd?
I am getting super close to pulling the trigger. I was just wondering what your nest egg's were when you retired, not counting home equity? I am thinking it will be about $1.5M with a paid off house.
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal (FIRED June 2019)
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06-02-2017, 12:13 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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>$1.5 million.
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06-02-2017, 12:29 PM
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#3
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Full time employment: Posting here.
Join Date: May 2011
Posts: 873
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<1.5 million
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06-02-2017, 12:40 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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>>$1.5 million. Why do you ask?
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06-02-2017, 12:44 PM
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#5
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Big enough.
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“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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06-02-2017, 12:45 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
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>1.5m
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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06-02-2017, 12:47 PM
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#7
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Recycles dryer sheets
Join Date: Aug 2013
Posts: 275
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36x my yeary expenses. I have more now then when I retried 4 years ago that's to mr market.
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06-02-2017, 01:05 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
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approximately 9-10 times our highest Gross Income year--and 48-50 times our baseline comfortable-enough spending (not that we plan to limit ourselves to the baseline).
(edited for: "not including home equity")
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OMY * 3 2ish Done 7.28.17
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06-02-2017, 01:08 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,307
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50x yearly spend.
The size of the nest egg means nothing without knowledge of spending
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06-02-2017, 01:10 PM
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#10
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,169
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This question misses some key points.... Like do you have other income sources?
Ours was close to your number... but we also have rental income, DH's SS, and since retirement I've started two (very) small pensions... We only pull 1/2 of our spending from the nest egg.
Plus - how much you "need" for retirement is HIGHLY dependent on how much you spend... We have lots of folks here with smallish nest eggs - but smallish spending... and lots of people here who live pretty large - and have pretty large nest eggs. And don't forget those folks who live quite comfortably on pensions and/or rental income and don't touch their nest egg.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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06-02-2017, 01:11 PM
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#11
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,169
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Oh - and I should add.... Congratulations on getting close to pulling the trigger, Shabby. Good job.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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06-02-2017, 01:12 PM
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#12
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Full time employment: Posting here.
Join Date: Sep 2012
Location: Albuquerque
Posts: 840
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<1.5M without pension
>1.5M considering value of pension
__________________
Retired on 9/30/2017 at age 62
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06-02-2017, 01:27 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,660
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Excellent, congratulations! We are about to retire with about the same but also have pensions.
I think spending is a calculated result not an input so focusing on your nest egg is a good approach.
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06-02-2017, 01:37 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Bigger than $1.5 million but smaller than $1.5 billion. A lot smaller than $1.5 billion.
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06-02-2017, 01:38 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
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We retired when our "nest egg" (including NPV of pensions and FMV of rental properties) was 30X our projected annual spend. Any SS will be a bonus, if the system survives to our FRA.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
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06-02-2017, 01:42 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Location: St. Charles
Posts: 3,903
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At retirement 17 months ago: 36x projected annual spending (actual spending has been lower).
Thanks to the market, we are now: 41x projected spending.
No pensions. Plan SS at FRA (4 years from now), when the portfolio will likely be about 100x annual withdrawal needs.
I think we need to spend more
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If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
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06-02-2017, 02:00 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,432
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Initially about 35x predicted annual spending. Ended up being more like 55x annual spending in the first year of ER and in the 2nd year when I've gotten way into cycling and hiking (which have minimal recurring costs) it's heading for something ridiculous like 100x.
While the nest egg has grown by about 10% since ER this big jump is almost entirely because retirement is costing much less than I'd predicted. I really should have retired sooner.
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06-02-2017, 02:03 PM
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#19
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Recycles dryer sheets
Join Date: Feb 2017
Location: San Antonio
Posts: 178
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Quote:
Originally Posted by ABQ2015
<1.5M without pension
>1.5M considering value of pension
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How do you determine the value of your pension?
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06-02-2017, 02:03 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
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I think mine was about 48x my annual expenditures at the time. Right now it's about 56x thanks to the recent bull market.
As others have said, the absolute dollar value of your nest egg is irrelevant without knowing your annual spending level.
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