Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 09-26-2011, 02:37 AM   #61
Thinks s/he gets paid by the post
obgyn65's Avatar
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Thank you for candid answer, Dan.
Originally Posted by dandetour View Post
ObGyn: My experience is what you fear.

Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-27-2011, 06:37 PM   #62
Thinks s/he gets paid by the post
Finance Dave's Avatar
Join Date: Mar 2007
Posts: 1,088
Originally Posted by teejayevans View Post
All true, but getting back to the subject line, there is something psychologically painful about having to pull out a big chunk of money just after retiring.
I understand what you mean. I plan to buy all those things just PRIOR to FIREing....and then if you feel really sad about your spending spree, wo*k 2-3 more months to make up for it.

"Live every day as if it were your last, and one day you'll be right" - unknown
Finance Dave is offline   Reply With Quote
Old 09-28-2011, 05:29 AM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,807
Originally Posted by ERD50 View Post

A big +1 to youbet. ...
If this is really that hard for you psychologically - take the amount you would spend pre-retirement, put it in a separate account. You are then 'free' to spend that to zero after retirement with no guilt issues. Personally, I can do this on a spreadsheet (or just in my mind) easier and cheaper than with separate accounts, but to each their own.

+1 that is what I did and what I do with excesses from my yearly withdrawals. I was originally going to put it in a separate account but ended up leaving it in the portfolio but identified as an amount in a spreadsheet. At the end of the year I adjust it up or down based on the performance of the portfolio as a whole. It will be interesting to see if I can maintain the mental separation when I want to tap that "fund" for a frivolous purchase after a big down year.
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 09-28-2011, 08:39 AM   #64
Recycles dryer sheets
Join Date: Mar 2011
Location: Dallas
Posts: 482
We just retired at 40 & 46. Some of our decision is just doing it...I plan to try to keep our overall balances at even to slightly up. If I clear 3% annually, I can do this. Inflation would require me to get 6-7%...maybe wishful thinking...

We are moving (maybe temporary, maybe long-term) to Mexico to make our money extend a bit.

DW gets a pension at 55 or later (minor, but it would cover appx. 30-40% of expenses), then we have SS in our late 60's.

Friends think we're a little crazy (sometimes we do too), but I've run more spreadsheets than my accountant boss to come up with various scenarios and we decided the timing was good and we just needed a couple years off to "explore" our options.

We'll be living off of $2,500 monthly to start; that includes everything! HD health, car insurance, food, lodging...everything. Can we do it? I'll let you know 6 months from now how close we get to the goal.
Surewhitey is offline   Reply With Quote
Old 09-28-2011, 03:48 PM   #65
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,991
It may sound crazy but the LBYM mode has become so ingrained that I have decided not to convert traditional IRA's to Roth's largely because I will be forced into taking RMD starting at 70 1/2 and then since the money is out, I'll probably feel like spending whatever is left after Uncle Sams cut. We've been retired for 8 years now and find that distributions from just our taxable accounts are more than sufficient to cover our expenses.
ejman is offline   Reply With Quote
Old 09-28-2011, 04:11 PM   #66
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,490
Originally Posted by Surewhitey View Post
We'll be living off of $2,500 monthly to start; that includes everything! HD health, car insurance, food, lodging...everything. Can we do it? I'll let you know 6 months from now how close we get to the goal.
DH retired June, 2010 and we are quite comfortable on $2500/mo. Most months it's more in the range of $2300-$2350. This includes having satellite TV, broadband internet, a generous grocery budget and $300 budgeted for "other" because sh*t happens, stuff breaks (garage door repair $233 this month) or wears out. Or sometimes you just need a new toy. No mortgage, low property taxes. Medical insurance is through retiree health plan so that helps a lot. There's a high deductible so I set aside a monthly amount for planned expenses.

What part of Mexico? Is it a lot cheaper there?

Married, both 63. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 11:35 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.