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10-03-2009, 12:03 PM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,204
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Quote:
Originally Posted by kyounge1956
So Midpack, just out of curiosity, if your financial plan assumes death at 95, what is "end of plan" at age 108? Are you expecting it to take 13 years to get your estate through probate, or what?
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95 was someone else...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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10-03-2009, 01:37 PM
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#22
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,132
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Quote:
Originally Posted by freebird5825
Here's a new row...
Pre-55: Do a Johnny Paycheck move if FI
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Freebird,
The "Johnny Paycheck move" . I like and can identify with that one.
Easysurfer
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10-03-2009, 02:06 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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Quote:
Originally Posted by Midpack
95 was someone else...
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woops
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10-04-2009, 10:04 AM
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#24
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,525
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Candidates for the accumulation phase:
- 14 +/- (first babysitting or mowing lawns job): has earned income, eligible to contribute to a Roth IRA
- 18: eligible to legally establish a business and start SEP IRA
- 18+: Upon full-time status at Megacorp, eligible to contribute to a 401k, 457b or other tax-deferred define contribution plan
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10-04-2009, 11:11 AM
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#25
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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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I would add three dates:
1. RE date minus five years: Start of Early Retirement Risk period. Big losses in your portfolio can significantly impact its longevity from now till #2. This would be a good time to build a liquid cushion. (If you want to call it a bucket, fine!)
2. RE date plus five years. End of Early Retirement Risk period. Ideally, you have been living on liquid assets for the past five years and have not yet had to sell equities. Now you can start.
3. Age 70 (or so). Reevaluate the portfolio and your EDD (expected date of death). Will it be sustainable? If not, consider an annuity.
Of course, most of us will be doing more frequent checkups!
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10-09-2009, 06:27 AM
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#26
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 1,854
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Midpack,
Isn't there a "catch up contribution" allowable to HSAs of $1,000 beginning at age 55?
Also, when I do my planning, I use "stepped" spending periods during FIRE. For example, from my rehirement age of 52 to about 65 I assume spending at X since I plan to travel and keep up my car hobbies. After 65 I likely won't travel much, so I use X-10%, then at age 75 my arthritis will kick in and no more car hobbies for me, so I use X-25%....something like that.
Good chart!
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