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Old 10-03-2009, 12:03 PM   #21
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Originally Posted by kyounge1956 View Post
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?
95 was someone else...
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Old 10-03-2009, 01:37 PM   #22
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Originally Posted by freebird5825 View Post
Here's a new row...

Pre-55: Do a Johnny Paycheck move if FI
Freebird,

The "Johnny Paycheck move" . I like and can identify with that one.


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Old 10-03-2009, 02:06 PM   #23
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95 was someone else...
woops
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Old 10-04-2009, 10:04 AM   #24
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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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Old 10-04-2009, 11:11 AM   #25
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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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Old 10-09-2009, 06:27 AM   #26
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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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