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moving target
Old 04-19-2014, 09:44 AM   #1
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moving target

My plan is to exit this year around 10/1/14. We have no pension, and may not have severance either, so likely just resign with 2 weeks notice.

My planned retirement annual expense has been $95,000. With DOW almost all time high, my net worth increased, so is DW's expense projection. She has stedily increased it and now suggests $105,000/yr before we both ER. FireCalc says I can do $107,500/yr with 100%, though I want some more cushion in case DOW turns around.

I feel like my finder is on the trigger now. Any hint of job dissatisfaction might cause me to walk any minute, though I need to consider DW's moving target also.
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Old 04-19-2014, 10:16 AM   #2
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You could always go back to work if it doesn't work out, correct?
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Old 04-19-2014, 10:31 AM   #3
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Everybody has different needs & desires. Hard for me to relate to the annual expense numbers. Ours are currently about $43,000 and that's with a $1223 mortgage payment each month. Our retired net income will be more than that, but that's our current spending level, 2 months away from retirement.

By the way. congrats on achieving that level of retirement resources with out benefit of a pension. Mine includes 2 pensions, or else I probably wouldn't be able to retire at 56.
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Old 04-19-2014, 10:34 AM   #4
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You could always go back to work if it doesn't work out, correct?
I may not want to, once I walk. I am 58.

DW is 52 and a PMP. She said it should not be too hard to get an IT Project Manager contract job somewhere.
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Old 04-19-2014, 10:40 AM   #5
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I may not want to, once I walk. I am 58.

DW is 52 and a PMP. She said it should not be too hard to get an IT Project Manager contract job somewhere.
Probably so, as with me in engineering.

But I was offered a part time job at Lowes a few days ago (they want old men who could fix things). I declined, for now.

We are living on SS and my RMDs (hate that) and it amounts to about $70K annually which is plenty given all debts are gone and the houses and cars are paid off.

The keys to making it in ER or "retirement" is a lower expenses to the minimum and have no long term debt. Plus, you should work on maintaining good health.
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Old 04-19-2014, 10:54 AM   #6
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Seems to me your planned expense doesn't really need to increase just because the DOW goes up. Just tell your DW, she doesn't get to increase her IT project budgets just because the company made more money
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Old 04-19-2014, 10:54 AM   #7
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Feels good to have the option to walk away on your own

I remember when I left, during the final days, I had a few people come up to me and say they wished they could walk but because of finances or "no permission" from the spouse, could not.
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Old 04-19-2014, 02:18 PM   #8
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I think as a practical matter many of us splurge a bit when investment results are good and dial back and tighten our belts when investment results are languishing. It's human nature. As long as your spending is elastic enough to dial back if necessary there is not much need to fret.
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Old 04-19-2014, 03:50 PM   #9
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Seems to me your planned expense doesn't really need to increase just because the DOW goes up. h:
It's the "wealth effect". Really loosens the purse strings on a lot of consumers.
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