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Old 01-13-2013, 12:18 PM   #21
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Plan B was to have enough passive income to cover our expenses by age 50. We got there a lot sooner than expected, thankfully.

Plan C is to sell some hard assets to replenish our income-producing portfolio.

Plan D is to work part time to supplement our passive income (DW and I are working on several possible self-employment ideas right now).

Plan E is to move abroad. With my EU citizenship, many choices are open to us - places with good quality of life, lower COL, and cheaper health care.

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Old 01-13-2013, 01:36 PM   #22
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Inspiring article - so many people are reinventing themselves (professionally) out of economic necessity and in the process, finding more satisfaction & fulfillment. Power to them.

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Old 01-13-2013, 01:54 PM   #23
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Originally Posted by rbmrtn View Post
I'll be on medicare by then, if it survives.
Precisely. And even if it does survive, just being on Medicare doesn't fully resolve the concern about health care costs.

Originally Posted by photoguy View Post
I don't think anything can be considered "absolutely guaranteed". The question is are you willing to wait an additional 10 years (or however long it takes for your portfolio to double) to FIRE? or will you decide the risks are acceptable with the Affordable Care Act? or split the difference somehow?
I have no great desire to retire too early. I'll be happy to go at least another twelve years if possible; that'll put me at 62. RE is my Plan B. But that "splitting the difference" becomes a significant consideration as the availability of jobs for people my age declines sharply, such that the compensation I can hope to receive declines sharply. There comes a point where continuing to work becomes less valuable than retiring early, assuming that FI is achieved. Questions pop up for me; for example: When does working longer (at a substantially lower salary) start eating into SS, for example? But more qualitatively: At what salary level does it become worth severely cutting expectations for FI, for how much we can spend in retirement, in order to no longer work. Lots of questions.
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Old 01-13-2013, 04:15 PM   #24
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Plan A: Live off of DB pension (continue in accumulation phase due to low living expenses)

Plan B: Live off of PBGC payout if pension goes bankrupt (continue in accumulation phase, albeit reduced)

Plan C: Live off of Social Security (remain in accumulation phase, albeit further reduced)

Plan D: Live off of investment portfolio at about 1% withdrawal rate

Plan E: Move to lower cost of living area (currently in San Francisco Bay Area)

Plan F: Obtain reverse mortgage

Plan G: Cut already low living expenses (e.g., eliminate cable TV, car)

Plan H: Do you want fries with that?
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Old 01-13-2013, 04:28 PM   #25
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Glad I retired while I was still young enough not to care that we did not have all these issues to deal with.

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