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Old 07-07-2018, 01:04 PM   #21
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i would increase your allowance for inflation and health-care costs ( always better to come in below budget , in my opinion )

an income producing hobby for you AND DW ( either separate or a combined hobby) looks good if you can manage it ( that hobby could involve your stock holding just be very careful if you decide to trade chasing a steady income from it )

could you design an algo that would flag cheap periods in stocks you are interested in for example ( not every stock in the market place )

cheers , good luck and good health
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Old 07-07-2018, 01:15 PM   #22
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If you are a FIDO customer or at least a registered user, use their RPM planner. It lets you build a budget and has all the categories, some which might get overlooked like eye exams, dental, home repairs, medigap, gifts, etc fill it out and run it and see how prepared you are.
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Old 07-07-2018, 01:58 PM   #23
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Originally Posted by COcheesehead View Post
If you are a FIDO customer or at least a registered user, use their RPM planner. It lets you build a budget and has all the categories, some which might get overlooked like eye exams, dental, home repairs, medigap, gifts, etc fill it out and run it and see how prepared you are.
+1
This Fido program is an excellent compliment to the Firecalc program, as it allows more examples of granularity calculated in a Monte Carlo simulator vs. a historical basis, plus it will most likely provide a more conservative result.
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Old 07-11-2018, 12:43 PM   #24
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Originally Posted by athena53 View Post
How iron-clad is your wife's retiree health insurance? If it's union she may be OK. My brother, who was in management, ERd in his late 50s with retiree health insurance and a decent pension. The company dropped the retiree health insurance as of 1/1/18- just dropped it. No compensation, no option of paying some part of it. Brother and SIL are paying $22K/year (combined) for an ACA plan with a high deductible. Fortunately they live very frugally and have saved a lot, but it was a huge shock. Something you need to consider if you think it's possible.
DW works for a city government agency. It's hard for me to determine how iron-clad her retiree health insurance is, or her pension for that matter. However, given that our NW is approx 40 times current fixed/discretionary expenses[1][2], and 70 times not-quite-bare-bones expenses[2], I think (hope) there's enough cushion to cut back if need be. Am I being too optimistic?

[1] I think my OP was incorrect in stating NW was 75 times annual expenses as I was mistreating dividends; dividend income is no longer being considered in offsetting expenses
[2] Before taxes and not including my DW's anticipated pension

Quote:
Originally Posted by Oz investor View Post
...an income producing hobby for you AND DW (either separate or a combined hobby) looks good if you can manage it (that hobby could involve your stock holding just be very careful if you decide to trade chasing a steady income from it)

could you design an algo that would flag cheap periods in stocks you are interested in for example (not every stock in the market place)

cheers, good luck and good health
I can't see my hobbies as ever being income-producing. I love playing guitar but my desire to play far exceeds my ability. I had been managing a portion of DWs and my portfolio which was invested in individual dividend-paying stocks. I had a subset of stocks that I kept my eye on and would selectively reinvest dividends into those that I thought were being unfairly punished or were otherwise just undervalued. But I think I wised up in thinking that dividends are some magical thing that I was benefiting from and that other, non-dividend investors were missing out on. I stopped actively managing the individual stocks and am starting to slowly liquidate them (as tax-efficiently as possible) and moving the money into index funds.

Maybe I need new hobbies. Thanks for your response. Cheers and good luck and health to you as well.

Quote:
Originally Posted by COcheesehead View Post
If you are a FIDO customer or at least a registered user, use their RPM planner. It lets you build a budget and has all the categories, some which might get overlooked like eye exams, dental, home repairs, medigap, gifts, etc fill it out and run it and see how prepared you are.
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Originally Posted by Dtail View Post
+1
This Fido program is an excellent compliment to the Firecalc program, as it allows more examples of granularity calculated in a Monte Carlo simulator vs. a historical basis, plus it will most likely provide a more conservative result.
Thanks. I'll check it out.
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Old 09-15-2018, 07:36 PM   #25
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Today my wife said to me (paraphrasing), "At some point we might have to dip into our investments because my salary doesn't look like it'll cover all of our expenses this year". She said this while paying bills in a very casual, non-panicy way - just as an FYI.

Although I'm glad to be sorta-retired ("sorta" because I didn't finalize the decision, but I'm no longer hustling to find work), and although our finances are OK, and although DW is completely OK with me not working, that statement she made reinforced the reality of retirement. Kinda scary, even though we would only need to harvest somewhere between 0.6% and 0.8% of our stash to make up for the shortfall. How am I going to feel when we're both retired and we're harvesting 3%?

On another note - we decided that we should see a fee-only financial adviser (and make out wills).
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