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View Poll Results: Below, Within or Beyond
I try to live below my means 148 70.14%
I try to live within my means 59 27.96%
I try to live beyond my means 4 1.90%
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Old 12-09-2014, 11:57 AM   #21
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Prior to retirement - below
Once retired - within
What he said.... Don't really see the logic of LBYM in retirement.
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Old 12-09-2014, 12:24 PM   #22
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I try to live beyond my means (and without using my means.) :-D
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Old 12-09-2014, 12:30 PM   #23
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Originally Posted by Tadpole View Post
We are trying to increase our spending but it's just too dang hard.
Why? Are you worried about running out of money?
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Old 12-09-2014, 12:33 PM   #24
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Originally Posted by Car-Guy View Post
Financially speaking, do you try to live below your means, within your means or beyond your means?
I don't try, I actually do live below my means. Trying is for cissies

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Originally Posted by Bikerdude View Post
What he said.... Don't really see the logic of LBYM in retirement.
Here's my logic for living below my means in ER. I ER'ed with a slightly smaller portfolio than I would ideally have liked, at the age of 47 (15 years away from even early SS). Therefore, I have a conservative WR in order to hopefully allow my portfolio to grow a little so that I can have a higher income in the future. Everyone's situation is different. I believe my rationale is a reasonable one, given my particular situation.
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Old 12-09-2014, 12:34 PM   #25
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I live well below my means. DW lives a bit above her means. Thus we live within our means.
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Old 12-09-2014, 12:54 PM   #26
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I don't try, I actually do live below my means. Trying is for cissies


Here's my logic for living below my means in ER. I ER'ed with a slightly smaller portfolio than I would ideally have liked, at the age of 47 (15 years away from even early SS). Therefore, I have a conservative WR in order to hopefully allow my portfolio to grow a little so that I can have a higher income in the future. Everyone's situation is different. I believe my rationale is a reasonable one, given my particular situation.
I see your point. I guess it depends upon what "living within your means" means.
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Old 12-09-2014, 01:00 PM   #27
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I see your point. I guess it depends upon what "living within your means" means.
It's easier to define when you have a set and predictable income from a job, or a check from a pension, SS etc. When you're drawing from a portfolio that contains equities and bonds then yes, there is no such thing as an exact amount you know you can draw in complete safety, so the exact definition of "living within your means" would vary, depending on the risk tolerance of the person.

At least, I think that's what you meant.
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Old 12-09-2014, 01:01 PM   #28
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One could argue that if someone's net worth is increasing that they are living within or below their means. Or perhaps if their net worth is increasing by more than the change in unrealized appreciation of their assets (is expenses are less than income).

And if their net worth is declining then they are living above their means.
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Old 12-09-2014, 01:06 PM   #29
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One could argue that if someone's net worth is increasing that they are living within or below their means. Or perhaps if their net worth is increasing by more than the change in unrealized appreciation of their assets (is expenses are less than income).

And if their net worth is declining then they are living above their means.
Now you're just being awkward
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Old 12-09-2014, 01:13 PM   #30
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It's easier to define when you have a set and predictable income from a job, or a check from a pension, SS etc. When you're drawing from a portfolio that contains equities and bonds then yes, there is no such thing as an exact amount you know you can draw in complete safety, so the exact definition of "living within your means" would vary, depending on the risk tolerance of the person.

At least, I think that's what you meant.
I think you nailed it.
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Old 12-09-2014, 01:17 PM   #31
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To truly live within your means you would have to know your expiration date.
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Old 12-09-2014, 01:23 PM   #32
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To truly live within your means you would have to know your expiration date.
As well as exactly how your portfolio was going to perform in the future.

Sure would be nice if someone could stop being difficult and just tell us these things
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Old 12-09-2014, 01:50 PM   #33
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I live well below my means. DW lives a bit above her means. Thus we live within our means.
That's us, too!
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Poll: Below, Within or Beyond
Old 12-09-2014, 01:56 PM   #34
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Poll: Below, Within or Beyond

Below. But, after doing some SS math and playing around with variable withdrawal rates, I probabl won't be as far below as I had planned.

Since the future is unknown to me, having some padding to absorb unexpected problems (like living to long!) is well worth giving up some extras every year. OTOH, one never knows what will happen.
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Old 12-09-2014, 02:02 PM   #35
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Why? Are you worried about running out of money?
No; we just aren't spending that much.
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Old 12-09-2014, 02:05 PM   #36
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Pre ACA my goal was to live within our means.

Post ACA, my goal is to live within your means.
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Old 12-09-2014, 02:06 PM   #37
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Despite occasional splurge, I live way below my mean.

( I figured LBYM vote would be hovering over 90% given the nature of this forum's members. I stand corrected. )
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Old 12-09-2014, 02:07 PM   #38
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Accumulation - obviously below. In ER below, briefly above but on average below.

Thus after twenty years of ER as mentioned on another thread my new found pals at the IRS are helping via RMD.

Even with the leftovers spending up is painful emotionally since I took great pride in being a 'cheap SOB' for so long - sort of reveling in it.

heh heh heh - plus I married a financially independent gal also frugal so we need to expand without feeling frivolous and stupid because: a) you can't take it with you and b) we're not getting any younger.
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Old 12-09-2014, 02:19 PM   #39
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Our net worth is greater than zero so on average we live below.
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Old 12-09-2014, 02:48 PM   #40
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I've tried to live beyond my means, but failed miserably. Still saving a portion of every pension check.
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