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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 12-10-2014, 05:33 PM   #61
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Before ER. Below means
After ER. Below means. Income from rentals, not drawing from 401K yet. Will step spending up in a few years when more income is received from 401K & Soc Sec.


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Old 12-11-2014, 09:49 AM   #62
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12 years retired. Every year my net worth grows in spite of my best efforts.

DW seems to be better attuned to spending but now that we have all new appliances and a newer car, I think the rate of savings will increase. We are starting to increase our charitable giving to see if we can reach a balance.
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Old 12-11-2014, 10:16 AM   #63
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... We are starting to increase our charitable giving to see if we can reach a balance.
I tipped the newspaper guy this year and have gotten more liberal with tipping in general. Also helped DS with a bill for elective eye surgery. Might as well spread the wealth a bit.
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Old 12-11-2014, 11:33 AM   #64
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After the VPW thread and running the calculator, I know we are living too far below our means. Will work harder to spend in 2015.
More gifting, to family and charities, and upgrading some of our activities is how we've ramped it up a bit. We'll probably buy a higher end car than we would have a few years ago. We enjoyed some nice hotels while traveling in Europe.

You'll know we're feeling very flush when we consider first class airfare. We're nowhere near that since we could do a second two-week Europe trip for the cost difference in airfare.
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Old 12-11-2014, 11:36 AM   #65
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12 years retired. Every year my net worth grows in spite of my best efforts.

DW seems to be better attuned to spending but now that we have all new appliances and a newer car, I think the rate of savings will increase. We are starting to increase our charitable giving to see if we can reach a balance.
Same here, knock on wood!!! Because all it takes is another 2008 to hit that net worth hard.

Our spending has not grown to match our income.
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Old 12-11-2014, 04:38 PM   #66
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Prior to retirement we lived below our means.

At the moment we are living slightly above our means drawing down some savings.

When SS starts in spring of 2016 or perhaps a bit later we'll probably be living below our means but we'll try to ramp it up to within our means. Most likely by spoiling the grandnieces rotten.
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Old 12-11-2014, 06:17 PM   #67
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I think that in retirement, the definition of living above means should be changed. That is, we might think that declining net worth is living above means while in the accumulation phase. Fine.

But, in the withdrawal phase I would argue that the definition should whether your remaining funds are unlikely to last until the end of life. That is, if your net worth in going down because you are 60 and withdrawing 10% each year then you are living above your means as the portfolio is very unlikely to survive.

On the other hand, a 90 year old who is withdrawing X% per year and whose net worth is going down but the 90 year still has enough to fund her for years is not living beyond her means...she is doing what she saved her whole life to be able to do.
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Old 12-11-2014, 06:39 PM   #68
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12 years retired. Every year my net worth grows in spite of my best efforts.
Same here, although it has only been five years for me and the market has been outstanding every year. When we have the next crash I expect my net worth to drop temporarily.
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