Poll: SIRE vs FIRE at ER.org

[Teacher Terry]

Mostly sire with some fire.

 

[Amethyst]

Mostly pension, no inheritance or SS; some investments.

 

[HI Bill]

While I voted a while back, the answer may very well depend on how long one lives, and what rate of return one has on their investments.

If I live to 100, then SS and inheritance(s) will equal ~40% based on today's value of invested assets. If stock markets tanks early in RE, or in a prolonged way, then SS & inheritances might surpass 50%, but the greater likelihood, is that SS and pensions will shrink to a much smaller % if the market returns and sequence of returns are within historical 'norms'. If I die much earlier than 100 (say 70, before I start taking SS), then the $2M in SS benefits (today's $) that my wife and I would otherwise receive, might be closer to $0, and then it's all about investments.

 

[Vacation4us]

What is a pension?

If your gonna collect SS you have a pension.

 

[brett]

Many people have both. And rely on both. We do.

 

[Midpack]

Many people have both. And rely on both. We do.

Not according to most sources I've read. This one says only 22% have pensions, 13% of private sector and 77% of public.

How many American workers participate in workplace retirement plans? | Pension Rights Center

 

[ziggy29]

Too early for us to say for sure while DW is still working, but if I had to guess at it now, about 50% of income would come from our investments (with a projected 3% drawdown), maybe 40% from SS, and about 10% from a puny Megacorp pension I earned from 1988-99. Which would put us right near the 50/50 line...

 

[nancyfrank232]

We are FIRE

Rental property provides the cash flow

We also have retirement accounts and pensions. When those kick in in 20 years, we will be both FI and SI

 

[CyclingInvestor]

100% FIRE from IRA stock dividends

In 9 months SS starts, so then 91% FIRE, 9% SIRE

 

[Winemaker]

2 pensions, portfolio, and rental income, currently. In the future, 2 SS checks over nine years. One at FRA and the other at 70.

 

[bada bing]

If/when I get to 70, I will be intentionally SIRE. At age 70 I want my income to
be locked in and immune to my own screw ups. I plan on deferring both
pension and SS until then. My DIY spreadsheet plan says that at age 70 I
should have a pretty balanced "3-leg retirement stool" with SS, pension and
RMDs each being close to same amount. The pension has no COLA and of
course RMD's should go up over time during the early distribution years.

While waiting for age 70, the next 8.5 years, I'll be mostly FIRE. I'll live off of
my taxable account, probably exhausting it. The only non-portfolio help is
retiree medical.

 

[Spanky]

SS + pension covers ~40%.

 

[audreyh1]

This is a really old poll, right?

Still 100% FIRE

No pensions. Only expect SS in my future.

 

[unclemick]

In the 26th year of ER, FIRE is ballpark 68.50%, SIRE is 25.00% and (drum roll please) not PT work but 6.50% govt. CRP check - we get payed to watch grass grow.

The mix has varied quite a bit over the years as I started at age 50.

heh heh heh - The CRP runs out in 2021. And at 6 years past 70 1/2 my Pals at the IRS get a bigger cut as time marches on.

 

[ckelly78z]

Pension, and SS will cover 50% of our needs...trying to amass the remainder for 30 years.

I don't plan on having an official part time job working for the "man", but will do odd jobs/shop work for cash.

 

[JoeWras]

This is a really old poll, right?

Still 100% FIRE

No pensions. Only expect SS in my future.

Midpack started this a year ago but mentioned that a similar poll was taken a LONG time ago here (guessing over 10 yrs). That first one had more people SIRE.

This one is trending more to FIRE. I'm not surprised as most of us Gen Jones and Gen Xers don't have the pensions of the previous generations.

(Of course, it could also be due to audience weighting, i.e. there apparently was a heavy military retiree community here that has lessened through the years.)

 

[audreyh1]

Midpack started this a year ago but mentioned that a similar poll was taken a LONG time ago here (guessing over 10 yrs). That first one had more people SIRE.

This one is trending more to FIRE. I'm not surprised as most of us Gen Jones and Gen Xers don't have the pensions of the previous generations.

(Of course, it could also be due to audience weighting, i.e. there apparently was a heavy military retiree community here that has lessened through the years.)

OK - I noticed I had answered the poll but thought it was much longer than a year ago.

 

[SunBlueSky]

Still 100% FIRE

No pensions. Only expect SS in my future.

Same here.

 

[WestwardBound]

Newly retired at 57 with a two legged stool. FIRE 100% for ~10 years then start taking my pension which will be about 80% with 20% investments.

Blessed to work for ~30 years at same place that offered pension and 401k.