Join Early Retirement Today
View Poll Results: Would you pull the plug with portfolio success rate of 90% to 85 and 75% to 95 years
Yes 68 43.04%
No 90 56.96%
Voters: 158. You may not vote on this poll

Thread Tools Search this Thread Display Modes
Old 08-18-2012, 04:24 PM   #61
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
Join Date: Jul 2008
Posts: 20,711
I like to see 100% success rate to forever, even though I do not think I will live to the 90s (heck, if I croak in my early 80s, it will not surprise me). Additionally, I am of the same thinking as Bernstein when he says that there is too much unknown in the future to try to pinpoint any precise spending level with any calculator.

My reason is simply a psychological one: I do not want to see my net worth drop significantly. Nope! Once a millionaire, always a millionaire! In fact, it would drive me insane if I get down to, say, 1/2 of what I have now. I need plenty of margin to make sure it does not happen.

And then, if you play with FIRECalc until you get 100%, it will tell you that there just might be a chance, just might be, that you will end up with so much money before you die. I just love this! Outside of FIRECalc, nothing or nobody ever tells me that I had a chance to die a multi-decamillionaire. That's all I got to believe in. Heck, the chance that FIRECalc is right is a lot higher than my winning the lottery (I've got to buy a ticket first though).

PS. I never tell my children this. They may just quit working, and just hang out waiting for me to expire.

"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-18-2012, 05:26 PM   #62
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,991
Originally Posted by NW-Bound View Post

PS. I never tell my children this. They may just quit working, and just hang out waiting for me to expire.
Heck with my kids I'd worry whether they might expedite things along... hey dad ski jumping would be a lot of fun... wanna try it?

ejman is offline   Reply With Quote
Old 08-18-2012, 06:59 PM   #63
Recycles dryer sheets
Join Date: Jul 2011
Posts: 57
Originally Posted by Live And Learn View Post
One of the ideas I toy with is working longer so I can travel more later.
Another approach is to splurge a bit right now and do some traveling. Not everybody's w*rk and situation will allow that, but for most people it is an option.

One approach is to live your life severely below your means for the purpose of ringing the bell on a calculator that says you can't spend your money. Then when you retire, you can do all the things that you refused to spend money on while you were w*rking. Hopefully you live long enough, and your health supports your travels.

Our approach includes an element of 'eat your desert first' in that we are taking some vacations and doing some travel now. I know a few too many people that retired and were taking a dirt nap within three years.
ER Fireball is offline   Reply With Quote
Old 08-18-2012, 08:34 PM   #64
Dryer sheet aficionado
Join Date: Mar 2011
Posts: 28
Originally Posted by Texas Proud View Post
Yes, the cash needs after I would say 80 goes down from what I can see...

My mom traveled a LOT when she was in her 60s and even 70s.... one year she was traveling more than she was at home (and not a move to someplace and live there for awhile, really traveling)....

Now, her life is within 3 miles of where she lives if we (not just me, but all my siblings) do not take her anywhere... she does not want to take a plane anywhere... so the expensive trips stopped a long time ago...
This example by far demonstrates the biggest risk to me, that we wait for the numbers to tell us we're a slam dunk to get to some old age and suboptimize the years we can really enjoy life in order to achieve that. The chances are not great that we'll live to 95 and even much smaller than that, that if we do, they will be high quality years. I'm not looking to "exist", I'm looking to live!

btbw2380 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 06:32 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.