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Old 12-20-2014, 03:54 PM   #21
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Originally Posted by Senator View Post
Anyone that takes any number, 50%, 80%, or 120% found on the internet as 'their number', needs to keep working.
There ya go! We are in full agreement. There is too much variability in what's included (or not) in both the numerator and denominator that determine those percentages that they're more than meaningless, they're dangerous.

The guy spending at a 120% of his working income level may be living more conservatively than the guy spending at 50%.

I'm all for working in absolute numbers.

I do absolutely agree with you that there are expenditures encountered while working that will go away once you are retired and they can be significant. I just handle them in absolute numbers and not in percentages related to my final income while working.

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Old 12-20-2014, 05:54 PM   #22
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This post is so unlike Midpack. It's like one of those Sunday puzzles -find 5 things wrong with this picture.
I can't believe people are getting money for cut and paste information like this(the book author/publisher)

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Old 12-20-2014, 06:10 PM   #23
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Originally Posted by foxfirev5 View Post
Heck if they wait until they're 85 they'll need to save next to nothing. This must be the plan of many.
Well, as I see it some people just are not good at saving money. I am not even talking about investing, just saving anything at the end of the month. Some people just can't seem to do it.
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
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Old 12-20-2014, 10:25 PM   #24
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Originally Posted by Texconsin View Post
We also get $30 per payroll ($780 per year) toward the HSA max...

When the taxman throws you a bone, you clamp down and don't let go. Just so they don't go to means testing when I retire...but, isn't that the whole point of progressive tax rates when I'm working?
My company gives me I think $400 a year for HSA. And I get free VA healthcare, so I am going to use them more this year to save money.

If they ever go to means testing for SS or a 401K withdrawal, I am screwed...
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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Old 12-21-2014, 07:34 AM   #25
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Originally Posted by lemming View Post
This post is so unlike Midpack. It's like one of those Sunday puzzles -find 5 things wrong with this picture.
I can't believe people are getting money for cut and paste information like this(the book author/publisher)
Wow. Obviously there are unlimited sets of assumptions, so the exact numbers aren't the point. If you want to see the numbers for a different set of assumptions, the math is not that hard.

The point was only to provide an illustration of the relative portfolios required at 62, 66 & 70 due to increased Soc Sec benefits and fewer years of retirement income. Would you dispute the portfolio required (to provide retirement income to supplement Soc Sec benefits) decreases significantly by waiting to retire at 62 vs 66 vs 70?

Again, the intent was for those members here who may be asked to (casually) advise folks who can't retire early. I know too many.

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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