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Re: Retire on 3k per month thoughts...
Old 02-09-2005, 04:39 AM   #61
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Re: Retire on 3k per month thoughts...

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Same with your lifestyle.
If most of us could cut back 50%, we would still be in
the top 1% world wide. Think about it.
That is so true. I'm not religious but we are so blessed here in america that even living very frugally, we have so much more than most people in the world.

Its all a matter of perspective and its unfortunate that its normal for our perspectives to adjust up when our means rise.

I will say one thing that has helped me is that ive made close friends with several people that make less than me and my wife also had much less than i did growing up, so that allows me to save at an ER rate, yet still feel and live comparable to those I surround myself with in my life.
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Re: Retire on 3k per month thoughts...
Old 02-23-2005, 03:56 AM   #62
 
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Re: Retire on 3k per month thoughts...

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John,

I am generally a big fan of your posts, but I do not understand your analogy re: *"...like Grant took Richmond." *From my reading of the history of that War, Grant had a very hard time taking Richmond. *Was that your meaning?
I think it is supposed to be like grant took vicksburg, after a long seage, he crossed the mississippi and took it with little trouble once on the same side as the confederates, they surrendered with resupply cut off.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 08:17 AM   #63
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Re: Retire on 3k per month thoughts...

As the gutting of the middle class continues and wages for the average working family continue to go down, I believe my $3000.00 per month looks more reasonable each day. Price of things have to come down, or nobody will be able to afford things.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 09:23 AM   #64
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Re: Retire on 3k per month thoughts...

If you can't retire on 3K a month we are in big big trouble as my plans don't include ever coming close to that in our lifetimes.

JG
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 09:37 AM   #65
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Re: Retire on 3k per month thoughts...

Oops! Correction................3K is doable after all.
That's what I get for shooting from the lip

JG
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 09:45 AM   #66
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Re: Retire on 3k per month thoughts...

In re. "Thomas" post of Jan. 27. I confirmed previously that
"like Grant took Richmond" is not correct as a metaphor
for an easy victory. Not sure he had any real "easy'
victories. After he took over as commander of all the Union armies they suffered a defeat (forget what battle).
His troops were amazed and enthused when instead of
retreating they got organized and keep heading south.
Under previous Generals they were used to retreat and inactivity following a loss. You can take a lesson from Grant. What worked for him (dogged determination,
patience, and cojones) can produce a successful ER.

JG
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 10:06 AM   #67
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Re: Retire on 3k per month thoughts...

We couldn't do it on 3K per month...but what I really mean is we're not willing to do it.

I respect those who have the dicipline, but if a life of saving couldn't buy us a little more latitude than that I would just keep working till it could, or take on a lower stress job and coast till age 62.

For me, pinching pennies would take some of the fun out ER. I'd rather keep the 3K budget as a fallback. It just depends on your conditioning and expectations.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 11:11 AM   #68
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Re: Retire on 3k per month thoughts...

Hello Rok! Now this is what makes it fun. 3K a month
would be "livin' large" to us. Hell, we are no where
near that presently. Fall-back would be the $50 per day
budget, much discussed and examined here already.
Fall-back from there would be "Possum Living" as
per BlackHillsBob's recent post.

Here is a slightly different slant on this from someone
(that would be me) who has been retired a while.
Most folks here seem to think we are living on the edge of poverty
(not true). BUT, if I had known what I know now, I would have been gone even sooner, and then we would
likely be living on even less money. Why? Mainly because money can't buy you more time. It doesn't matter how much you accumulate or who you are.

JG
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 12:39 PM   #69
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Re: Retire on 3k per month thoughts...

3k a month would be living high on the hog for me too. Of course I'm single so that makes it easy.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 02:43 PM   #70
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Re: Retire on 3k per month thoughts...

As long as we are still working the 3K/month is very generous for the two of us. We are just too damn busy sitting in a cubicle, commuting, working in our business and building our new house that I don't have much time to spend it. (3K is without new house construction cost). I would definitely expect my expenses to go up once I free up that 8+ hours of daily cube time for other interests.

We are getting by on less than 3K a month but the IRS is taking 3K a month. So who am I working for? I can't wait to put a huge dent into the IRS payment.

Vicky
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 02:49 PM   #71
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Re: Retire on 3k per month thoughts...

3k a month is well over my budget average too, but theres no mortgage, car payments or debt servicing to make payments on. And our monthly costs are pretty well kept down by bargain shopping, cooking 95% of our meals at home, neither of us spending much on our wardrobes (we're both jeans and a tee shirt types), and we're not heavy travellers.

A lot of it depends on your lifestyle and what you think is 'important'.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 06:22 PM   #72
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Re: Retire on 3k per month thoughts...

Working so still have some commuting and clothing expenses and am probably spending $2500 a month. Living pretty high at times too with good lunches and restaurants in the evening on occasion. This December the pension will be $2200 if I go then. Should not make a lot of difference when compared to what I am spending now. Currently clearing $3400-$3500 month but not spending it. *Get most everything I want with no worries. *Just myself with big dog and small nervous cat. Caution third glass of wine post.

Somebody tell me to give notice for December *now

Bruce
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 06:44 PM   #73
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Re: Retire on 3k per month thoughts...

I have been tracking my expenses and 3K a month is doable when the kids are on their own. And no mortgage or any other debt. I am currently still working but have started getting things in place to ER soon. With two kids in college the expenses are running alittle high right now.

We are currently spending around 5K to 6K per month but the kids are going through 2k of that a month easy. Hopefully they will be on their own in a year or two.

I guess it just depends on what a person wants. I would say 3k is doable if your debt free.
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 07:12 PM   #74
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Re: Retire on 3k per month thoughts...

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Somebody tell me to give notice for December now

Bruce
Give notice! Or even better, get laid off.

Vicky
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 08:13 PM   #75
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Re: Retire on 3k per month thoughts...

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Give notice! Or even better, get laid off.

Vicky

Now.. how does one go about getting laid off?
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Re: Retire on 3k per month thoughts...
Old 04-23-2005, 10:21 PM   #76
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Re: Retire on 3k per month thoughts...

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Now.. how does one go about getting laid off?

It usually involves alcohol and a lot of lying .....oh wait, laid off, nevermind!
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Re: Retire on 3k per month thoughts...
Old 04-24-2005, 05:56 AM   #77
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Re: Retire on 3k per month thoughts...

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Working so still have some commuting and clothing expenses and am probably spending $2500 a month. Living pretty high at times too with good lunches and restaurants in the evening on occasion. This December the pension will be $2200 if I go then. Should not make a lot of difference when compared to what I am spending now. Currently clearing $3400-$3500 month but not spending it. Get most everything I want with no worries. Just myself with big dog and small nervous cat. Caution third glass of wine post.

Somebody tell me to give notice for December now

Bruce

Give notice for December now.
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Re: Retire on 3k per month thoughts...
Old 04-24-2005, 07:16 AM   #78
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Re: Retire on 3k per month thoughts...

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It usually involves alcohol and a lot of lying .....oh wait, laid off, nevermind! *
*Thank you for my Sunday morning guffaw accompanied by coffee spewing. I love this board

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Re: Retire on 3k per month thoughts...
Old 04-24-2005, 08:21 AM   #79
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Re: Retire on 3k per month thoughts...

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Or even better, get laid off.

Vicky

Good Morning

Not a hope in 'HE double toothpicks' of getting laid off or downsized. It is well known that a bunch of us are eligable for various pensions now or very shortly.

REALLY good one Lawrencewill !!

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Re: Retire on 3k per month thoughts...
Old 04-24-2005, 03:19 PM   #80
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Re: Retire on 3k per month thoughts...

In my type of business we have several layoffs per year. They always seem to be able to 'streamline' something somewhere. However, the older folks generally get forced into early retirement with all the benefits bridged - I don't feel to sorry for them. A few months ago, they finally offered voluntary severance packages after a long time. I think they were unpleasantly suprised how many volunteers showed up.

Vicky
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