Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Retirement Policy Statement (RPS)
Old 06-18-2017, 11:18 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,842
Retirement Policy Statement (RPS)

Interesting Morningstar article on a document that I have not considered, even though I have long ago created my personal IPS. I have not taken the steps necessary to fiddle around with this idea, but I may tackle it on a rainy day in the future.

Quote:
While your RPS isn't likely to contain as much personally identifying information as a master directory, it's still valuable to protect these documents. Note that our RPS template is designed for users with access to Adobe Acrobat, which enables password-protection. If you are opening this template with Adobe Reader (rather than Acrobat), print the document and write in your answers. Store the document in a safe location, such as a locked file drawer or safe deposit box. Alternatively, customize the document by setting up a file with similar fields in Microsoft Excel or Microsoft Word. Both programs enable password-protection.




No matter what format you use for your RPS, be sure to follow these steps.
How to Create a Retirement Policy Statement
__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd 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 Early-Retirement.org 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 06-18-2017, 12:00 PM   #2
Thinks s/he gets paid by the post
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 3,206
Now I know why I didn't retire at 51 when I became FI. I didn't have an RPS.

Fortunately at 58, my j*b suddenly became intolerable so I left. Seems to be working okay after 12 years. Should I go back and do and RPS? Nathhhh!

An RPS is actually probably a pretty good idea. As I looked through the template, I could see that I covered most of the bases, one way or another. As always, YMMV
__________________

__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Old 06-18-2017, 12:09 PM   #3
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,389
Fascinating! I never heard of a Retirement Policy Statement before, so I don't have one.

That said, amazingly my written financial plan that I invented and created as I approached retirement, without any guide for how to do so, includes everything he mentioned. It's just not in a nice PDF document or pretty format. Many fundamental aspects such as AA and rebalancing policies are included in my retirement Excel file, in cells that are bordered in red and labeled "DO NOT TOUCH!" in a big bright red bolded font.
__________________
Always be yourself, express yourself, have faith in yourself; do not go out and look for a successful personality and duplicate it.

― B. Lee








W2R is offline   Reply With Quote
Old 06-18-2017, 12:24 PM   #4
Thinks s/he gets paid by the post
euro's Avatar
 
Join Date: Oct 2015
Posts: 1,099
I don;t have a RPS either... but I can see that it would help me with getting organized a little better. I might take a stab ai some day
__________________
euro is offline   Reply With Quote
Old 06-19-2017, 06:57 AM   #5
Recycles dryer sheets
 
Join Date: Jan 2017
Posts: 273
Or, one can manage in retirement the same way one did before retirement.

Spend only what you have available. Or a little less, if possible.

Don't get me wrong. I have folders full of spreadsheets and planning documents. I just don't see it as anything different from what I've done my whole life.
__________________
CaptTom is offline   Reply With Quote
Old 06-19-2017, 07:34 AM   #6
Thinks s/he gets paid by the post
DrRoy's Avatar
 
Join Date: Dec 2015
Location: Michigan
Posts: 1,636
I guess my RPS is sort of like the British Constitution. I've got one, but it isn't exactly written out in a document. It is sort of: I don't want to work anymore, and I want enough money to do what I do want. Nuff said.

RE'd 3 mo ago.
__________________
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Old 06-19-2017, 12:30 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,404
Hmmm - Over the last 24 years of ER, I done several,formal and informal. Reason being that life did not cooperate with my predictions. Luckily history was kind overall and being 'overly cheap' early years of ER really helped.

To plagiarize do not hesitate to make a new plan when required and stay mobile, hostile and agile.

heh heh heh - So far so good.
__________________

__________________
unclemick is offline   Reply With Quote
Reply


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


Similar Threads
Thread Thread Starter Forum Replies Last Post
retirement plan ridiculous statement dtbach FIRE and Money 15 01-22-2014 06:11 PM
Guyton's Withdrawal Policy Statement article LOL! FIRE and Money 13 03-06-2011 04:43 PM
Do you have a Personal Investment Policy Statement? kyounge1956 FIRE and Money 7 09-22-2010 05:07 PM
Article: Withdrawal Policy Statement LOL! FIRE and Money 52 06-12-2010 08:37 AM
Andy - Progress on Privacy Policy/Statement chinaco Forum Admin 2 12-01-2007 03:57 PM

 

 
All times are GMT -6. The time now is 05:05 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.