Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 10-07-2008, 05:11 AM   #61
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,677
I ER'd in May 08 and so far, I'm worried, but have not panicked.

We were traveling in the UK and Germany over the past 3 weeks and just returned home. This is all over the news there too, and many editorials are lauding our "decisive" efforts at handling the crisis. (O.T. The trip was great and I highly recommend the Lake District in the UK for people who like to hike, and Hamburg is a really cool city.)

My asset allocation is sliding out of balance, but I can't get myself to balance right now. I need to really think this through. Maybe the current asset allocation is in my "safety zone" rather than my previously determined one.

We'll probably be a little more thrifty, but already have travel plans through Feb of next year that I don't plan on changing.

We ER'd for a trial one year period, so we may just go back to work for a few more years if this mess continues. Hopefully, we'll be able to find jobs if we take that path.

Till then, I'm going to enjoy TODAY.
__________________

__________________
walkinwood 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!

Squirreling away for the upcoming recession
Old 10-07-2008, 10:45 AM   #62
Dryer sheet wannabe
Freeatlast47's Avatar
 
Join Date: Aug 2007
Posts: 14
Squirreling away for the upcoming recession

I ER'd in 2006 at 46, and have seen 40% loss in my account of equities. I am in the process of doing the following :
1.Set aside enough cash for the next five years
2. Cutting back on groceries like processed food and eating out.
3. Cut the clothing bugdet
4. Cut , travel.
5. Leave enough in the equities market until the rebound possibly 2013.

This leaves just enough for the basics. My lifestyle will be completely different than it was last year. My husband still works, but the thought of me going back to work in IT business and working 12 hours a day is out of the question. My husband however has decided to delay his retirement for a few years However in hindsight I wish I took out more cash sooner a year ago.
__________________

__________________
Freeatlast47 is offline   Reply With Quote
Old 10-07-2008, 10:48 AM   #63
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by Freeatlast47 View Post
5. Leave enough in the equities market until the rebound possibly 2013.
This is teaching me some things. Once the market recovers -- and it will eventually -- I'll probably be reducing my allocation to stocks from 70% to somewhere in the 50-60% range. Looking over the numbers again, I probably had been taking more risk than I needed in order to accumulate what I think we need, when we need it.

Now that's blown up, and all we can do is hope for enough of a recovery to start reducing my allocation to equities, knowing that now is a terrible time to do it...
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 10-07-2008, 11:24 AM   #64
Dryer sheet wannabe
Freeatlast47's Avatar
 
Join Date: Aug 2007
Posts: 14
Last downturn in 1999 to 2002 I recovered all my losses. 2002-2006 I finally saw the gains. This downturn I am not so sure will be that quick. 5 years set aside for now and if a short term trend of upward movement arises in stocks I will take the opportunity and cash out some more cash to either increase my 5 year budget or extend the spartan living for another few years. Wont' really know until first quarter of 2009 to see how this mess unwinds.
__________________
Freeatlast47 is offline   Reply With Quote
Old 10-07-2008, 07:54 PM   #65
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
meeting with sil on friday for lunch and to check out the ranch. i'll do a trial week or two later this month. they've set me up with some bits of furniture. turns out it is just a 2/1 so i will rethink the roommate, but i still might like to have one. ranch has well water, not city, but there's a water softener and sil says she never noticed a sulfer smell. i drink bottled anyway but the softener will make showering pleasant.

the kangaroo peed all over the carpet so bro & sil tore that out, installing new. i'll be paying elec & cable & internet. so by renting out my house, all housing costs will zero out. a roommate brings in additional $500/month. i'm still very nervous about leaving my house but talking myself into it. would be hard to become a vagabond if i can never leave my house so i'm considering the ranch to be the first stop on my world tour. i've been in this house for 14 years. wow. (i'm still such a freaking homebody, any bets that the next stop on this world tour is to move in with my cousins on maui?)

with just the housing savings, my expenditures are reduced by about 30%. with the income of a roommate and, if i want, with some line item cuts (clothing, book/cd budget, etc) i can easily reduce by another 20% while keeping some luxuries like the gym, restaurants and the like. then, of course, if i get a job, well, the income's just gonna be gravy.

sil takes care of horses when i want a vacation. with this economy, i don't foresee anything other than my usual 3-4 day roadtrips locally. (after i return from leaf peeping, of course.) now all i have to do is train the horses to sleep late and i'm set.

Quote:
Originally Posted by REWahoo View Post
The one action I am seriously contemplating is starting my SS benefits in a couple of months when I turn 62.
just a little over ten years behind ya. though i suspect the time will go a little faster once i secure a job.

Quote:
Originally Posted by Cattusbabe View Post
DH and I are in about the same situation as Cyclinginvestor.
i could have lived similarly overseas and would've been having fun today had i not gotten caught with all this real estate around my ankles. live and learn.

Quote:
Originally Posted by Moemg View Post
The only changes I've made is to ratchet down the remodeling to only necessary items . My tile from h--- will be staying covered by a new area rug . We've also cut back on travel , instead of a New England cruise we are doing a trip to Savannah .
cutting my autumn 2008 trip in half timewise. also i'm going at very end of season when mountain hotels drop their prices by half. hopefully there will still be some color left to the leaves. i figure it will likely be very end of autumn in the high elevations of the blue ridge parkway where it's fun to drive but looking down might make for some colorful views (also will be doing skyline drive in virginia). i'm lucking out with gas prices. since i started planning this trip, prices have dropped enough to pay for a night at a hotel.

Quote:
Originally Posted by haha View Post
Maybe we are going to get a depression, but unless it is a really really bad one, a lot of these stocks seem like they are already there.
i handle knowing bad news better than i handle not knowing not so bad news. spoke with my uncle/accountant over weekend. i've never seen this guy with so little to say. he still works in the industry at age 70something. very well connected, lost friends to 911, blablabla. i could not get out of him what he thought was happening or where we might be headed.

he commented only on his surprise that i was considering going back to work. he seemed happy but only because he thinks everyone should always work. i did not get a sense that he thought i needed to work. but his silence on specifics even when asked directly was unnerving. these guys just don't know and not knowing spooks me.

Quote:
Originally Posted by toofrugalformycat View Post
One of my friends has had four of her friends die recently, all about our age. She tells me repeatedly that DH and I made the right decision to live frugally, ER and enjoy our lives. I agree with her.
i'm all for frugal but this sure does highlight the danger of retiring (not you specifically, speaking generally) on a shoestring. there has to be something that can be cut from a budget in bad times--gym, restaurants, clothing, whatever. on another thread, a poster was describing his idea of a future life overseas on a $13k/year budget. it sounds just beautiful, bohemian in a certain light. only in this economy, i couldn't sleep at night.

Quote:
Originally Posted by ST in London View Post
Uhhhh, I use "expect the best" for optimism and "no idea of what I speak" for hope.

Trans-Atlantic thingy maybe.
ST
hey, i speak english too, ya know. of course, i learned most of it from monty python, coupling and series 1-5 (not six) of my hero.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 10-11-2008, 02:20 PM   #66
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
a photogram: "in lieu of thailand"

(again, pardon poor pic quality, camera works only on occasion--just have to snap enough shots--will send to shop after upcoming roadtrip.)

did my orientation yesterday. fed all the horses. really enjoyed it very much. very fun. some of them are sooo pushy though, especially for that tasty grain. before feeding i aquainted myself with my new neighbors. one young'n went to kick me (missed, nya nya); gotta little too frisky, i guess. lesson of the day: don't play with horses like when i used to wrestle with wolfpuppy.

welcome to lazy acres


my new little house on the prairie


depression era housing


i've a feeling there's a theme here but i can't quite put my finger on it.


my new office (tough day at the office, dear?)


hdtv country style


new little knee high friend


niece's horse was getting a pedicure while i was there...


rescue horse gets a bath. my sil took her in at about 6 months. abused and neglected, the baby horse was totally skittish on arrival. but with sil's good work, she has developed into a gorgeous, gentle, incredibly friendly beast of burden.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 10-11-2008, 07:58 PM   #67
Thinks s/he gets paid by the post
 
Join Date: Oct 2005
Posts: 4,898
Wow, Lazy! You've got it made! That's a really lovely ranch with some great horses too. And a kangaroo? Wow. Paradise for an animal lover. Do they have any llamas? Lucky you. Just watch out for that frisky young'n.
__________________
Zoocat is offline   Reply With Quote
Old 10-11-2008, 08:29 PM   #68
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,442
Do you have to shovel poop?
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 10-11-2008, 10:18 PM   #69
Thinks s/he gets paid by the post
redduck's Avatar
 
Join Date: Mar 2005
Location: yonder
Posts: 2,071
Quote:
Originally Posted by dex View Post
I have to agree. Those with cash will be able to get great deals on everything in the near future.
Dex: When the near future is almost here, would you let me know?

Thanks.
__________________
redduck is online now   Reply With Quote
Old 10-12-2008, 08:26 AM   #70
Full time employment: Posting here.
toofrugalformycat's Avatar
 
Join Date: Mar 2007
Location: Anchorage
Posts: 731
Lazy: I had to pry myself away from my house when DH and I traveled for a year and rented it out. I had lots of misgivings. After a couple of weeks I wondered how I could have possibly gotten so emotionally attached to one place. Maybe it'll be the same with you.
What a lovely new home you have! And I'll bet all those critters will find your political and other opinions to be completely correct, or at least they will not talk back to you in English. But keep clear of the kick zone! That's my entire horse expertise.
__________________
toofrugalformycat is offline   Reply With Quote
Old 10-12-2008, 11:13 AM   #71
Thinks s/he gets paid by the post
happy2bretired's Avatar
 
Join Date: Mar 2007
Location: Nebraska
Posts: 1,340
Oh, Lazy...sooo nice! Sounds like a dream job really.
__________________
happy2bretired is offline   Reply With Quote
Old 10-12-2008, 06:31 PM   #72
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Quote:
Originally Posted by Oldbabe View Post
Wow, Lazy! You've got it made! That's a really lovely ranch with some great horses too. And a kangaroo? Wow. Paradise for an animal lover. Do they have any llamas? Lucky you. Just watch out for that frisky young'n.
i don't know if i've got it made or making do with what i've got. i'd really rather have already sold out and been off touring the world by now. it's so hard to seriously plan for a worldwide economic collapse. this is a very good deal for brother and for me. plus this brings me just minutes to them so i get more family time which i enjoy. niece will be there everyday jumping and mucking her stall and nephew will be there because he enjoys all the tractor work. my ulterior motive: bond with the kids now so they'll take care of me in my old age.

as to the kick, that was kinda my fault. i was horsing around too rough with a horse who didn't know me. must remember: horse much bigger than dog. i used to rough up my nephew before his parents tried putting him down to bed too (the annoying uncle).

kangaroo is gone. actually a bit exaggerated. was a baby wallaby (kangaroo sounds funnier). idiot past ranch manager let it free range in the house. kangaroo pee everywhere had to be cleaned. carpets torn out. etc.

fortunately for my brother, i would never do such a thing. though you shouldn't be surprised to see me lying on the floor watching tv with the miniature horse in the house.

no llamas though that would be fun. i'd really love to have a giraffe but i guess i'd have to build higher fences.

Quote:
Originally Posted by Dawg54 View Post
Do you have to shovel poop?
um, only in trying to find my way around here, apparently. i actually have no problem with manure. it's not like when i was cleaning up dog crap three times a day for over a decade when i had wolfpuppy. finally i have found my calling in life.

the horse owners muck their own stalls & corrals. my job is to play with their horses. also i feed them which is way fun. i have to sweep the stable center aisle but owners have to sweep in front of their stalls. also i'll do some landscaping. i want to grow grass in the corrals, guess i'll cordon sections off at a time. i want to plant some shade making plants because there's only palms there now. maybe intermingle some poinciana (about the fastest growing tree alive) & jacaranda trees. also of course bamboo. i'll have to protect the shoots which i'm sure the horses will try to eat.

Quote:
Originally Posted by toofrugalformycat View Post
Lazy: I had to pry myself away from my house when DH and I traveled for a year and rented it out. I had lots of misgivings. After a couple of weeks I wondered how I could have possibly gotten so emotionally attached to one place. Maybe it'll be the same with you.
What a lovely new home you have! And I'll bet all those critters will find your political and other opinions to be completely correct.
thanx for that input. feeling very much the same. when i spent the other day on the ranch i was completely comfortable and happy while i was there. i didn't get nervous again until after i got back home. there is security here but also i know it is a trap setting me in my ways. i think this is a good move. i just have to finish talking myself into it.

so right about the animals. in fact, i understand they are they are totally not totalitarians.


i don't think the minihorse is gay but with that braided mane, he seems to be a bit of a hetero cross-dresser. what, me judge?

Quote:
Originally Posted by happy2bretired View Post
Oh, Lazy...sooo nice! Sounds like a dream job really.
this part is the dream job. but also the ranch is not too far from two hospitals and a medical center so i thought there's a good recession proof place to find a clerk position or something during the day. maybe i'll meet a cute doctor who will wisk me away from my drab existence.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 10-13-2008, 08:39 AM   #73
Recycles dryer sheets
In-control's Avatar
 
Join Date: Mar 2007
Posts: 319
Before I was FIRE I read allot of books on asset allocation and the history of the market. I came to the conclusion that 5 years of living expenses in cash was my comfort zone and that I could weather any financial storm. Funny how this turned into a 40%stock/40%bond/20%cash position. I build a laddered CD and am now building my 2013 budget. All of by earnings for this year are designed to fund my 2013 budget. I also have no debt.

I sleep well with this approach - the real litmus test!
__________________
Just Trekking thru!
In-control is offline   Reply With Quote
Old 10-13-2008, 08:50 AM   #74
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,139
Quote:
Originally Posted by In-control View Post
I came to the conclusion that 5 years of living expenses in cash was my comfort zone and that I could weather any financial storm. Funny how this turned into a 40%stock/40%bond/20%cash position.
I came up with essentially the same allocation but would not go so far as to say it will weather any financial storm. I'm just hoping it will weather this one.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 10-13-2008, 09:34 AM   #75
Full time employment: Posting here.
toofrugalformycat's Avatar
 
Join Date: Mar 2007
Location: Anchorage
Posts: 731
Quote:
Originally Posted by lazygood4nothinbum View Post
i don't think the minihorse is gay but with that braided mane, he seems to be a bit of a hetero cross-dresser. what, me judge?
Maybe he's metrosexual? Or just a hippy born too late.
__________________
toofrugalformycat is offline   Reply With Quote
Old 10-13-2008, 04:08 PM   #76
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
could be, or, i did smell something funny by the barn. maybe he's rastafarian.

edit: emailed comment from friend today who received copy of my photogram:

"You’re living like a blue collar criminal at fancy work camp."
__________________

__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum 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
Storm Pictures TromboneAl Other topics 6 01-07-2008 11:34 AM
Perfect Storm wabmester FIRE and Money 18 03-10-2007 03:33 PM
I'm Back -- What a Storm! TromboneAl Other topics 17 01-13-2006 10:46 AM
Have you battened the Hatches? Unclemick? Cut-Throat Other topics 15 07-09-2005 05:03 PM

 

 
All times are GMT -6. The time now is 12:06 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.