Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Spending in early retirement
Old 06-11-2004, 01:55 PM   #61
Full time employment: Posting here.
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 821
Re: Spending in early retirement

I was also living on 40% of my income, pre-retirement. I thought that it would be a lot cheaper to be retired but that is not so. Unlike others who cut down on eating out, I've had lunch out M / W / Th / F this week. I think the 'pinch' I'm feeling is that I can only save about 15% of my income right now.

I took 15k from the 457 to convert the rest of my pension from Tier 2 to Tier 3 but don't anticipate taking any more until late in 2005 (for prop taxes & ins). I've tried digesting the SWR posts but don't feel even intelligent enough to ask a reasonably intelligent question (sort of along the lines of what portion of the annual gain can I withdraw without my 457 funds running out?) This is really important as my COLA on the defined benefit plan is capped at 4%. So I am concerned that eventually I'll have to touch principle to continue traveling or SSA will have to be there in 10 - 15 yrs when I become eligible (not counting on the latter) or I'll have to make a real profit on the tax preparation business

It is my play time now -- I worked hard for 20 yrs and deserve it!!
__________________

__________________
gayl 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!

Re: Spending in early retirement
Old 06-11-2004, 03:06 PM   #62
 
Posts: n/a
Re: Spending in early retirement

Quote:
Unlike others who cut down on eating out, I've had lunch out M / W / Th / F this week.
I could not afford the calories doing this! - You need to substitute another cheaper activity instead of this. I hit the gym for a couple hours a day. I eat only a half a sandwich and a piece of fruit for lunch every day.

People always say to me 'You're lucky - you don't have to diet' - This is like saying to an 'ER' - your lucky you're rich and don't have to work!

My wife and I both have a Gym membership that we bought into at the opening of a beautiful facility - Huge - Indoor/Outdoor Pools - for $38 a month for life - Can never be increased!

So Channel your extra time into activities that will make you healthier and not as expensive. Then you'll always have money for Travel as well as room for a few extra calories
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-11-2004, 03:30 PM   #63
 
Posts: n/a
Re: Spending in early retirement

Cut-Throat and I have quite different lifestyles, although
this is in no way critical. He has a $30.00 per month
membership (for life) to a health club. I do not understand why anyone would join a health club, no matter how cheap. I get a terrific workout every day
and don't pay a penny for it. Truly, even when I was spending like there was no tomorrow, I never
considered a health club. A total 100% waste, IMHO.

John Galt
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 01:35 AM   #64
Full time employment: Posting here.
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 821
Re: Spending in early retirement

Quote:
I could not afford the calories doing this!
I can't either. I must be up about 5 lbs since retiring despite losing 4 on the cruise! The only exercise I get is sit-ups and hiking. Obviously not enough!
Quote:
Welcome Gayl--congratulations on your G.D.E.R. ... Actually, I'd much rather spend now at 50, than to save for some lavish spending at 60-70-80-90. AND I'd definitely rather die broke, than a multimillionaire mizer...Even though we've managed to save during our ER, it was NOT our intent. Our only concern was NOT to totally depleat our savings prior to SS kicking in
I'm just concerned that inflation will rear its ugly head. I get a COLA and have targeted funds to kick in at 59.5 (IRA), 457 earns at least 5% per annum and I plan to start withdrawing that much next year, and will take SSA early at 62 (full retirement benefit doesn't kick in until 67). I sometimes become concerned that I might have baled too soon financially. Not that I would ever entertain going back! When I saved so much for so many years, its hard to imagine not saving monthly now.

BTW: what does G.D.E.R. mean? I get the ER part (early retire -- although retiring at 52 hardly seems early)
__________________
gayl is offline   Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 05:33 AM   #65
 
Posts: n/a
Re: Spending in early retirement

Quote:
I can't either. I must be up about 5 lbs since retiring despite losing 4 on the cruise
You lost weight on a Cruise! You're the only one I've ever heard that's done this! You must have not shown up for dinner!

I usually try to limit myself by only gaining 2 pounds when I'm cruising.



__________________
  Reply With Quote
, if she makes iRe: Spending in early retirement
Old 06-12-2004, 05:39 AM   #66
 
Posts: n/a
, if she makes iRe: Spending in early retirement

I used to be about Cut-Throat's size (in my case
5'9 and 150 lbs.) I am up about 5 lbs. since I remarried.
Wife is an excellent cook and although I ask her to cut back, if she makes it I usually eat it.
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 03:17 PM   #67
Full time employment: Posting here.
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 821
Re: Spending in early retirement

Quote:
It almost sounds like you enjoy worrying.... *trying to save now for later just doesn't make alot of sense to me. *It should be alot easier to economize, if necessary, when I'm old or at least older. Hopefully, any losses in buying power to inflation will be accompanied with declining living expenses. *SS at 62, will be a windfall and should make up for any 'losses' to inflation...It seems like some here, get some kind of pleasure from concocting doomsday scenarios and finding ways that the sky might fall. *Just enjoy and relax - whatever will be - will be.
I plan on traveling more and more as I am still relatively young and in great shape. Plus my dad lived to 88 with CHF / multiple MI's & strokes so I should live at least that long. Therefore, my expenses won't go down. There is so much hype re: SSA -- whether it'll be around or not -- I agree that I don't have anything to worry about if it's there. I spent my life saving / planning for the future, it's hard for me to retire old habits. I'm still relatively new to this side of the coin and don't ever want to rejoin the rat race. I tried to check out whether I was okay on another site (moneycentral) and was told that I was too extravagent to avoid returning to work. Thanks to everyone here for convincing me otherwise.

Like I said in another post, I am still reinventing myself and that includes discarding old habits.

Cutthroat: I ate the light meals which actually were better than the regular ones and never took an elevator. Lost 2 kilos. Regained 9 lbs since being back (hence up 5 since retirement). Now I'll try the 1/2 sandwich & fruit for one meal a day.
__________________
gayl is offline   Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 03:24 PM   #68
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Spending in early retirement

I only went on a cruise once.

It wasnt until the last day that I found out that the number of meals they put on didnt all have to be attended.

And to think I forced myself to stay up late for the 2am caviar bar and then pulled myself out of bed at 6am for the early breakfast buffet, thinking it was all mandatory...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 06:54 PM   #69
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Spending in early retirement

Let me see if I've got this straight, Cut-Throat. You're happy to pay for a gym membership, but you don't like the idea of mowing your lawn?

Gyms are for the working class. As a retiree, I'm in no hurry to get most places, so I may walk or ride my bike. I mow my own lawn (4 of them, actually). I lift plenty of weight in the form of construction debris from remodeling, dragging the trash cans up my steep 1/4-mile driveway, and buying large bags of dog food from costco.

And I've got lots more time for recreation, which is usually paddling, sailing, cycling, or hiking.

Since I've retired, I've lost weight and my blood pressure has dropped considerably. Who needs a gym?
__________________
wabmester is offline   Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 07:29 PM   #70
 
Posts: n/a
Re: Spending in early retirement

Quote:
Let me see if I've got this straight, Cut-Throat. You're happy to pay for a gym membership, but you don't like the idea of mowing your lawn?
Well, I never got my heart rate up mowing the lawn. Plus I really never liked the noise or what it did to my allergies or that I had do it during the day etc. etc.

Whatever works for you WABB Blow ME!
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 08:22 PM   #71
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Spending in early retirement

Quote:
Whatever works for you WABB Blow ME!
ROFL. Milk just shot out of my nose.

I wasnt even drinking milk. Weird.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Spending in early retirement
Old 06-12-2004, 08:34 PM   #72
Full time employment: Posting here.
 
Join Date: Sep 2003
Posts: 902
Re: Spending in early retirement

I'm still laughing 10 minutes later! Man, I've got to get out more!
__________________
Bob_Smith is offline   Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 06:29 AM   #73
 
Posts: n/a
Re: Spending in early retirement

Hello all. TH, something shot out of my nose too.
We are still trying to identify it

Cut-throat my boy, far be it from me to tell you how to spend your money. It has been my opinion for my entire life that "health clubs" are nutty. Why bother?
Take a long hike (plus you get to be outdoors).
I felt perky yesterday so I washed the truck, bathed
the dog, powerwashed the entire house, and installed
a window air conditioner. That's more than enough working
out for me. Even too tired for sex, which BTW can be
an excellent workout, although my ex-wife was an exception to this rule.

John Galt
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 10:27 AM   #74
Thinks s/he gets paid by the post
BigMoneyJim's Avatar
 
Join Date: Feb 2003
Location: DFW
Posts: 2,627
Re: Spending in early retirement

Quote:
By the way, for any of the rookies on this board. Don't ever question Cut-Throats lifestyle
And what's with the fishing? You spend all this money on a fly fishing rig, hip waders and camping out, sit around for hours with a string in a puddle. Heck, there's a Long John Silver's two blocks from me running a special. Way cheaper if you ask me. Don't you have a cheap seafood restaurant nearby?

Oh wait, you're catch-and-release? What the hell is that all about? What a waste of time! Go to Wal-Mart and get a goldfish, a bowl and a net. Catch-and-release at home for much cheaper.
__________________
BigMoneyJim is offline   Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 10:45 AM   #75
 
Posts: n/a
Re: Spending in early retirement

Quote:
Oh wait, you're catch-and-release? What the hell is that all about? What a waste of time! Go to Wal-Mart and get a goldfish, a bowl and a net. Catch-and-release at home for much cheaper.
What a money saving forum this is. I can probably save $10 grand a year on this suggestion alone!
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 11:53 AM   #76
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Spending in early retirement

Health clubs have one overriding benefit: meeting women.

Of course you have to work out heavily at home for 2 years to look good enough to make the initial investment worthwhile.

Oh yeah, you meet some guy friends too. So what.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 12:17 PM   #77
Thinks s/he gets paid by the post
BigMoneyJim's Avatar
 
Join Date: Feb 2003
Location: DFW
Posts: 2,627
Re: Spending in early retirement

Quote:
2 guys wanted to date me. I was married with 2 children at the time, and neither one of them had even started an IRA.
Neither of the guys or neither of the children? 8)

Quote:
AND what's with that fly fisher in your sig block - just keeps casting and never catches a d@mn thing.
You're obviously not a fisherman. You just haven't sat and watched long enough. Fishing takes patience. Keep watching it for a few hours.
__________________
BigMoneyJim is offline   Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 04:43 PM   #78
Dryer sheet aficionado
 
Join Date: Mar 2004
Posts: 45
Re: Spending in early retirement

Fishin seems pretty boring. Never been interested in it. Did have a good time once on a group deep sea fishin trip out of Monterey Bay - I hooked a small shark that swam around and got everybodies lines tangled. Some guy gaffed the shark brought it on deck where it jumped about until it was clubed. It was a fun trip.

As I get older though I'm starting to think maybe fishing would be something to do while camped out near some river or lake when I'm tired of hiking, reading etc. Fresh trout for breakfast does sound good.

hmm how to bait a hook, use a lure, super duper talk, tie a fly........

__________________
riverrat is offline   Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 04:55 PM   #79
 
Posts: n/a
Re: Spending in early retirement

I think fishing is one of the most interesting
activities you can engage in. Never boring for me.
As anyone who fishes can tell you, there is a whole lot more involved than just caching a fish. If you do not
understand, it is very hard to explain. Same with hunting. Really difficult to explain it to non-participants.

John Galt
__________________
  Reply With Quote
Re: Spending in early retirement
Old 06-13-2004, 05:15 PM   #80
Dryer sheet aficionado
 
Join Date: Mar 2004
Posts: 45
Re: Spending in early retirement

Maybe doin is the key - my dad & brother and redbone hound had a good time hunting back in my youth and I know you can[t explain that to someone unless they've done it. Now that I'll have some time I might try fishin - I see guy practising fly fishin at the ponds aiming for the hoops in the water. It could be fun hookin a big one like Cutthroat - I might just try it.
__________________

__________________
riverrat 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
Is Early Retirement in Your Stars? REWahoo Other topics 1 12-14-2006 05:48 PM
Need People For Early Retirement Article bes Hi, I am... 25 02-27-2006 02:04 PM
Hmm! Forced Early Retirement?!? Bimmerbill Young Dreamers 2 02-09-2006 03:26 PM
Early Retirement and 401k elb Young Dreamers 5 11-15-2004 06:10 PM

 

 
All times are GMT -6. The time now is 11:26 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.