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Two Year Financial Assessment
Old 06-04-2013, 04:05 PM   #1
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Two Year Financial Assessment

For about 1 year pre-retirement, I maintained an elaborate spreadsheet (workbook, actually) of expenditures, assets, and income updated monthly and reviewed several times a week. I also used Mint for daily oversight. Like most people here, I determined after 6 months of tracking that I was FI & decided to RE.

After ER I slowly stopped updating the spreadsheet as frequently but I still watched daily balances via Mint.

First 6 months - monthly updates
Next year - quarterly updates

I'd spent a lot (for me) on home improvements over the last 2 years significant reducing my cash. Therefore, I was concerned about how soon I'd need to dip into investments. Today, the first time since July 2012, I decided to update the spreadsheet.

Happily, I found that I'm still in decent shape due to fixed assets and investments increasing value and -- more importantly -- I'm not spending as much as I had previously estimated in my spreadsheet!! In fact, I can easily live on my itty bitty pension which is a mere 30% of my ending MegaCorp salary. I'm even thinking that I might hold off on collecting SS to FRA. (I had planned to collect early to cover health insurance until I am Medicare eligible.)

I'm so happy about this that I had to start this thread. After all, where else can we share this kind of thing? Have others here experienced happy news? Conversely, has anyone been disappointed after a few years of ER?
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Old 06-04-2013, 04:25 PM   #2
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Congratulations on your success!
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Old 06-04-2013, 04:39 PM   #3
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Sounds like you can retire your workbook, now for the happy dance
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Old 06-04-2013, 04:43 PM   #4
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Beryl, this is a good thread idea. It's actually very important to reassess the situation a couple of years into ER. If things are going well, it is very reassuring. If things are going to he'll in a handcart, a person can recover by getting a j*b or by enhanced frugality!
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Old 06-04-2013, 04:56 PM   #5
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Yes, please post as I am only 3 months into RE and am finding I am spending more than I expected, but some of that is due to relocating and one time expenses. I didn't expect to spend so much on remodel, repairs and just stuff like plants. I'm still working part time, so that is absorbing the costs. Still panicking a little.
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Old 06-04-2013, 05:24 PM   #6
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Quote:
Originally Posted by Throwdownmyaceinthehole View Post
Yes, please post as I am only 3 months into RE and am finding I am spending more than I expected, but some of that is due to relocating and one time expenses. I didn't expect to spend so much on remodel, repairs and just stuff like plants. I'm still working part time, so that is absorbing the costs. Still panicking a little.
Take a deep breath because I don't think you are alone in spending a little more in the first few months. I did and I also was nervous partially because my investments were not growing either! I think that played a part in me not updating my spreadsheet also.

The one-time expenses happen and you should look at them long-term. For example, I spent $3000 on a lifetime membership to my sorority which reduces my annual dues by around $250. I plan to live and belong to my sorority for more than 12 years so it was a wise investment, IMO.
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