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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 04:56 PM   #21
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by mickeyd
Sure you can. It's your stash. Go for it.

Just don't live too long.
So if I acquire $2.5 million in real investment assets at FIRE, I can't withdraw $80K a year, or is my understanding of Firecalc too rudimentary??

That has always been the goal..........although I was thinking 6% @ $2million in the late 90's...........

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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 05:02 PM   #22
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by Khan
I can't think of many things I want.
Yep, that's what I'm after-- more crap valuable possessions to care for...
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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 05:10 PM   #23
 
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by Nords
Yep, that's what I'm after-- more crap valuable possessions to care for...
Don't buy anything that Flies, Floats or needs Feeding (there was another F, but it slipped my mind ) -

Rent it!
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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 05:14 PM   #24
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by Cut-Throat
Don't buy anything that Flies, Floats or needs Feeding (there was another F, but it slipped my mind ) -
Geez, now I find out. That could've accelerated my ER by over a decade!

Say, is there a book or a piece of special equipment I could buy to implement that system at our house? I'll probably need two or three so that we don't have to share or in case one stops working...
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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 05:37 PM   #25
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Re: What about Living ABOVE Your Means After FIRE???

If you want to spend more now and look for a lower rate of expenditure later, use Bernicke or Guyton. If I had the guts to do it, I'd be gone now. I'm still driving for the 4% SWR. It's close but not quite there.
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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 06:00 PM   #26
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Re: What about Living ABOVE Your Means After FIRE???

Quote:
Originally Posted by Nords
Yep, that's what I'm after-- more crap valuable possessions to care for...
What's a good surf board cost these days?

But I'm with you - much less about "things" than experiences which, unfortunately, cost a lot too in some cases.
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Re: What about Living ABOVE Your Means After FIRE???
Old 11-30-2006, 06:59 PM   #27
 
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by Rich_in_Tampa
What's a good surf board cost these days?

But I'm with you - much less about "things" than experiences which, unfortunately, cost a lot too in some cases.
Reminds me of the old Joke!

Dear what do you want for Christmas - A Diamond Ring?

'No"

How about a new Mink Coat?

"No"

How about that cute little Mercedes Convertable?

"No"

Well - what do you want?

"I want a Divorce"!

Gee - I hadn't planned on spending that Much!

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Re: What about Living ABOVE Your Means After FIRE???
Old 12-01-2006, 01:52 PM   #28
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Re: What about Living ABOVE Your Means After FIRE???

I understand the issue raised here well.

My wife and I have lived below our means for years, and we've invested well.

The net result is that our retirement income will be at least what we're making now and probably more, (even before social security).

I've already created a trust for my children and (unborn) grandchildren, but doubt that I will be comfortable spending a whole lot more than I have monthly on average for the past almost 40 years. But, then again, I may surprise myself. Work has been the focus of much of my life, and I've only been to Europe twice, Australia and South Africa once, etc ...

August 1, 2008, is the final-final retirement date at age 61. (Someone may recall that I had said it would be February 1, 2007, but an interesting opportunity in a distant state seemed [and was] worth taking a detour for.)

Given the highly responsible nature of most posters to this site, I suspect there are others in the same pleasant position -- at least I hope so. Like me (and Martha who announced her retirement on another site today), I suspect many of those are gearing down even now.





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Re: What about Living ABOVE Your Means After FIRE???
Old 12-02-2006, 08:31 AM   #29
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Re: What about Living ABOVE Your Means After FIRE???

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Originally Posted by Rich_in_Tampa
Liking my work makes it easy to wait.
That is the key. A number of people here are more than willing to ER and continue a LBYMs lifestyle because it is better life than their working life.

Oh, I split off the discussion on teacher pay.
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Re: What about Living ABOVE Your Means After FIRE???
Old 12-03-2006, 10:05 PM   #30
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Re: What about Living ABOVE Your Means After FIRE???

Quote:
Originally Posted by playaman
Like me (and Martha who announced her retirement on another site today), I suspect many of those are gearing down even now.
Martha,
Is that right? Are you now officially on our side of the hill? If so, Congrats!

As for the thread overalll -- it is really tempting to gild the lily a little more , work another two years, save another 100k whatever. It is human nature.

Personally I've been helped by the past four years of appreciation in the markets, but there's no way to know what market conditions will do once you ER.

I like the deduct-a-percent-of-this-year's-portfolio value approach to SWR, since that allows our spending to rise along with portfolio performance. If I had to lock down my real living expenses at the beginning of ER, I would no doubt want to have kept working longer, too. I think that approach is now shown to be unecessary, and not the best for long term retirees.

In general, real wages increase 1% a year historically, and human nature seems to want living standards to drift up over time, too. Long term ER planning needs to at least be aware of that. Obviously at some point (around the time of the senior-citizen diapers, I guess) that formula stars to drift back down again.
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