What have you learned from this forum?

[Khan]

I've learned:

There are others who live comfortably on less than $30K/year.

There are others who are happy living alone.

This is a great place for advice on food and computers.

[cj]

That there are other people in the world who can live without credit card debt and buying a bunch of stuff that they don't need... that saving is often more satisfying than spending.

That the best part of FI is that you can RE or partially-RE or do whatever the heck you want to do... FI lets ME call the shots.

I love reading the posts on this forum. The people in here make more sense to me than 99% of the people I run into in person. So thanks, y'all!

CJ

[LOL!]

1. There are alot of poor hapless souls who hate their jobs.
2. Asset allocation uber alles.

[Slarty]

I've been reading from this site for maybe a year before I posted anything. I found that there isn't anybody that I know outside of this site who is knowledgeable or interested enough in ER that I can have these conversations with. I think it's just not something people feel can be part of their reality. But, I've been reading books on it for years and I needed to be beyond the books. This site goes beyond the books. Here's my Big 3.

1) Useful strategies and details about handling the withdrawal phase after I FIRE

2) Better understanding of healthcare / insurance options after FIRE

3) Great creative and practical ideas for how to enhance a FIRE lifestyle while keeping expenses to a minimum

[maddythebeagle]

1. How to put together a plan....
2. It is possible and not that hard....
3. That there are folks that rinse out their ziplock bags and collect dryer lint :P

[Donzo]

There have been many "light bulb" moments while reading here. But three basics.

!) Allocate your nest egg for growth and safety. Buckets or not.

2) Don't try to time the market. 9 out of 10 times...you lose.

3) Don't worry about a market downturn - expect it - ride it out - see #1.

Learned/learning alot w/ some good laughs along the way.

[bosco]

various withdrawal schemes
ESR Bob's book, and his "rational" asset allocation
compared to some folks on this forum, my ego isn't overblown after all!

[sheboyganite]

!) That there are a lot of like-minded folk out there, which makes me feel like less of a freak(!)

2) That replacing expenses in retirement is a lot different from replacing income...easier mostly.

3) Investment expenses are important, moved what I could to Vanguard and it has been good there.

4) That those online calculators are pretty worthless, except for FireCalc, which was probably my first Aha! moment when I saw that this was going to work.

I know that's not three, but hey, I'm a librarian, a words person, not a numbers person (which is why #4 was so important)

Sheboyganite

[albundyz]

1. how lucky I am to have an old fashioned pension plan
2. FIRE is possible
3. that there are people in the world who view money like I do.

I am surrounded by my family who are mostly not financially responsible. They ignore my advice. They think I'm nuts for driving a 7 year old car. They think I'm nuts for turning off the lights in the kitchen when no one is there. They think I'm nuts to have no debt. (I do this so I can retire early!) I come to this website and read the messages and realize that I there are a lot of people who view money like I do.....thanks for all the ideas!

[scrinch]

1. Income taxes after retirement will likely be much lower than I had previously considered.

2. It is nonsense to calculate needed after-retirement income based on pre-retirement income.

3. A 1% financial planning fee during the accumulation phase is a nuisance that can significantly set back retirement. But in the post-retirement phase it is 25% of your income!

4. If you try to cook omelets by boiling the eggs in a plastic bag, don't let the part of the bag that is out of the water touch the side of the pot. If you do, the bag might melt, and when later submerged, might let the egg goop out into the water, creating a large pot of unseasoned egg-drop soup!

[calmloki]

This is a great thread! For the lazy among us the low hanging fruit is sweet. And, for instance, searching for "retire at the pie shop" is not a search term that leaps readily to mind!

[JohnEyles]

I've learned that bonds are a lot more complicated than stock. Stock is
kinda a no-brainer: just buy a decent diversified portfolio of Vanguard
index funds and be done with it. Bonds on the other hand ... So I hope
I've learned something about bonds. DEFINITELY have learned about some
good specific fixed-income investments: Penfed 6.25% CDs, and ISM/OSM
inflation-linked bonds.

[haha]

Quote:

Originally Posted by RustyShackleford I've learned that bonds are a lot more complicated than stock. Stock is kinda a no-brainer: just buy a decent diversified portfolio of Vanguard index funds and be done with it.

This is only true on the theory of "What you don't know can't hurt you."

Ha

[audreyh1]

I learned that I WAS NOT ALONE!

And I am profoundly grateful for that!

Audrey

[Empty Pockets]

Don't brag about your Financial Advisor, Annuity or VUL...

[tryan]

!) FIRECLAC

2) Dryer sheets can be recycled!

3) Meth can be made in the tub.

[Poundkey]

I've realized that being frugal ("tight" as my friends and family call it) isn't as abnormal as they would have me think.

I've learned that there are some VERY sharp folks here. I wish I knew as much as they do, and always look forward to their thoughts.

I learned that job stress was responsible for most (if not all) of my health problems. I'm feeling MUCH better now.

[Donzo]

Quote:

Originally Posted by OkieTexan Three Nuggets? Well....here goes: 1. Most of my fears about ER were unfounded. 2. ER doesn't have to be permanent, temporary, good or bad. It is an adventure, one day at a time! 3. ER isn't going to be fun if I worry about $$ too much. Luckily, I don't have to.

Okie, I really like this thought(#2) A day by day adventure....to be enjoyed-really sums it up! It is all about attitude 8)

[d]

Quote:

I learned that I WAS NOT ALONE! And I am profoundly grateful for that!

ditto

[Caroline]

I've learned that you can have a plan, work your plan, mind your own business, and WHAM! A hurricane blows your house away, or cancer takes your spouse, or you get MS and have to hang on for the healthcare, or you get cancer yourself a month before you retire...

Life isn't fair, and it isn't fair that it isn't fair.

But.

I've also learned that there are folks who've never even met you outside this chat room who actually CARE when this stuff happens to you. This, I think, is amazing and wonderful.

Finally, I've learned (though I still haven't quite processed it), that there are folks who have $7M who don't think they have enough.

If I had to sum it ALL up into one meta-lesson, I'd have to agree with the likes of OkieTexan and Donzo -- Carpe Diem.