What is enough

[unclemick]

OR - after a decade or so of worrying in ER - we could bestoe you with an honorary 'curmudgeonette' degree. Almost as good as a Masters in dryer sheet recyling.

[BigMoneyJim]

Great! Just as I was beginning to get comfortable that I would outlast my money (from another post) someone else comes along and echoes my underlying worry.

Your reasoning in another thread is that you like to travel and dine a lot and expect to do more as you get older. Think of it this way: If you're healthy enough to be active and travel, you'll be healthy enough to take a job if the worst happens. Heck, get a job as a travel agent with all your experience. If for whatever reason you travel less you won't need to spend as much and will have enough.

See? You got it made.

[gayl]

I stand by my observation that you perhaps enjoy worrying?! *Look on the bright side the world could blow up tomorrow and you'll have more money than you'll ever need.

Should'a stuck a wink in there. :P Nope you convinced me .. gotta get out of this saving habit. Calling for estimates on new carpeting tomorrow as it is 20 yrs old & I'm one of the lucky ones... I have a built in cola *

I hate to get personal, but am I the only one who wonders about this when they first retire?

If you're healthy enough to be active and travel, you'll be healthy enough to take a job if the worst happens.

Being retired can be addictive in the best way I'm still getting my new mindset but I'll avoid returning to work even if it means doing a negative equity on property. Besides as previously pointed out, early SSA is only 9 yrs away -- full SSA 14 yrs away. I'll make it ... on to reinventing myself

I hate to get personal, but am I the only one who wonders about this when they first retire?

No, I think it's perfectly normal. *I also think it's good to have a budget with plenty of fluff in it. Plenty of Travel, eating out etc. etc. That way, if the budget needs to be tightened you'll have something to cut.

If your budget is so lean that there is nothing to cut, I would tend to be more worried.

I agree with Cut_throat, i.e. perfectly normal to worry.
I have found that I worry less and less as time passes.
The proximity to SS benefits has a lot to do with this,
in my case. I can't imagine going back to work, other
than ramping up my small holding co. a bit.

John Galt

[riverrat]

Goin into retirement is a little scary. But I'm going to try to be a little bit like Alfred E. Newman

What? me worry?

I think smart people think to much. They consider all the possiblities, scenarios that could play out, the worst case scenarios etc. to the point they can't sleep at nite. I, know cause I've done it. But the time to do some of this is well before retirement to make sure you can make it ok. Then once you've made the decision to FIRE you must become Alfred E. Newman.

I wonder what personality type Alfred is.

[BigMoneyJim]

Then once you've made the decision to FIRE you must become Alfred E. Newman.

I wonder what personality type Alfred is.

Easy. Alfred is ENMN.

[BUM]

You always need SOMETHING to cut back on in tough times. If you don't have that you're probably not having any fun.

Remember this, "When the going gets tough; the tough cut back on the wife's beer."


BUM

[gayl]

So is anyone else laddering into drawing from retirement funds? Before you jump down my throat, I am drawing on my DBP plan now, have a 457 and IRA in reserve, as well as SSA in 9 yrs. Will take from 457 in 3 yrs, add in IRA in 6, then early SSA in 9. My only other option is to fully investigate this SWA thing and that seems like work.

bobbee25, you could ostensibly do the same thing to increase your comfort level with your pension, 401K, IRA, and Social Securty. Makes sense to me but I'm a newbie here

[unclemick]

Laddering into retirement - !thru a brilliantly executed well calculated plan! - heh heh not exactly. But with the benefit of 20-20 hindsight that's kinda what happened.

Consumed severance pay, saved cash, one year temp job for big $, cap gain I couldn't refuse (divorce sale of owner financed duplex), small defined pension at 55.

Except for pension at 55, a lot of things that weren't on my radar screen. Also practiced a 'barbell' strategy - core budget frugal plus splurges when the mood to travel, etc. Went 49-60 before you knew it and have the fun of figuring how to spend SS when it arrives. The only minor blips were a tornado in 95 which tore off the roof and we lived with friends for six weeks while I rebuilt the entire interior and rebuilt parts of the house due to Hurricanes in 98 and 02. And haven't really touched our IRA's yet. ? planned ladders and ? unplanned ladders - they both seem to work.

My experience is like unclemick's, i.e. 49 to 60
went by fast. Also, things in general went much better
than anticipated and now it is even easier. I too have
not touched the IRA and can see my SS benefits coming down the road. As in life its own self, most problems I worried
about never happened.

John Galt