Join Early Retirement Today
View Poll Results: When $ will you/did you retire?
I accepted a reduction in living expenses to retire as soon as I could. 55 34.81%
I waited until I could match my pre-retirement living expenses. 86 54.43%
I worked as long I could to increase my retirement living expenses or security. 17 10.76%
Voters: 158. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Old 10-03-2009, 11:11 PM   #61
Thinks s/he gets paid by the post
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 2,403
Somewhere between what I have now if I choose the "sell the house and become a nomad in a teardrop trailer" approach and about $750K if I choose the "replace what I'm spending now" approach.

2Cor521
__________________

__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 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!

Old 10-04-2009, 11:44 AM   #62
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,018
Quote:
Originally Posted by calmloki
"Physician, heal thyself" - Don't you pretty much have that big bugaboo medical care that scares the rest of us kind of doubly wrapped up, being Canadian and all?
Because
(a) I don't believe publicly funded healthcare is sustainable at its present level
(b) What if I move?
(c) I've read Otar
(d) I might spend more than I do now if I have more free time
(e) I don't want to be always looking over my shoulder.

Quote:
Originally Posted by Moemg
Since you are only going for 2% if you need someone to leave all the excess to I'd be glad to oblige .
Heh heh!
Actually most of it will be going to my charitable foundation. That is, if I don't die broke!
__________________

__________________
Meadbh is offline   Reply With Quote
Old 10-04-2009, 12:51 PM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by Meadbh
That is, if I don't die broke!
Die broke...That's mah plan!
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 10-04-2009, 05:40 PM   #64
Recycles dryer sheets
heyduke's Avatar
 
Join Date: Aug 2009
Posts: 348
Quote:
Originally Posted by bbbamI View Post
Die broke...That's mah plan!
... and the only plan to have in my very humble opinion...
__________________
heyduke is offline   Reply With Quote
Old 10-04-2009, 06:10 PM   #65
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,977
Quote:
Originally Posted by bbbamI View Post
Die broke...That's mah plan!
I wish I knew how to accomplish that, with no kids that would be my plan too. Haven't figured out how to predict returns or my exact expiration date...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 10-04-2009, 06:19 PM   #66
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by Midpack View Post
I wish I knew how to accomplish that, with no kids that would be my plan too. Haven't figured out how to predict returns or my exact expiration date...
Well, I said it was my plan...I don't have it down to a science...yet. Perhaps I should check my tookus and see if there is an expiration date stamped there.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 10-04-2009, 06:33 PM   #67
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
Quote:
Originally Posted by bbbamI View Post
Die broke...That's mah plan!
That used to be my plan, also. My new plan is to die with hundreds of thousands of dollars in uncollateralized debt.
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 10-04-2009, 06:46 PM   #68
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,250
As REW says, "numbers is hard".

I'm hoping to be at around a 2.5% SWR with a 125k withdrawl. If that does not pan out, I'll be satisfied with up to a 3% SWR to get the same withdrawl. So, somewhere between 4.2M and 5M. In reality, I have no idea what we will need, since we live in Tokyo now and will be retiring to California. We know the property taxes and insurance part, but still not much of a clue on the health insurance part.

No pension, no health here, so going a little heavy on the port, just to make sure it lasts. By my calculations the 125k is very generous and we could make do with much less, but once I pull the plug, I don't want to have to go back to work to fund the hobbies. If I go back to work when the time comes, then it will be because I want to, it will be a low-stress job, and most likely one that I can choose when to work and when not to, or it will be a seat on a Board or two. If I don't want to go back to work then we will just figure out what expenses to weed out and live on what we have.

R
__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 10-04-2009, 07:51 PM   #69
Full time employment: Posting here.
friar1610's Avatar
 
Join Date: Jun 2002
Posts: 821
Quote:
Originally Posted by kumquat View Post
Being frugal with cars won't cut it. One of my friends is still working at 69. He drives a 1959 MGA that he bought new in (surprisingly) 1959. Financially, two divorces are much worse, ask him.

You misunderstand. Being frugal with cars is but a small part of why, unlike your friend who works at 69, I have not done so since 58. Fortunately, no divorces in my resume (which, I acknowledge, can be costly.) If car frugality had been my only ER strategy, I would still be working (and driving.)
__________________
friar1610
friar1610 is online now   Reply With Quote
Old 10-05-2009, 12:19 PM   #70
Recycles dryer sheets
WB52's Avatar
 
Join Date: Sep 2008
Posts: 169
DW and I are both 49 this year with 3 kids (one in college, 2 at home). Excluding their college expenses, we need to accumulate $1.7m to FIRE with +23% higher net annual spending than current (we want to live it up and also have a buffer). We are 79.4% FI as of today.
I think about the potential rebound of the S&P 500 every day. I don't know how long it will take to reach that goal. Also, I have a milde case of one-more-year syndrome. However, we are both targeting 2012 for our Independance and Freedome celebration! In the meanwhile, I take encouragement from success stories on this blog. Thanks.
__________________
WB52 is offline   Reply With Quote
Almost there - or not
Old 10-05-2009, 06:47 PM   #71
Full time employment: Posting here.
misanman's Avatar
 
Join Date: Apr 2008
Posts: 536
Almost there - or not

Door #3 for me. Could probably swing retirement now at an income somewhere between $70K and $80K/year and no debt, but job is good and I tend to be a "safe sider".

Of course, my hand could be forced if my employer decides they don't need my services any more. It does feel pretty good to know we'd likely be okay if that happens.
__________________
"The best thing about the future is that it happens one day at a time." -- A. Lincoln
misanman is offline   Reply With Quote
Old 10-09-2009, 07:21 AM   #72
Thinks s/he gets paid by the post
Finance Dave's Avatar
 
Join Date: Mar 2007
Posts: 1,046
$1.8M (hope to FIRE in 4-5 years) using 4-5% SWR, although the story is more complex. The $1.8M includes a lump-sum conversion of a cash balance pension plan we have....so in essence that assumes no pension since it's baked into that number already. We assume we'll get some SS, but only about 50% of what SS says since we're in the top decile of income earners and believe politicians will eventually come after our SS to some extent.

The big issue for us will be how to pay for health care between FIRE at age 52 and Medicare at 65. My MegaCorp drops us like a Britney Spears baby as soon as we FIRE. For now we've just built in about $6,000 a year for the pair of us in health care premiums into the $1.8M above....but may have to get actual quotes once we're closer to FIRE.
__________________
Finance Dave is offline   Reply With Quote
Old 10-09-2009, 12:53 PM   #73
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
Actually none of the 3 choices fit. We have no debt, no mortgage, substantial savings, megacorp insurance and retirement benefits, and pensions. I was burned out and decided (after a lot of hand wringing) to ER. My hubby is still working, loves his job, and likely won't ER for another 5 or 6 years.
__________________
SarahW is offline   Reply With Quote
Old 10-09-2009, 04:53 PM   #74
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 1,012
Quote:
Originally Posted by Midpack View Post
I wish I knew how to accomplish that, with no kids that would be my plan too. Haven't figured out how to predict returns or my exact expiration date...
awww that is simple, take your entire net worth and buy a COLAed SPIA. that lets the insurance do the "predicting".
__________________
jdw_fire is offline   Reply With Quote
Old 10-09-2009, 07:18 PM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,977
Quote:
Originally Posted by jdw_fire View Post
awww that is simple, take your entire net worth and buy a COLAed SPIA. that lets the insurance do the "predicting".
True enough. If it weren't for the (low) but real risk of failure, I might do just that...
__________________

__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack 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
Retire later, retire happier JustCurious Life after FIRE 20 09-17-2007 08:56 AM
Hello, all... Soon to retire Puzzley Hi, I am... 11 09-10-2007 08:28 PM
Retire or Not Retire - Everyone has a choice! huutrinon Hi, I am... 1 05-04-2007 04:34 PM
September 19, a good day to retire, if I were to retire, but I am not Martha Other topics 26 09-20-2006 11:59 AM
retire at 55 scubamonkey Young Dreamers 2 02-21-2006 09:29 AM

 

 
All times are GMT -6. The time now is 09:36 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.