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Old 06-25-2014, 04:09 PM   #41
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I like it! Still a simple formula to understand but it gets to the heart of the " money x years left" sweet spot.

It would be nice to not have absolute values ($750k and 70 years), as these are fairly arbitrary and everyone will have their own opinion about what numbers are "correct."
I am glad you like it, though you had the original idea.

I do not know how one can get around some subjective values in the criteria. People have different needs and expectations.
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Old 06-25-2014, 04:47 PM   #42
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Would love to post something intelligent, but instead of looking forward, find it easier to count "back" instead... ie. it has to last me 8 more years... seven more years... six more years, etc.
Much easier!
Me, being of not near as sound of a body as my younger self was, and state of mind that some might consider questionable simply came to grips with the fact that the equation could not be solved, given that assigning a numerical value to remaining length of life span is just an educated guess at best. What I do have some control over is the quality of remaining life span, however long that might be. And I have chosen to improve the quality of my life sooner rather than later - by ER while using assumed values for length of remaining life span (IRS actuarial tables) for firecalc & etc. calculations.

Who has the most, or the least numerical indicator is meaningless. Being satisfied you have done the best with what cards life has dealt you to achieve an acceptable quality of life is everything.
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Old 06-28-2014, 12:09 PM   #43
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Who around these parts had the guts to retire on the least amount of money? Would love to hear yhose stories.

While saving up a couple mill and retiring is impressive, i think the person who maximizes time over money wins. Thats a gamble of course as you try to cut it razor thin to being a pauper.
Here's a previous version of this thread from 2006, including the winning post:
Least amount someone has ER'd with

And from 2004:
Retire on $500
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Old 06-28-2014, 12:22 PM   #44
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Sounds good on paper. But until people expire, there is no telling who the winners are.

How maccabre


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Old 06-28-2014, 12:35 PM   #45
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You first, Amigo.
+1

This thread was started 5 days ago and the OP has only just found the time to post again - and only very briefly.

I don't know, call me weird, or just plain old grumpy, but I'd feel a lot more inclined to share information with someone who has demonstrated willingness to share a little about himself/herself first. Judging by most of the other posts in this thread, a lot of others don't feel this way.

Gotta love the internet
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Old 06-28-2014, 12:47 PM   #46
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+1



This thread was started 5 days ago and the OP has only just found the time to post again - and only very briefly.



I don't know, call me weird, or just plain old grumpy, but I'd feel a lot more inclined to share information with someone who has demonstrated willingness to share a little about himself/herself first. Judging by most of the other posts in this thread, a lot of others don't feel this way.



Gotta love the internet

You may find my information in my first post, somewhere in the hi i am section.


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Old 06-28-2014, 12:52 PM   #47
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Then I guess I'm just a grumpy old fart.

It's OK - I can live with that.
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Old 06-28-2014, 01:11 PM   #48
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I've been called worse, no worries. Honestly one of my reasons to obsess on retirement is that i have an grumpy ( ok, i'm an ignorant asshole often) disposition. At retirement i really want the freedom to spend life improving myself, helping others. Im not a give away money type, im a roll up my sleeves and teach a man to fish type. But working endlessly means i help no one but myself and, arguably, my wife.


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Old 06-28-2014, 01:19 PM   #49
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How macabre
This idea of maximizing time over money is similar to the concept of paying the undertaker with your last dollar (a classic around here).

The time component in your equation is directly related to life span. Since this is an unknown for all of us, there is no way to answer your question... until life span is finally revealed. Therefore, the prudent way to plan for the future is to prepare for a long life span, which usually means a suboptimal use of time over money.
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Old 06-30-2014, 01:05 AM   #50
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Who around these parts had the guts to retire on the least amount of money? Would love to hear yhose stories.

While saving up a couple mill and retiring is impressive, i think the person who maximizes time over money wins. Thats a gamble of course as you try to cut it razor thin to being a pauper.


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I'm not retired yet but I have read many examples of people who "retired" on various low amounts. Some travel around in third world countries living in a tent, youth hostels and other cheap accommodation. I've read about others who continue to live in the US by lowering their cost of living. Some built their own house (wood cabins, yurts, tiny houses, houses made of cargo containers, etc). Some chose to live out of their vehicle i.e. camper, van ,car, boat, etc. Some chose to live in a commune and others moved to a trailer park.

A huge percentage of the world population live on just $1 a day. So if you are willing to live like 2/3 of the world population (or whatever it is) or for that matter live like 99% of all previous generations, then I'd say a few thousand is probably plenty to retire on.
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Old 06-30-2014, 02:17 AM   #51
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I'm not retired yet but I have read many examples of people who "retired" on various low amounts. Some travel around in third world countries living in a tent, youth hostels and other cheap accommodation. I've read about others who continue to live in the US by lowering their cost of living. Some built their own house (wood cabins, yurts, tiny houses, houses made of cargo containers, etc). Some chose to live out of their vehicle i.e. camper, van ,car, boat, etc. Some chose to live in a commune and others moved to a trailer park.

A huge percentage of the world population live on just $1 a day. So if you are willing to live like 2/3 of the world population (or whatever it is) or for that matter live like 99% of all previous generations, then I'd say a few thousand is probably plenty to retire on.
Even living middle class in the US in the 1950s involved less expenses in many categories - 259 avg sq ft of housing per person, one car, one bathroom, one TV with an antenna, wash hung out to dry, no cell phone, no cable, no Internet and no PCs.
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Old 06-30-2014, 06:53 AM   #52
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A huge percentage of the world population live on just $1 a day. So if you are willing to live like 2/3 of the world population (or whatever it is) or for that matter live like 99% of all previous generations, then I'd say a few thousand is probably plenty to retire on.
Since you are asking: About 20% live on $1.25 a day or less. It's called extreme poverty for a reason though.

Extreme poverty - Wikipedia, the free encyclopedia

The median income per capita (PPP) in the world is $13.000 per year.
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Old 06-30-2014, 08:46 AM   #53
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I'll bite.

Married couple, planning to sell house next year and live in custom built RV, boondocking and possibly renting a small apartment for part of year.

Portfolio projected to be $1,400,000 after sale of house. Expenses will be kept under $42,000 for a SWR of 3%. Age 45, 46 at time of ER. SS to be taken at 70.

Probably we will live modest for 9 months out of the year ($3k per month) and then live it up for 3 months (put RV in storage and fly to Costa Rica spending $5k per month).
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Old 06-30-2014, 11:50 AM   #54
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Here's a previous version of this thread from 2006, including the winning post:
Least amount someone has ER'd with

And from 2004:
Retire on $500
I loved the baguette maneuver! Thanks for the resurrection!
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Old 06-30-2014, 01:18 PM   #55
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I like the optimism in the 2006 thread too.

One person was saying 4% SWR was too low and 6% is more realistic.

2006.
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Old 07-03-2014, 08:17 AM   #56
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I'm 36 and retired last year with roughly $400k in a 3 fund index portfolio, 110k in cash, and another 25k in a business investment that yields decent returns. I'm obviously not drawing SS# or anything else and the decision to finally throw in the towel was due to prolonged unemployment.

I didn't see a point in even trying to find a job again. It wasn't easy coming to my decision but it's been in the works for a long time now. Unfortunately, this "new" economy punishes the 20-30 somethings the hardest but I consider myself very lucky since I am debt free and have some money.

I live in Asia now and am able to enjoy quite a good lifestyle. I'll probably end up teaching english for awhile for fun and going that route.

If the market drops in the next year or two I plan on going all in with the rest of my cash on the market.
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Old 07-03-2014, 09:14 AM   #57
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I consider myself semi-retired at 41. No full time job for me anymore thanks but I'd consider part time if it's something I'd enjoy. I'm single with a bit over 1mm split evenly between iras and taxable. I don't plan on hitting the iras until 59 1/2. I'm a minimalist so I don't spend much.
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Old 07-03-2014, 09:48 AM   #58
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Not sure if I'd say I'll retire with 'the least'. I'll retire effective 31 Dec 2014 at 40 years old. I will have a cola protected pension, so that's worth a ton to me. Also have about 10k a year in dividend income. House has no mortgage. So for me, my time is worth much more than how ever much money I can earn through wo#rk.

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Old 07-03-2014, 10:54 AM   #59
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I'm 36 and retired last year with roughly $400k in a 3 fund index portfolio, 110k in cash, and another 25k in a business investment that yields decent returns. I'm obviously not drawing SS# or anything else and the decision to finally throw in the towel was due to prolonged unemployment.

I didn't see a point in even trying to find a job again. It wasn't easy coming to my decision but it's been in the works for a long time now. Unfortunately, this "new" economy punishes the 20-30 somethings the hardest but I consider myself very lucky since I am debt free and have some money.

I live in Asia now and am able to enjoy quite a good lifestyle. I'll probably end up teaching english for awhile for fun and going that route.

If the market drops in the next year or two I plan on going all in with the rest of my cash on the market.
Good for you!

In the past few months I've heard the phrase, "Do what you want to do!" several times from older retired men. (Just this morning in fact from my daughter's dance coach's 80-something father. Sounds like you got helped in that direction by unemployment, which is often a blessing in disguise.

What type of work did you do pre-retirement?
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Old 07-03-2014, 11:11 AM   #60
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Good for you!

In the past few months I've heard the phrase, "Do what you want to do!" several times from older retired men. (Just this morning in fact from my daughter's dance coach's 80-something father. Sounds like you got helped in that direction by unemployment, which is often a blessing in disguise.
Now that i'm in the ER phase of my life I definitely have no regrets. I feel like i'm finally alive and honestly the best feeling was just getting rid of a lot of my material possessions before heading onto that plane. Not to sound corny, but there's something cathartic about it.

Quote:
What type of work did you do pre-retirement?
I worked in the tech industry where the hours were getting longer and the pay smaller as years go by. I was lucky to be pulling in a decent salary when I did.
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