Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 10-10-2018, 12:45 PM   #141
Full time employment: Posting here.
dtbach's Avatar
 
Join Date: Apr 2011
Location: Madison
Posts: 926
Quote:
Originally Posted by NW-Bound View Post
If the market keeps going down like it has been doing for the last 2 weeks, my WR will increase without me having to try. Nice!

Lets hope its just a correction
__________________

__________________
Wild Bill shoulda taken more out of his IRA when he could have. . . .
dtbach 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 10-16-2018, 05:16 PM   #142
Full time employment: Posting here.
HNL Bill's Avatar
 
Join Date: Dec 2017
Location: Honolulu
Posts: 695
If I eventually find that my assets have increased so much that we'll never be at risk of running out, while spending more than 4-5%, I'll consider upping the spending.

Once travel is over, it will be much harder. I'll probably buy some new Klipsch speakers, a sports car, and maybe a new house. After that, the only way to spend a lot extra would be through chartible giving. I don't see the need to buy jewelry in our 80s.
__________________

HNL Bill is offline   Reply With Quote
Old 10-16-2018, 05:30 PM   #143
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 1,365
Quote:
Originally Posted by RobbieB View Post
Some want to leave a legacy me thinks.

I don't have any children, so I'm gonna Blow That Dough!
Not only am I leaving a legacy but I'm self funding assisted living or home health rather than being warehoused should it come to that so I'm taking a 0.5% WR.
gayl is offline   Reply With Quote
Old 10-16-2018, 05:35 PM   #144
Recycles dryer sheets
davebarnes's Avatar
 
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 398
1. Fear of the future.
2. Brain washing by parents who lived thru the Great Depression.
3. Want to leave million$ to our daughter.
__________________
Dave Barnes
Old (70.07) Fart Nerd
AA 78/15/7, WR <1.0%, still working 2ish hrs/day
davebarnes is online now   Reply With Quote
Old 10-16-2018, 05:54 PM   #145
Confused about dryer sheets
 
Join Date: Jan 2012
Posts: 5
Every time I see a post on this thread like:
"I have a 2% withdrawal rate but I'm happy and don't feel the need to increase it. *shrug*",

I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"

There's obviously nothing you can do now if you're already retired and have too large of a nest egg, but the whole point of a larger SWR is to allow you to retire earlier than you otherwise could.
hudibras is offline   Reply With Quote
Old 10-16-2018, 05:56 PM   #146
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 2,276
Quote:
Originally Posted by hudibras View Post
Every time I see a post on this thread like:
"I have a 2% withdrawal rate but I'm happy and don't feel the need to increase it. *shrug*",

I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"

There's obviously nothing you can do now if you're already retired and have too large of a nest egg, but the whole point of a larger SWR is to allow you to retire earlier than you otherwise could.
Nice 1st post.
__________________
TGIM
Dtail is online now   Reply With Quote
Old 10-16-2018, 06:01 PM   #147
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 18,628
Quote:
Originally Posted by hudibras View Post
I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"
I read it as being aware that very often things don't turn out anywhere near the way one predicted so they wisely leave a big fat cushion in case we get an event like October 1929 again.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 10-16-2018, 06:01 PM   #148
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 10,884
Quote:
Originally Posted by hudibras View Post
Every time I see a post on this thread like:
"I have a 2% withdrawal rate but I'm happy and don't feel the need to increase it. *shrug*",

I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"

There's obviously nothing you can do now if you're already retired and have too large of a nest egg, but the whole point of a larger SWR is to allow you to retire earlier than you otherwise could.
It is not that simple. I did not expect my employer to pay out my pension and was not all that sure about Social Security being around. Ditto for my DW, so we saved and invested to make sure we'd be OK if others' promises were not met. And unlike you, we are unable to predict the market. In the end we lucked out and don't need to take 4%, but it is nice knowing we can.

*shrug*
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 10-16-2018, 06:04 PM   #149
Full time employment: Posting here.
HNL Bill's Avatar
 
Join Date: Dec 2017
Location: Honolulu
Posts: 695
Quote:
Originally Posted by gayl View Post
...I'm self funding assisted living or home health rather than being warehoused should it come to that so I'm taking a 0.5% WR.
I hope you will have an advocate who can help you find qualified home health care providers and help you with finances when the time comes.

My mom resisted, and fired two home health care workers I hired for her. She said she didn't need any help.

In the rural California town where she lived, it was tough to find providers, especially, when it gets to 24 hr/day need. At $18-24/hr, that could work out to $210K/yr. I really hope you don't need it!
HNL Bill is offline   Reply With Quote
Old 10-16-2018, 06:42 PM   #150
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 20,152
Quote:
Originally Posted by hudibras View Post
Every time I see a post on this thread like:
"I have a 2% withdrawal rate but I'm happy and don't feel the need to increase it. *shrug*",

I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"

There's obviously nothing you can do now if you're already retired and have too large of a nest egg, but the whole point of a larger SWR is to allow you to retire earlier than you otherwise could.
The thing is, when you retire you don't know if you are going to have a run of good years or bad years. So most people pad a bit.

Then if you end up with a string of good years, your safe income from your retirement assets starts to exceeds your spending, and keeps growing. But when you retired you had to plan for the opposite to happen.

Me, I'm trying to put more money to good use while I'm living.... ramping up gradually.
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 10-16-2018, 06:48 PM   #151
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 22,256
Quote:
Originally Posted by audreyh1 View Post
The thing is, when you retire you don't know if you are going to have a run of good years or bad years. So most people pad a bit.

Then if you end up with a string of good years, your safe income from your retirement assets starts to exceeds your spending, and keeps growing. But when you retired you had to plan for the opposite to happen...
+1000

One plans for the worst case, not the best case.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 10-16-2018, 07:02 PM   #152
Confused about dryer sheets
 
Join Date: Jan 2012
Posts: 5
Quote:
Originally Posted by Walt34 View Post
I read it as being aware that very often things don't turn out anywhere near the way one predicted so they wisely leave a big fat cushion in case we get an event like October 1929 again.
If I had a nickel every time someone here said "Past performance is not indicative of future results" and then in the next breath said, "We're due for another crash like in 1929," I could increase my withdrawal rate even further...

Like I said, I doubt I'll change the mind of anyone here who's already retired; what's done is done. I just hope people understand there are tradeoffs (like working for more years than necessary) to trying to completely avoid the worst-case scenario, especially when any rational, real-life, worst-case scenario is not "freezing to death on a street corner trying to sell pencils" like in 1932 but rather "I was retired for 25 years but the market took a downturn and now I work a minimum-wage job at age 70 to supplement my social security. But at least I got to spend time with my children when they were growing up instead of punching a clock..."
hudibras is offline   Reply With Quote
Old 10-16-2018, 07:02 PM   #153
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 2,284
Quote:
Originally Posted by NW-Bound View Post
+1000

One plans for the worst case, not the best case.
Here is a "pop quiz" I use in my adult ed investing class:
You’re 75 years old, healthy, and reviewing your financial situation. Which would you prefer?

A. You find that you’re running out of money.

B. You find that you’ve saved more money than you really need.
The point being, of course, that the consequences of a mistake on the low side are far, far, more negative than the consequences of an overshoot. We overshot.
OldShooter is offline   Reply With Quote
Old 10-16-2018, 07:09 PM   #154
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 2,284
Quote:
Originally Posted by hudibras View Post
... Like I said, I doubt I'll change the mind of anyone here ..."
And, obviously, no one here is going to change your mind either.
OldShooter is offline   Reply With Quote
Old 10-16-2018, 07:10 PM   #155
Confused about dryer sheets
 
Join Date: Jan 2012
Posts: 5
Quote:
Originally Posted by OldShooter View Post
And, obviously, no one here is going to change your mind either.
Definitely a true statement...
hudibras is offline   Reply With Quote
Old 10-16-2018, 07:12 PM   #156
Full time employment: Posting here.
 
Join Date: Sep 2002
Posts: 616
Quote:
Originally Posted by hudibras View Post

I read it as:
"I didn't plan out my retirement spending well and ended up working for 8 years longer than I needed to.*shrug*"

.

Yep I was 3yrs 6 months longer that my first getting off point. But at 44 I gutted it out lol.
JDARNELL is online now   Reply With Quote
Old 10-16-2018, 07:16 PM   #157
Confused about dryer sheets
 
Join Date: Jan 2012
Posts: 5
Quote:
Originally Posted by JDARNELL View Post
Yep I was 3yrs 6 months longer that my first getting off point. But at 44 I gutted it out lol.
Believe me, I know. The annual "Honey, look at this spreadsheet. If I work one more year, we can..." struggle is real.
hudibras is offline   Reply With Quote
Old 10-16-2018, 07:22 PM   #158
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 20,152
Quote:
Originally Posted by JDARNELL View Post
Yep I was 3yrs 6 months longer that my first getting off point. But at 44 I gutted it out lol.
I don't feel too bad about retiring at 39 even though I suppose I possibly could have retired a couple of years earlier.......

But how did I know that our net worth would beat inflation over the past 19 years? I didn't. And we lived through some pretty horrific market volatility. Gosh - 9-10 years after retiring our net worth had dropped all the way to where we started - and quite a bit lower when inflation adjusted. Who knows - it could have kept dropping for several more years, and still took several years to catch back up to inflation.

So - since retirement is offering us a larger income than planned (knock on wood), we are trying to take good advantage of it.
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 10-16-2018, 07:23 PM   #159
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 10,884
Quote:
Originally Posted by hudibras View Post
Definitely a true statement...
I doubt you'll be around very long, but I'm gonna put you on my ignore list, just in case.
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 10-16-2018, 07:26 PM   #160
Confused about dryer sheets
 
Join Date: Jan 2012
Posts: 5
Quote:
Originally Posted by travelover View Post
I doubt you'll be around very long, but I'm gonna put you on my ignore list, just in case.
Long-time lurker, first-time poster, but it's been nice talking with you!
__________________

hudibras 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
Italy or Two Smaller Trips tnj2tnj2 Travel Information 30 03-03-2013 12:31 PM
Best way to move the D3 to smaller, more fuel efficient cars? Midpack Other topics 41 04-07-2009 10:52 PM
Can your SWR be above 4% if you have more than you need? JustCurious FIRE and Money 25 07-25-2007 05:49 PM
Smaller housing to become more popular? Orchidflower Life after FIRE 32 06-16-2007 04:28 AM

» Quick Links

 
All times are GMT -6. The time now is 12:12 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.