Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Weighing in with one more method, better late than never. :)
Old 04-27-2013, 11:56 AM   #21
Moderator Emeritus
W2R's Avatar
Join Date: Jan 2007
Location: New Orleans
Posts: 40,159
Weighing in with one more method, better late than never. :)

During the first week of every January, I withdraw the total that I plan to spend for that whole year, minus what is left over from the previous year. By "withdraw", I mean that I move this from Vanguard to my bricks-n-mortar bank. This method has two advantages for me:

1. This way I am sure I will not spend a penny more than planned, since this is the only withdrawal for the year; and,
2. This requires almost no work on my part.

This is not the brilliant investor's choice, most likely, but it is a method that seems tailor-made for someone like me. What I mean by that is that I'd probably make a little more, on average, if I withdrew more frequently. However, the simplicity of this (to me, foolproof) method is worth it to me.

I put the entire withdrawal into my savings account at my local bricks-n-mortar bank, and then move money to my checking account throughout the year. I don't spend anything until it hits my checking account so I don't spend too far ahead, this way.

5/17/2018: Retired a second time, this time from my volunteer Admin duties. After 10 years of being on the team, and 40,000+ posts, the time just seemed right. It has been such fun to work with all of our Mods and Admins and I plan to stick around as a regular member.
W2R is online now   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 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 04-27-2013, 12:06 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,971
Originally Posted by seraphim View Post
totally anal?

Give it to me straight - I can take it lol.

Do you want to re-word that?

I've been churning that withdrawal puzzle myself but only because RMD time is marching toward me and I gotta do it. I'm leaning towards taking my distributions on a quarterly basis but I can not tell you exactly why.

Stay tuned for a change to that idea.

Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 04-28-2013, 06:55 AM   #23
Thinks s/he gets paid by the post
seraphim's Avatar
Join Date: Mar 2012
Posts: 1,492
A bit of a guessing game, I suppose, depending on how the market performs at any given time.

Reminds me of when I set up RMDs for my wife's inherited IRA: the rep setting up the account asked me when we wanted to take our distributions.

Answer: when the share values are at their highest... Duh.

He got a kick out of that.

I settled for April 1st

"Growing old is no excuse for growing up."
seraphim is offline   Reply With Quote

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


All times are GMT -6. The time now is 08:41 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.