Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 06-08-2015, 11:52 AM   #41
Dryer sheet wannabe
Patagonia's Avatar
 
Join Date: Jan 2012
Posts: 23
Congrats! Glad you worked through the fear. Proud of you!
__________________

__________________
Patagonia 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 06-08-2015, 11:59 AM   #42
Confused about dryer sheets
 
Join Date: Feb 2012
Location: Atlanta
Posts: 9
My initial reaction was to say that I am okay with the money. But in the back of my mind, I guess there is still some degree of fear. Our spending has remained fairly constant from year to year.

When you look at the budget, you will not see a line item for medical max out-of-pocket. It is not there because it did not seem reasonable to me to budget for spending the max every year. So instead we have a pot of money set aside ($300K). Also, the "housing item replacement" amount is calculated based on the expected life for all the major/minor systems/appliances in the home and then I figured the annual amount needed to be set aside to fund their ongoing replacement costs. Taxes are based on the assumption that 1/2 of the money used is non-taxable. Once the car dies, we will be a one vehicle family.

We have an austerity version of the budget which brings the total down to $45K. We also have no qualms about taking part time work if we want something that we have not budgeted for.

BUDGET ->

Auto
Insurance - Truck $1,000.00
Insurance - Car $600.00
Auto Registration $325.00
Fuel (4$ / gal, 6K @ 15mpg) $1,600.00
Service $1,800.00
Replacement $1,800.00 Truck Only
Total $7,125.00

Boat
Club Dues $800.00
Insurance - Motor Boat $300.00
Insurance - Sailboat $300.00
Maintenance - Dock $500.00
Maintenance - Sail $500.00
Maintenance - Motorboat $250.00
Total $2,650.00

Household
Insurance $1,040.00
Umbrella Insurance $800.00
Property Tax $5,000.00
Home Annual Maintenace $1,230.00
Home Item Replacement $3,800.00
Home Updates $1,200.00
Total $13,070.00

Food
Dining $1,200.00
Groceries $7,200.00
Total $8,400.00

Utilities
Gas & Electric $2,400.00
Internet $480.00
Cell Phone $200.00
Termites $240.00
Water $240.00
Total $3,560.00

Personal Spending
His $4,800.00
Hers $4,800.00
Ours $4,800.00
Vacation $4,800.00
Total $19,200.00

Pet
Pet $4,000.00
Total $4,000.00

Grand Total w/o Healthcare $58,005.00

Health Insurance
Health Insurance $10,000.00

Before Taxes Grand Total $68,005.00

Est Fed Tax @ 5 Percent $3,400.25

Est State Tax @ 3 Percent $2,142.16

OVERALL TOTAL $73,547.41 (less than 3% of portfolio)
__________________

__________________
sadsak is offline   Reply With Quote
Old 06-08-2015, 04:09 PM   #43
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 1,579
Congratulations for making the decision and doing it! Given your less than 3% withdrawal, I think most here would say you are presumably good shape.
__________________
After Monday & Tuesday even the calendar says, W-T-F...

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/16 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is online now   Reply With Quote
Old 06-08-2015, 05:22 PM   #44
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Congratulations! As your expense equal less than 3% of your PF, and you're willing to take on part-time work if things change, you're in good shape.
__________________
Options is offline   Reply With Quote
Old 06-08-2015, 05:51 PM   #45
Moderator
MBAustin's Avatar
 
Join Date: Jul 2010
Posts: 4,150
Congratulations!! Now start that 35-day countdown - make that 34, it's after 5pm!
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
MBAustin is offline   Reply With Quote
Old 06-08-2015, 05:53 PM   #46
Thinks s/he gets paid by the post
Ally's Avatar
 
Join Date: Feb 2011
Posts: 1,189
It looks like you will be fine. More than fine!


Sent from my iPad using Early Retirement Forum
__________________
Ally is offline   Reply With Quote
Old 06-08-2015, 06:05 PM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,410
Quote:
Originally Posted by Ally View Post
It looks like you will be fine. More than fine!
+1 especially since you don't have SS included. What you been waiting for?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 06-10-2015, 12:25 AM   #48
Dryer sheet wannabe
USA's Avatar
 
Join Date: May 2015
Posts: 22
I gave notice 2 weeks ago. It finally came down to me asking myself what my roadblocks were. I had 2. Once I was upfront with myself I was able to move forward. As for anxiety, I think that would be in line for FIRE. I'm looking at a future that I didn't spend years dreaming of, but I spent years financially preparing for. It's definite change of mindset & at times mind boggling!


Sent from my iPhone using Early Retirement Forum
__________________

__________________
USA 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
My stress/job/anxiety story Tracker FIRE and Money 15 05-30-2009 03:00 PM
Anxiety Bimmerbill Health and Early Retirement 38 02-17-2009 08:38 PM
earning or losing money -- which gives you more anxiety? lazygood4nothinbum FIRE and Money 20 12-26-2008 10:10 AM
Uh oh---anxiety after one week of FIRED! tangomonster Life after FIRE 68 08-17-2006 10:31 PM
Irrational Anxiety SteveR FIRE and Money 5 07-25-2005 07:00 PM

 

 
All times are GMT -6. The time now is 04:05 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.