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View Poll Results: Retirees only, which best describes how you feel about your retirement income?
I have a lot more than I can spend. I'll be leaving a lot on the table when I croak, or maybe I'll become a philanthropist. 68 29.82%
I have a little more than I can spend, which is a nice security blanket. 109 47.81%
I have just about exactly what I need, no more, no less. 40 17.54%
I have a little less than I'd prefer to spend, so I might want to do something like kick up the LBYM and/or work part time for a while. 7 3.07%
I don't have enough. I need to go back to work, or marry well, or take up bank robbery as a hobby. 4 1.75%
Voters: 228. You may not vote on this poll

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Old 05-10-2016, 10:50 AM   #41
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Midpack - thanks for the correction of SWR to WR. I've often wanted to point out the difference, but didn't want to seem pedantic. However, it is (to me at least) an important distinction. There is a definite difference between a Safe Withdrawal Rate (the WR that is estimated to not lead to portfolio failure), and a WR, which can be any old figure you decide on. You can have a WR of 25%, but it sure as heck ain't a SWR!
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Old 05-10-2016, 10:56 AM   #42
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Quote:
Originally Posted by tmm99 View Post
I may have the same ailment you do, but in a much smaller scale and I can probably kick it if I put my mind to it Maybe you are still young(ish) and have a long road ahead of you? What does your FireCalc type of tools say? Mine says I can spend more than twice as much, but this is my first year, so I am extra cautious...
I'm 52 and am planning for another 40 years so yes, that does have something to do with it. If I take future SS into account, Firecalc says that I could spend double and still have a 100% success rate, but I'm playing it cautious.

OTOH, I sure would like that class B camper van...........
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Old 05-10-2016, 10:58 AM   #43
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I'm 52 and am planning for another 40 years so yes, that does have something to do with it. If I take future SS into account, Firecalc says that I could spend double and still have a 100% success rate, but I'm playing it cautious.

OTOH, I sure would like that class B camper van...........
Yep, that makes sense. At 52, I can see you being extra cautious.
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Old 05-10-2016, 11:01 AM   #44
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I just happen to have the solution!

Buy a dream house and fix it up so that is it utterly perfect for you to spend the rest of your years living in it. That'll take care of your 2% problem,
I would think he would have to move first since he lives in the bay area. A house purchase n the bay area would have definitely broken my Fire and many others.
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Old 05-10-2016, 11:03 AM   #45
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LOL - a house purchase here would use up my entire stash!

But W2R - the spirit of your comments are certainly giving me food for thought, as my personal dream is a little camper van, which is much more affordable than a house in the Bay Area.
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Old 05-10-2016, 11:29 AM   #46
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LOL - a house purchase here would use up my entire stash!

But W2R - the spirit of your comments are certainly giving me food for thought, as my personal dream is a little camper van, which is much more affordable than a house in the Bay Area.
Well, there you go! Buy your dream camper van, and fix it up to be just exactly what you want, and I guarantee that your 2% will go out the window at least for a year or so.

I often forget (and can hardly believe!) the prices of houses in the Bay Area. Every month or two I "go there" on realtor.com and it is just mind boggling to me. I thought houses were expensive in Berkeley back in the 1960's when I lived there, but wow - - they are just through the roof there. And SF? The prices there just make me laugh these days.
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Old 05-10-2016, 11:36 AM   #47
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Originally Posted by Midpack View Post
We supposedly have (way) more than enough, but only 5 years in with another 30+ to go, I wouldn't presume to really know, so I voted "a little more." All we can do us plan as best we can, have a plan B, C, D --- and enjoy/live life in the present. That's my story and I'm sticking to it...
Same here. And I don't want to tempt fate!

All we need is another big market swoon with a very slow recovery, and all of a sudden I'll be in the just getting by camp.
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Old 05-10-2016, 11:37 AM   #48
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I would think he would have to move first since he lives in the bay area. A house purchase n the bay area would have definitely broken my Fire and many others.
Yes, for us it was either a house in the bay area or FIRE. We decided that FIRE was way more important.
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Old 05-10-2016, 11:54 AM   #49
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If you announced your retirement, I missed it. Must be when I was traveling or missed it somehow (meaning my memory is still superior - it's not forgetful if you never know about it).
Since returning to these boards, I have tried to be more unassuming. I'm not sure why.

My "announcements" - such as they were - were here:

Share your FIRE Milestones

and here:

Class of 2016

I have a journal going on over at the MMM board with many details:

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Old 05-10-2016, 12:12 PM   #50
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Originally Posted by Major Tom View Post
I'm 52 and am planning for another 40 years so yes, that does have something to do with it. If I take future SS into account, Firecalc says that I could spend double and still have a 100% success rate, but I'm playing it cautious.

OTOH, I sure would like that class B camper van...........
Tom, it pains me to see you procrastinating on the RV, year after year. I understand some reluctance due to your tender age, but you have to know that the "no SS" fear isn't realistic. If SS isn't there for you in 10 years then you (and the rest of us) will have problems far greater than wishing you hadn't purchased and enjoyed using that RV for the past decade.
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Old 05-10-2016, 01:04 PM   #51
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I selected the goldilocks option - just exactly what I need.

We have some income streams outside of withdrawals - rent, SS for DH, SS for the kids (which is fed straight into their 529's). But we're still withdrawing 3.5%. Since I'm relatively young (54) and the kids aren't launched yet... I'm nervous about taking more out. But we have a nice life with what we have. Just right.

If the market goes on a tear up or down I'll spend more or cut back more.
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Old 05-10-2016, 01:20 PM   #52
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Right now, things are a little tight - living in expensive San Francisco and all. Rent eats a lot of our income and we have little left to spend elsewhere. So "I have a little less than I'd prefer to spend", and "I might want to do something like kick up the LBYM", which for us means moving away from the bay area to cut our housing costs by 80%. After the move, we should be able to go up one or two levels in the poll.
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Old 05-10-2016, 02:43 PM   #53
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Tom, it pains me to see you procrastinating on the RV, year after year. I understand some reluctance due to your tender age, but you have to know that the "no SS" fear isn't realistic. If SS isn't there for you in 10 years then you (and the rest of us) will have problems far greater than wishing you hadn't purchased and enjoyed using that RV for the past decade.
Thanks REW. I don't have any fear of SS not being there, and actually think I'll get most, if not all, of the amount that is currently estimated. There are a few other factors holding me back. Like most things, it's a complex equation, though some would say things are only as complicated as you make them.

I guess I'm just experiencing "OMY RV" syndrome

I won't bore y'all with the several reasons for holding back. Some are financial, and some are personal, and I'm a little weird about sharing those sorts of things - even in a semi-anonymous forum like this. In the meantime, I watch RV'ing YouTube channels and read RV'ing blogs to excess - but it still ain't quite like the real thing.
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Old 05-10-2016, 07:19 PM   #54
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Thanks REW. I don't have any fear of SS not being there, and actually think I'll get most, if not all, of the amount that is currently estimated. There are a few other factors holding me back. Like most things, it's a complex equation, though some would say things are only as complicated as you make them.

I guess I'm just experiencing "OMY RV" syndrome

I won't bore y'all with the several reasons for holding back. Some are financial, and some are personal, and I'm a little weird about sharing those sorts of things - even in a semi-anonymous forum like this. In the meantime, I watch RV'ing YouTube channels and read RV'ing blogs to excess - but it still ain't quite like the real thing.
Didn't "know" that you had RV in your blood. I think I remember that you are a renter. Where would you park it? Wouldn't it be expensive to rent parking year round? Couldn't you just rent an RV on occasion? I know nothing about RV's so just ignore me..
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Old 05-10-2016, 09:02 PM   #55
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Didn't "know" that you had RV in your blood. I think I remember that you are a renter. Where would you park it? Wouldn't it be expensive to rent parking year round? Couldn't you just rent an RV on occasion? I know nothing about RV's so just ignore me..
I've been thinking about it a lot ever since 2009, when I stopped working. I have never RV'ed before, and haven't done very much tent camping in my life either, but it has gripped my imagination so much that at this point, I can hardly dismiss it as a passing phase.

Yes, I'm a renter, with only street parking available, so would need to factor in the price of parking/storage. I can justify the purchase cost of an older used class C or class B, but the combined running costs (including parking and maintenance) push my budget more than I'm willing to allow at this stage.

However......my rental situation may come to an end at some point. It's a small studio in an old converted house. It's a lovely old house and a pleasant place to live, but there is a lot of deferred maintenance. The owner is elderly, and when he's either no longer able to run it, or is no longer around, I think there's a high chance that it will end up being torn down to make way for a new apartment building - or it will be bought by someone who wants to live in it and can easily afford to pay for the restoration. Either way, I'll be out of a place to live, which will be wonderful, as it will be the perfect excuse to move full-time into an RV.

So, to cut a long story short, I cannot justify the cost of an RV/motorhome for occasional use. I'd love to try full-timing though. It would be a mix of urban and rural boondocking, with the occasional stay in an RV park. Trouble is, my rent in this nice old house is so cheap in this expensive metro area, that I am not about to willingly give it up. Basically, I am sitting around waiting for my current living situation to fall through so that I will be "forced" to go live in an RV with my cats.

I haven't considered renting an RV, due to the cost. It's definitely not cheap, and I doubt they'd allow me to bring along my cats.

Apologies for the thread hijack.
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Old 05-11-2016, 03:12 AM   #56
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I often forget (and can hardly believe!) the prices of houses in the Bay Area. Every month or two I "go there" on realtor.com and it is just mind boggling to me. I thought houses were expensive in Berkeley back in the 1960's when I lived there, but wow - - they are just through the roof there. And SF? The prices there just make me laugh these days.
SF prices actually dropped a bit recently:
Bay Area Home Prices Drop For First Time in Four Years - Curbed SF
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Old 05-11-2016, 06:26 AM   #57
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I voted for "I have a lot more than I can spend", but it's more like "I have a lot more than I am willing to spend". For now since this is my first year, I am willing to spend about 50-60% of what FireCalc and other planners say I could. (My high end projection for this year is less than 50% due to the strong USD against CAD.) Believe me, I would like to spend more than I am spending right now, but I am being cautious. In a few years, once I get a hang of this, and if it all looks good, I will be spending more.

W2R, I love those polls!! Thanks for setting it up.

When someone needs an income that is half of what firecalc indicates is 100%, they can literally put it in a mattress and pull out what they need for 30+ years assuming inflation of 3%. No worries on investment risk. Just worry about roaches eating the piles of cash or very high inflation.
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Old 05-11-2016, 08:43 AM   #58
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Now that's interesting! I never would have expected it. Still, real estate prices are shockingly high there and I should have thought of that before recommending a dream house to Major Tom. Oops.
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Old 05-11-2016, 08:47 AM   #59
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Right now, things are a little tight - living in expensive San Francisco and all. Rent eats a lot of our income and we have little left to spend elsewhere. So "I have a little less than I'd prefer to spend", and "I might want to do something like kick up the LBYM", which for us means moving away from the bay area to cut our housing costs by 80%. After the move, we should be able to go up one or two levels in the poll.
Most definitely! I think you will be pleased with the decrease in cost of living after you relocate.
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Old 05-11-2016, 08:48 AM   #60
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Major Tom can have his dream house, but it just has to be out of the SF area. And maybe it should have wheels.
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