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Old 05-07-2012, 09:14 AM   #21
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I hadn't played with firecalc in quite a while, but around the start of this year I put my numbers in, and it returned 100% success rate. That made my planned 2016 ER seem a lot more real. And it's had the effect of lowering both my stress and my motivation at w*rk. "Only" 4.5 more years...

My moment was when I hit 100% on firecalc. DW has never been real interested in our finances and has let me manage them since we got married. She had always planned to work at least until her 60s, but took a real interest in RE when I explained that we were getting real close a few years ago. She's on board with the program now and is ready to ditch work and let me keep working.

We sat down last night and went over the plan. I need three more years to get a state pension, which would be nice, but not absolutely necessary. DW could RE right now, but with a son finishing 10th grade we often wonder whether we should keep working until he decides where he will go to college, which is the big unknown piece of the puzzle. We decided she would work through the end of the year and I would keep going to get the pension. Still feel the stress, but I am not nearly as motivated as I was 4 or 5 years ago. Only three more years....
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Old 05-07-2012, 09:16 AM   #22
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DW has never been real interested in our finances and has let me manage them since we got married.
Apologies for the slight hijack but do you have a "letter from your dead husband" prepared so she'll know how to handle the money if you can no longer do it? I'm trying to get my wife more involved and interested in our financial planning but it's a long road to hoe and I find myself having to update said letter every few months.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 05-07-2012, 09:21 AM   #23
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Originally Posted by ziggy29 View Post
Apologies for the slight hijack but do you have a "letter from your dead husband" prepared so she'll know how to handle the money if you can no longer do it? I'm trying to get my wife more involved and interested in our financial planning but it's a long road to hoe and I find myself having to update said letter every few months.
Actually I do have the note. It's not "letter from your dead husband", but it's a word doc titled, "What to do when ikubak dies". I also update a list of all the accounts we have so she knows where everything is and the value. I should really get her more involved in the finances, but that probably won't happen until she is retired.
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Old 05-07-2012, 09:26 AM   #24
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Originally Posted by ziggy29 View Post
Apologies for the slight hijack but do you have a "letter from your dead husband" prepared so she'll know how to handle the money if you can no longer do it? I'm trying to get my wife more involved and interested in our financial planning but it's a long road to hoe and I find myself having to update said letter every few months.
I have a 5 page letter. It has all of our accounts, insurance policies, bills, asset allocation/investment plan and pensions outlined with contact information. I force her to read it once per year as I update it. I've forced her to sit through the annual rebalancing (hitting the buttons I tell her) but she is not coming up to speed very quickly.

When I finally retire, it will become much simplier since all of the employment stuff goes away. My 15 yr term policy is also about to expire so there won't be any life insurance either.
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Old 05-07-2012, 09:36 AM   #25
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I have a 5 page letter. It has all of our accounts, insurance policies, bills, asset allocation/investment plan and pensions outlined with contact information. I force her to read it once per year as I update it. I've forced her to sit through the annual rebalancing (hitting the buttons I tell her) but she is not coming up to speed very quickly.

When I finally retire, it will become much simplier since all of the employment stuff goes away. My 15 yr term policy is also about to expire so there won't be any life insurance either.
OK 2B...you raised the bar!! I need a better, more explicit note on what to do when I expire. It's about time for me to update the instructions anyway.
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