Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-06-2017, 06:21 PM   #41
Full time employment: Posting here.
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 743
Quote:
Originally Posted by travelover View Post
What % did Firecalc give her when she retired?
I read the article after I read your post. I laughed out loud.

"Barbara Carlson never gave money a thought — until the day she ran out of it."

Firecalc, we don't need no stinking firecalc.
__________________

flintnational 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 08-06-2017, 06:26 PM   #42
Thinks s/he gets paid by the post
 
Join Date: Mar 2011
Posts: 4,359
Quote:
Originally Posted by travelover View Post
What % did Firecalc give her when she retired?
The first few sentences of the article show that she simply overspent and never thought about her bank balance. What did people think would happen?
__________________

__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 08-07-2017, 09:31 AM   #43
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 6,246
Send a message via Skype™ to kcowan
Lottery tickets! I hope she bought them.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 09-20-2017, 08:55 AM   #44
Thinks s/he gets paid by the post
exnavynuke's Avatar
 
Join Date: Sep 2016
Location: Acworth
Posts: 1,077
The % success chances also all depend upon you never changing your spending levels, or getting more income in the future, even if you see significant economic downturns.

My "essential" budget (covering everything I need to have my home/car/food/utilities/internet/TV/clothes/etc) comes out to ~$28k/year. So I could theoretically cut down to that level of spending if I eliminated all my "outside the house fun/enjoyment" money from my budget. I could still garden, go for walks, attend free events, watch TV/movies, play games, read books, etc all for that amount.

My "overall budget", however, is planned for needing $60k/year instead.

So while an "80% chance of success" on a $60k/year planned spending (using constant spending forever) may seem a bit low, it doesn't factor in that I will probably do some consulting work for a few months a year when I first "retire", or that if I watch the stock market drop I'll probably not spend $15k on vacations that year or I'll cut back on buying "stuff" that I probably don't need etc during such times.

Unless you're one of the "Mr Money Mustache" follower types that is planning on retiring on a 4% SWR that barely covers a "minimalist spending" lifestyle, I'd say that a 95% success rate, when adjusted for how most people would actually behave if things went poorly for a while, is probably more like a "you'll be absolutely fine unless something close to world-ending or other similar catastrophic scenario occurs". I'd say for most FIRE people, 80% is probably plenty, and 90% is practically a guarantee of success without a future calamity that would probably screw over the 95% success rate plan as well.
__________________

exnavynuke is online now   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
What is ‘good enough’ when it comes to Planner success rates? Senator FIRE and Money 65 12-20-2014 03:20 PM
Chart of Withdrawal Rate - Success Rate - Yrs Retired Midpack FIRE and Money 28 10-05-2013 11:02 AM
Happiness leads to success vs Success leads to happiness Midpack Other topics 4 02-06-2012 07:59 AM
Good Enough Annuity Rate cashbalancetrouble FIRE and Money 29 07-15-2008 10:44 PM

 

 
All times are GMT -6. The time now is 04:07 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.