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Old 02-17-2016, 01:29 PM   #81
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Watching the market minute by minute may be worse than w*rking.
True. These markets are exhausting to watch. May take a job to relax.
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Old 02-17-2016, 05:43 PM   #82
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3 straight days in the green...one more and I'm buying a new Beemer.
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Old 02-17-2016, 06:00 PM   #83
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Absolutely not buying anything other than food. Well, also the usual booze.

I am still down an entry-level Rolls Royce from my highwater mark, after adjusting for expenses.
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Old 02-17-2016, 06:15 PM   #84
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Absolutely not buying anything other than food. Well, also the usual booze.

I am still down an entry-level Rolls Royce from my highwater mark, after adjusting for expenses.
that's why you gotta buy your toys at the top!

food is wayyy overrated.
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Old 02-17-2016, 07:13 PM   #85
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I have been watching the markets minute by minute lately. I can't help feeling like a huge crash is coming very soon, maybe next week. .
"Next week" is now this week.

I just don't see it coming this week.

Maybe next week, eh?
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Old 02-17-2016, 08:02 PM   #86
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"Next week" is now this week.

I just don't see it coming this week.

Maybe next week, eh?
Two days left. Anything can happen with this market.
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Old 02-17-2016, 09:08 PM   #87
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that's why you gotta buy your toys at the top!

food is wayyy overrated.
I definitely take out funds to buy toys at the top! (Actually, I just don't put back money I don't spend from the withdraw).

And food is definitely not overrated.
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Old 02-17-2016, 09:12 PM   #88
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Two days left. Anything can happen with this market.
Well, there was that Thursday in October 1987. Bad followed by worse on Friday. Then the waterfall event, Black Monday on October 19th.

One can always hope for such a thing, to be rescued from an errant prediction.
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Old 02-18-2016, 11:02 AM   #89
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What toys during up-market years? I blew my discretionary allotment on home repairs and improvements already.

Good thing we are both homebodies when we do not travel, and care more about our homes than fancy cars.
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Old 02-18-2016, 11:47 AM   #90
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What toys during up-market years? I blew my discretionary allotment on home repairs and improvements already.

Good thing we are both homebodies when we do not travel, and care more about our homes than fancy cars.
My plan is to allocate and set aside the money for toys during up-market years but actually buy those toys during down-market years.

(Toys = boat, motorcycles, jet skis, etc.)
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Old 02-18-2016, 02:34 PM   #91
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That should work well, because during economic hard times you would get good deals on everything from cars, homes, to services like travel, home improvements, etc...

The problem is it is difficult to plan for, as stock market movements as well as recessions are not predictable. Plus, when you are older your time may be limited and you cannot wait.

In the last few years I took a few long RV treks and paid through the nose for expensive gas, particularly in Canukstan and the People Republic of, oh never mind. If I take those trips now, would save perhaps $3K on gas, but how did I know then if I would still be breathing now?

For younger retirees with more time left, a bit of flexibility in discretionary spending will work well.
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Old 02-18-2016, 03:26 PM   #92
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That should work well, because during economic hard times you would get good deals on everything from cars, homes, to services like travel, home improvements, etc...

The problem is it is difficult to plan for, as stock market movements as well as recessions are not predictable. Plus, when you are older your time may be limited and you cannot wait.
It's not too hard to manage. When the markets are up, my withdrawal increases, and I tend to have more left over after spending. So I tend to have more going into my "slush fund" during up markets. Then, in a down market, when my withdrawal drops, I have that to slush fund draw on if I choose.
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Old 02-18-2016, 06:04 PM   #93
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S&P and Dow finished in the red today....I needed 4 days in a row in the green to buy that Beamer....too bad...
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Old 02-18-2016, 06:52 PM   #94
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It's not too hard to manage. When the markets are up, my withdrawal increases, and I tend to have more left over after spending. So I tend to have more going into my "slush fund" during up markets. Then, in a down market, when my withdrawal drops, I have that to slush fund draw on if I choose.
That may be a good accounting device to remind you that you underspent in past years and can still indulge now. But I can also call up my past year expenses in Quicken to get that info.

And Quicken tells me that there is no underspending. In fact, I have been spending quite steadily in the past 3 years since I fully retired, and more than I initially thought I would. Hah!

The saving grace is that FIRECalc tells me that I can spend even more, a lot more than I allow my frugal self. So, if I want some toys, I can use FIRECalc as an excuse to indulge. But I do not want anything more now, and am quite content with my life and my "stuff". If the market god suddenly turns generous and dumps a boatload of money into my account, I may, just may, get an X3 or X5 just for the heck of it. Or I may not spend on anything, and just look at that number on Quicken screen, and smile.
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Old 02-18-2016, 07:33 PM   #95
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That may be a good accounting device to remind you that you underspent in past years and can still indulge now. But I can also call up my past year expenses in Quicken to get that info.
I don't have to review past expenses in Quicken - that money is already gone! The growing "slush fund" is squirreled away in various high yield savings accounts, so it's just a matter of adding them up. OK - Quicken does that. I do track current YTD spending, and how much allocated to current year budget still left to spend. The rest is the excess!!

Anyway - a short-term funds report, and I know how much my slush fund has grown. It's pretty obvious to me.

I do review current year budget and short-term funds monthly.
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Old 02-18-2016, 07:43 PM   #96
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Yes, we have talked about this before.

I do not predraw money to spend for each year. We never had a budget during our working years, and tended to underspend consistently. This habit of not having a rigid budget carries over into retirement now.

I have a number in mind as to how much I should spend, and would occasionally look at the actual expenses to compare. My "slush fund" is just mental, and commingled with the rest.
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Old 02-18-2016, 09:52 PM   #97
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I'm attracted to complexity like a moth to a flame. Recently this moth has been trying to simplify where possible. Seems a specific place for the spending money is a good thing to me. As I get older it will be more appreciated. So I like Audrey's approach.

On a minor note, if I put 4% aside for this year I won't worry about accounting for that as purely spending money, i.e. it's still figured in as being part of the AA. But if it is not spent in that year, the pile grows and then I'll have to consider it as a separate pile of pure spending money. Wouldn't want to subject that pile to a bad sequence of years. We'll see how that works out as we might have difficulty spending all of our $'s this year ... a nice problem to have.
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Old 02-18-2016, 11:15 PM   #98
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Yes, we have talked about this before.

I do not predraw money to spend for each year. We never had a budget during our working years, and tended to underspend consistently. This habit of not having a rigid budget carries over into retirement now.

I have a number in mind as to how much I should spend, and would occasionally look at the actual expenses to compare. My "slush fund" is just mental, and commingled with the rest.
Our budget isn't rigid. It's just a number that usually exceeds our actual annual expenses with a few allocations for certain things like gifts/charity. So I know I need to set aside that much for one year, and I watch as we spend it down. And at the end of the year I see how much was "left over" and it gets rolled into the "slush fund".

We've always tracked out annual spending, so I was able to come up with a pretty good number that would more than comfortably cover our usual expenses, and that's what we use.
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Old 02-19-2016, 08:39 AM   #99
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Same here. I don't get too hung up on what we spend as the total is pretty consistent. I can monitor it in a way by looking at our local bank balance and projected balance in Quicken as our automatic monthly withdrawals and quarterly dividends from taxable accounts more than cover our basic spending.

What does surprise me is that I haven't needed to increase our monthly automatic withdrawal for inflation.
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Old 02-19-2016, 08:50 AM   #100
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Same here. I don't get too hung up on what we spend as the total is pretty consistent. I can monitor it in a way by looking at our local bank balance and projected balance in Quicken as our automatic monthly withdrawals and quarterly dividends from taxable accounts more than cover our basic spending.

What does surprise me is that I haven't needed to increase our monthly automatic withdrawal for inflation.
I set what I considered to be a generous budget over 10 years ago. We are just now catching up to that number, but I haven't had to increase it yet. So no inflation indexing here either.
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