Live And Learn
Thinks s/he gets paid by the post
This is very helpful ! More great questions and points to ponder.
Excluding about 280k from portfolio to self fund Long Term Care (100k), Bucket List Vacations (60k), 2 new roofs (current home before I sell and new home after I buy) 40K, two replacement used cars (25k), 3 new AC units (40k), realtor fee to sell current home (15k).
Also excludes value of next (smaller) home (which would fund about 1.5 - 2 yrs expenses at desired spend rate). Also assuming that SS will only pay out 65% of what it says I will be eligible for if I stop work today.
If desperate times came to desperate measures I could cut 7K annually from my spending. At that level I get 98% success to age 100 using Firecalc. However that assumes I start the reduced spending now. If I reduce by 5k staring at age 80 I get 86% to age 100.
Excluding about 280k from portfolio to self fund Long Term Care (100k), Bucket List Vacations (60k), 2 new roofs (current home before I sell and new home after I buy) 40K, two replacement used cars (25k), 3 new AC units (40k), realtor fee to sell current home (15k).
Also excludes value of next (smaller) home (which would fund about 1.5 - 2 yrs expenses at desired spend rate). Also assuming that SS will only pay out 65% of what it says I will be eligible for if I stop work today.
If desperate times came to desperate measures I could cut 7K annually from my spending. At that level I get 98% success to age 100 using Firecalc. However that assumes I start the reduced spending now. If I reduce by 5k staring at age 80 I get 86% to age 100.