traineeinvestor
Thinks s/he gets paid by the post
Hi All
I found this forum through one of the blogs I visit from time to time.
By way of introduction I'm an expat living in Hong Kong planning/hoping to hit my retirement number by the end of 2011 and retire one or two years after that (end of 2013 at the very latest).
Given that I have two young children (currently ages 6 and 4) and my wife is a few years younger than me, I have to assume that our savings may need to last up to 50 years. Also, I do not have a pension and the local equivalent of SS is relatively low so I do not have much other than our savings to fall back on. (On the positive side, the taxes are low, the public health service is pretty good and I live in a city where a car is completely unnecessary.)
This makes me a bit nervous about quitting early but hopefully the extra year or two of work will be enough to provide an adequate safety buffer.
FIREcalc is a great tool and the numbers stack up (as did my own more primitive calculations) but I'm still wondering if I'm being a bit rash. If anyone can point to any papers or threads on very long retirement periods (50 years), I would be grateful.
Cheers
traineeinvestor
I found this forum through one of the blogs I visit from time to time.
By way of introduction I'm an expat living in Hong Kong planning/hoping to hit my retirement number by the end of 2011 and retire one or two years after that (end of 2013 at the very latest).
Given that I have two young children (currently ages 6 and 4) and my wife is a few years younger than me, I have to assume that our savings may need to last up to 50 years. Also, I do not have a pension and the local equivalent of SS is relatively low so I do not have much other than our savings to fall back on. (On the positive side, the taxes are low, the public health service is pretty good and I live in a city where a car is completely unnecessary.)
This makes me a bit nervous about quitting early but hopefully the extra year or two of work will be enough to provide an adequate safety buffer.
FIREcalc is a great tool and the numbers stack up (as did my own more primitive calculations) but I'm still wondering if I'm being a bit rash. If anyone can point to any papers or threads on very long retirement periods (50 years), I would be grateful.
Cheers
traineeinvestor