A good book on this subject is:
"The Number" by Lee Eisenberg
See: http://thenumberbook.com
I enjoyed it.
"The Number" by Lee Eisenberg
See: http://thenumberbook.com
I enjoyed it.
Are you aiming at a date or a sum?
- Thread starter Rich_by_the_Bay
- Start date
Re: ARe you aiming at a date or a sum?
Good to hear from someone in the same situation. Spanky too, will be in the same boat.
I hear you Nords. I firmly told my kids that graduate study is their responsibility. However, to myself, I said I would try to pitch in. I just couldn't help thinking about the miserable time I had financially while going through college.
Arc said:
Good to hear from someone in the same situation. Spanky too, will be in the same boat.
Nords said:
I hear you Nords. I firmly told my kids that graduate study is their responsibility. However, to myself, I said I would try to pitch in. I just couldn't help thinking about the miserable time I had financially while going through college.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
OkieTexan said:
See the discussion in this thread: http://early-retirement.org/forums/index.php?topic=5422.0
"If I owned Texas and Hell, I would rent out Texas and live in Hell." - Philip Sheridan
--------------------------------
Phil Sheridan was a drunk during the Civil War and served at Fort Duncan near what is now Eagle Pass (Piedras Negras). Maybe that is why he thought that way!
The main message I got from the "Number Book" was that no number is going to make retirement a cake walk! But worrying about it won't either! There are as many variations of the number as there are examples of our expectations from retirement.
It was a decent read.
--------------------------------
Phil Sheridan was a drunk during the Civil War and served at Fort Duncan near what is now Eagle Pass (Piedras Negras). Maybe that is why he thought that way!
The main message I got from the "Number Book" was that no number is going to make retirement a cake walk! But worrying about it won't either! There are as many variations of the number as there are examples of our expectations from retirement.
It was a decent read.
O-T or anyone else who's a fan of lawyer jokes, here are some more including the 12 ft one. (I was married to one for all those years before ER, though she was one of the good ones!)
http://www.wakelydam.com/lawyers.html
http://www.wakelydam.com/lawyers.html
Sheryl
Thinks s/he gets paid by the post
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Rich - it shoulda' been a poll...
Anyway, We set a number, then reached it, then bumped it up, then reached that. So now we have set a date - which is based on when we want to leave the work and projects we are doing at work.
It takes some time to mentally work up to the idea for us.
Anyway, We set a number, then reached it, then bumped it up, then reached that. So now we have set a date - which is based on when we want to leave the work and projects we are doing at work.
It takes some time to mentally work up to the idea for us.
Outtahere
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I had a date and an amount, I'm hoping to reach the amount before the date, if I do the date will change.
unclemick
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hmmm Hindsight being what it is:
Planned on 1.3 mil in 2006 at age 63. Was canned, layed off, made redundant Jan 1993 with 300k his and hers plus a 50k duplex at age 49.
So post Katrina and one tornado. Net worth after 13 going into 14 yrs of ER - ballpark 1.1 mil. in financial stuff.
Time in the market and all that rot - plus da 90's was a good decade.
Had I not been unemployed - I'd probably be still working and wondering whether I had enough to retire.
Heh heh heh heh - don't underestimate the mental difficulty of making the leap once you get handgrenade close nest egg wise.
Planned on 1.3 mil in 2006 at age 63. Was canned, layed off, made redundant Jan 1993 with 300k his and hers plus a 50k duplex at age 49.
So post Katrina and one tornado. Net worth after 13 going into 14 yrs of ER - ballpark 1.1 mil. in financial stuff.
Time in the market and all that rot - plus da 90's was a good decade.
Had I not been unemployed - I'd probably be still working and wondering whether I had enough to retire.
Heh heh heh heh - don't underestimate the mental difficulty of making the leap once you get handgrenade close nest egg wise.
Perhaps true, but lets not flirt with JG retirement strategy mentality. We have impressional minds that visit here, and we have a responsibility to not lead them astray.
I think if you added it up, far more retire before they're financially ready (and usually go back to work), than work longer than they had to.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
OkieTexan said:"If I owned Texas and Hell, I would rent out Texas and live in Hell." - Philip Sheridan
--------------------------------
Phil Sheridan was a drunk during the Civil War and served at Fort Duncan near what is now Eagle Pass (Piedras Negras). Maybe that is why he thought that way!
I though he was just miffed about property taxes...
MooreBonds
Thinks s/he gets paid by the post
mickeyd said:
My sentiments exactly mickeyd....however, I would say my Prime Directive is "The Number" (no pension, all investments). I have a secondary goal of an age, but no definite age number (just as early as possible, depending on Prime Directive
). Since I hope to go in my late 30s, I'm shooting for a conservative 2.5% withdrawal to meet expenses, depending on the particulars of my future wife (whomever it turns out to be ). Based on current dollars, I would guess about $1.6M total portfolio balance.
Spanky
Thinks s/he gets paid by the post
unclemick2 said:
Great job! Just curious.
What have you been investing? What is your asset allocation? What was your withdrawal rate? Does your withdrawal rate vary between years?
Thanks.
unclemick
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hmmm - it's buried back in my old posts.
1966-1976 - made every investment mistake in the book - except commodities futures.
But roughly 50/50 1976-1987 in 401k(the big dog) S&P 500/GIC's aka guaranteed insurance contracts. 100% S&P after the 1987 drop till 1993, slice and dice in Vanguard after the rollover until Lifestrategy moderate was availible (60/40).
Lived really cheap and did not tap IRA until after Katrina. Used severance pay, DRIP dividend stocks, sold and consumed duplex, worked a temp job for one year - two small pensions at age 55.
2006 - consolidated into VG Target Retiement 2015 - plan on 5% variable withdrawal rate. Non cola pension and early SS and stock dividends cover the bare bones fixed budget with the variable withdrawal for the 'variable' stuff.
Looking back - not touching the 401k rollover 1993-2005 did the trick and history helped - a good decade.
heh heh heh - actually more complicated/messy but in general - live cheap and watch the first ten years. Note - the temp job when it was offered helped.
1966-1976 - made every investment mistake in the book - except commodities futures.
But roughly 50/50 1976-1987 in 401k(the big dog) S&P 500/GIC's aka guaranteed insurance contracts. 100% S&P after the 1987 drop till 1993, slice and dice in Vanguard after the rollover until Lifestrategy moderate was availible (60/40).
Lived really cheap and did not tap IRA until after Katrina. Used severance pay, DRIP dividend stocks, sold and consumed duplex, worked a temp job for one year - two small pensions at age 55.
2006 - consolidated into VG Target Retiement 2015 - plan on 5% variable withdrawal rate. Non cola pension and early SS and stock dividends cover the bare bones fixed budget with the variable withdrawal for the 'variable' stuff.
Looking back - not touching the 401k rollover 1993-2005 did the trick and history helped - a good decade.
heh heh heh - actually more complicated/messy but in general - live cheap and watch the first ten years. Note - the temp job when it was offered helped.
StJohnsWood
Recycles dryer sheets
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The first date was when my youngest started college (13 years from now) then it was when I hit 50 (6 years from now), now?? could be this summer if the job keeps going they way it is.
jIMOh
Thinks s/he gets paid by the post
It's both an age and an amount. Prior to age 54, looking for 33X expenses. Age 55 or higher looking for 25X expenses.
It appears I am on track for age 52 and 25X without makes too many contributions from this point forward. I need to find that little extra to get from 25X to 33X over 20 year period.
It appears I am on track for age 52 and 25X without makes too many contributions from this point forward. I need to find that little extra to get from 25X to 33X over 20 year period.
jIMOh
Thinks s/he gets paid by the post
Hell is in Michigan (zip code 48169), why would anyone want to live there?
CuppaJoe
Moderator Emeritus
Maybe so the grim reaper would think you were already gone?
