Hi All,
My first post! Been reading on this site for several months. Really happy I found it. Very insightful. I am targeting a 1June17 date to stop working. But it sure is a scary idea. The increasing interest rates are impacting my pension. So pushing me along a little faster than my original plan. Over the past 6 months I have been busy worrying and using every retirement calculator I can find. All calculators, including FireCalc, give a very favorable success rate.
I was wondering what most people think about the spending model. One option in FireCalc is to use a decreasing spending model. To me this seems consistent with my observations of others as they get older. If I model with this assumption, we could increase our planned initial spending. However at 56 not sure I am comfortable thinking that my spending will decrease for the next several years. However maybe in 10+ years... maybe that would be true. What is the thinking about spending modeling?
Thanks.
My first post! Been reading on this site for several months. Really happy I found it. Very insightful. I am targeting a 1June17 date to stop working. But it sure is a scary idea. The increasing interest rates are impacting my pension. So pushing me along a little faster than my original plan. Over the past 6 months I have been busy worrying and using every retirement calculator I can find. All calculators, including FireCalc, give a very favorable success rate.
I was wondering what most people think about the spending model. One option in FireCalc is to use a decreasing spending model. To me this seems consistent with my observations of others as they get older. If I model with this assumption, we could increase our planned initial spending. However at 56 not sure I am comfortable thinking that my spending will decrease for the next several years. However maybe in 10+ years... maybe that would be true. What is the thinking about spending modeling?
Thanks.