O.K.
My wife and I just bought a used Airstream trailer and a new Ford F250 to tow it. I could have spent an extra 5K for a totally tricked out top of the line truck for an extra 3-4K (spent 44K on the one we got).
So, it seems I could easily have afforded the extra luxury. But, my frugality kept me from doing so.
W
O.K.
My wife and I just bought a used Airstream trailer and a new Ford F250 to tow it. I could have spent an extra 5K for a totally tricked out top of the line truck for an extra 3-4K (spent 44K on the one we got).
So, it seems I could easily have afforded the extra luxury. But, my frugality kept me from doing so.
W
O.K.
I may be mistaken. But, I thought that this forum could provide objective financial advice. While my initial question had ambiguity about my financial decisions, those questions should not involve matters of personal values.
I simply want to know whether or not, given the current economic environment, if there is an agreement about how much of my principle I can draw down and still be solvent in my old age.
My wife and I live very comfortably in the house that we own. We travel and, until recently, have had a modest yacht. We are now embarking on an extended cross country excursion. We bought a used Airstream trailer and a new F250 truck. For a few thousand more I could have bought a fully tricked out Lariat or Ranch King.
So, am I being too frugal? The luxury of the higher end vehicles would be enjoyable. But, my frugal side says, don't do it.
Actually your financial questions do involve matters of personal values.O.K.
I may be mistaken. But, I thought that this forum could provide objective financial advice. While my initial question had ambiguity about my financial decisions, those questions should not involve matters of personal values.
I simply want to know whether or not, given the current economic environment, if there is an agreement about how much of my principle I can draw down and still be solvent in my old age.
So, am I being too frugal? The luxury of the higher end vehicles would be enjoyable. But, my frugal side says, don't do it.
Some of us are all 3 of the above.We also have the Internet's usual assortment of survivalists, paranoids, and skeptics.
No, make that a possibility of being all 4.Another poster would prefer that Texas forbid all further immigration to the state...
Actually your financial questions do involve matters of personal values.
The FIRECalc says I won't be broke before I die if I spend another 70K/yr. If you were in my situation, how much confidence would you have in that?
The lease for the real estate does not reflect true market rates.
The company that bought me out never buys the real estate of the businesses they acquire and they have an excellent track record for keeping them going. (They have annual revenue of about 1.5B and profit of about 17%)
Many of the long-time posters here have no agendas other than to hang around, and to poke fun at each other. Sometimes the humor here may be a bit esoteric for a newcomer to get. For example, my own earlier post on this thread might be misunderstood. What do you expect from a bunch of weirdos? The frugal type who wants to ER is of course different than the average Joe or Jane.Thanks, Nords, for the thoughtful post. I fully understand that forums like this attracts all sorts of people with all sorts of agendas...
Really, the OP is self-contradicting. A triple net commercial property with long term lease and escalations currently earning $120K is worth a lot more than $750k, punto.
O.K.
I may be mistaken. But, I thought that this forum could provide objective financial advice. While my initial question had ambiguity about my financial decisions, those questions should not involve matters of personal values.
I simply want to know whether or not, given the current economic environment, if there is an agreement about how much of my principle I can draw down and still be solvent in my old age.
My wife and I live very comfortably in the house that we own. We travel and, until recently, have had a modest yacht. We are now embarking on an extended cross country excursion. We bought a used Airstream trailer and a new F250 truck. For a few thousand more I could have bought a fully tricked out Lariat or Ranch King.
So, am I being too frugal? The luxury of the higher end vehicles would be enjoyable. But, my frugal side says, don't do it.
I have been very frugal and fairly successful. I have a net worth of about 3.4M. About 2.0M is in stocks, bonds and cd's ( 40%, 40% and 20% respectively). The rest is in commercial real estate (750K value generating 120K/yr) the rest is in my home and personal property.
I have been retired for the last 3 years and have limited my spending to the income available from my real estate and a small amount from consulting (less than 8K/year).
I have run the FIRECalc and at age 58 (wife is 59) it seems I should be able to spend about 70-80K more per year.
But, I seem to have a great fear of doing that. I'm worried that inflation such as we saw in the early 80's is almost guaranteed (at least in my mind). So that, even though I have a good amount in equities, it may not be enough to guard against inflation.
Am I being too paranoid?
W