Looking4Ward
Full time employment: Posting here.
I always find these generalized recommendations interesting. My mother retired with $230K in several checking accounts (highly risk adverse), bought a home for cash with half of that when everything was on sale in 2010, and collects approximately $19K per year in SS. Yet she still manages to save a few bucks each month.
This year I've moved to a highly regarded school district so my son can attend a great high school. I'm renting and have seen my WR double from 3.5% to almost 7%. But I consider it the price of admission for the next four years and then I will be able to cut expenses back by moving to a much lower COL area and will begin to collect SS.
Even then, my holy grail of financial calculators (FireCalc) seems to think I'll be just fine for the next 25-30 years at my current withdrawal rate so I'm not too concerned about it and like others have pointed out, if things take a turn south I will make substantial adjustments.
This year I've moved to a highly regarded school district so my son can attend a great high school. I'm renting and have seen my WR double from 3.5% to almost 7%. But I consider it the price of admission for the next four years and then I will be able to cut expenses back by moving to a much lower COL area and will begin to collect SS.
Even then, my holy grail of financial calculators (FireCalc) seems to think I'll be just fine for the next 25-30 years at my current withdrawal rate so I'm not too concerned about it and like others have pointed out, if things take a turn south I will make substantial adjustments.