Rich_by_the_Bay
Moderator Emeritus
Nords said:
What's a good surf board cost these days?
But I'm with you - much less about "things" than experiences which, unfortunately, cost a lot too in some cases.
What about Living ABOVE Your Means After FIRE???
- Thread starter FinanceDude
- Start date
What's a good surf board cost these days?
But I'm with you - much less about "things" than experiences which, unfortunately, cost a lot too in some cases.
C
Cut-Throat
Guest
Rich_in_Tampa said:What's a good surf board cost these days?
But I'm with you - much less about "things" than experiences which, unfortunately, cost a lot too in some cases.
Reminds me of the old Joke!
Dear what do you want for Christmas - A Diamond Ring?
'No"
How about a new Mink Coat?
"No"
How about that cute little Mercedes Convertable?
"No"
Well - what do you want?
"I want a Divorce"!
Gee - I hadn't planned on spending that Much!
I understand the issue raised here well.
My wife and I have lived below our means for years, and we've invested well.
The net result is that our retirement income will be at least what we're making now and probably more, (even before social security).
I've already created a trust for my children and (unborn) grandchildren, but doubt that I will be comfortable spending a whole lot more than I have monthly on average for the past almost 40 years. But, then again, I may surprise myself. Work has been the focus of much of my life, and I've only been to Europe twice, Australia and South Africa once, etc ...
August 1, 2008, is the final-final retirement date at age 61. (Someone may recall that I had said it would be February 1, 2007, but an interesting opportunity in a distant state seemed [and was] worth taking a detour for.)
Given the highly responsible nature of most posters to this site, I suspect there are others in the same pleasant position -- at least I hope so. Like me (and Martha who announced her retirement on another site today), I suspect many of those are gearing down even now.
My wife and I have lived below our means for years, and we've invested well.
The net result is that our retirement income will be at least what we're making now and probably more, (even before social security).
I've already created a trust for my children and (unborn) grandchildren, but doubt that I will be comfortable spending a whole lot more than I have monthly on average for the past almost 40 years. But, then again, I may surprise myself. Work has been the focus of much of my life, and I've only been to Europe twice, Australia and South Africa once, etc ...
August 1, 2008, is the final-final retirement date at age 61. (Someone may recall that I had said it would be February 1, 2007, but an interesting opportunity in a distant state seemed [and was] worth taking a detour for.)
Given the highly responsible nature of most posters to this site, I suspect there are others in the same pleasant position -- at least I hope so. Like me (and Martha who announced her retirement on another site today), I suspect many of those are gearing down even now.
playaman said:
Martha,
Is that right? Are you now officially on our side of the hill? If so, Congrats!
As for the thread overalll -- it is really tempting to gild the lily a little more , work another two years, save another 100k whatever. It is human nature.
Personally I've been helped by the past four years of appreciation in the markets, but there's no way to know what market conditions will do once you ER.
I like the deduct-a-percent-of-this-year's-portfolio value approach to SWR, since that allows our spending to rise along with portfolio performance. If I had to lock down my real living expenses at the beginning of ER, I would no doubt want to have kept working longer, too. I think that approach is now shown to be unecessary, and not the best for long term retirees.
In general, real wages increase 1% a year historically, and human nature seems to want living standards to drift up over time, too. Long term ER planning needs to at least be aware of that. Obviously at some point (around the time of the senior-citizen diapers, I guess) that formula stars to drift back down again.
Similar threads
