Hi, I am 57 thinking of retiring next year.

[Koolau]

Some of us have declared dividends from our taxable accounts go directly to our checking accounts. We refer to that as "taking our dividends".

Ah. I guess I didn't even know that was done. Like I said, I use a sweep account to avoid dealing with the DRIP issue of determining basis on every stock. Good to know. Thanks.

 

[Jimonlimon]

Brilliant, curious to understand how you’ve been managing expenses.
Have you been using dividends? Selling bonds/stock? Just trying to get an idea.

Well done!

I think I listed up-thread but I have a pension with healthcare continuance. My net monthly pension is 80+% of my working net paycheck. We draw from 401k for the difference. It’s all taxable income which makes tax decisions fairly simple.

 

[2029FIREaway]

I think I listed up-thread but I have a pension with healthcare continuance. My net monthly pension is 80+% of my working net paycheck. We draw from 401k for the difference. It’s all taxable income which makes tax decisions fairly simple.

You are golden brotha or sista.
Enjoy Jammin’ those Lemons!

 

[brett]

From my perscpective the financial aspect of retiring early was the easiest part of the decison. Numbers are straighforward. Spend estimates, ROR on equities over time and inflation numbers can be estimated from a conservative perspective. Sure, you can spend your waking hours focused on them but they are constant. They are easy to understand and quantify.

The harder part...perhaps walking away and leaving a few years worth of of m money on the table. But...that may always be the case. That tinge of greed and desire to acquire that is present in most of us.

It came down to two factors for us. The first was what were our plans for retirement. Did we have any, what did they consist of.

The second was how many healthy years do we have left to enjoy an independent life and do the things we want to do. You cannot buy healthy years. Nor can you accurately predict. So it was a function of the value of those estimated healthy retirement years.

These made the financial aspects even less important to us...especially the one more year or two scenerios.

 

[Koolau]

From my perscpective the financial aspect of retiring early was the easiest part of the decison. Numbers are straighforward. Spend estimates, ROR on equities over time and inflation numbers can be estimated from a conservative perspective. Sure, you can spend your waking hours focused on them but they are constant. They are easy to understand and quantify.

The harder part...perhaps walking away and leaving a few years worth of of m money on the table. But...that may always be the case. That tinge of greed and desire to acquire that is present in most of us.

It came down to two factors for us. The first was what were our plans for retirement. Did we have any, what did they consist of.

The second was how many healthy years do we have left to enjoy an independent life and do the things we want to do. You cannot buy healthy years. Nor can you accurately predict. So it was a function of the value of those estimated healthy retirement years.

These made the financial aspects even less important to us...especially the one more year or two scenerios.

For most of us here on ER Forums, I think you are completely correct. Occasionally the financial stuff turns out to be key, but most of us here seem to enter ER with a good stake and the wind at our backs. The first four years for us were the most brutal, financially (big move to the Islands and two major condo rehabs and then, 2008) but all of this proved to us that we were STILL in good shape financially. We didn't even need to resort to our back-ups, though we were beginning to wonder a couple of times. Some things ARE more important than money - as long as you have enough money, that is.

 

[Wile E. Coyote]

Yeah, good point. As long as you have enough money you can worry about first world problems of how you feel about things. LOL!