My heart cries early retirement, my head is confused

[seraphim]

Run your initial figures through Firecalc to give yourself an idea of what might be feasible. One option includes a 100% success rate to give you a WD amount over your expected life span


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[Kauai bound]

Run your initial figures through Firecalc to give yourself an idea of what might be feasible. One option includes a 100% success rate to give you a WD amount over your expected life span


Sent from my iPad using Early Retirement Forum

I am starting to read the books recommended by our Forum site. and they are very helpful and great books. I find it strange that we have to determine our expected life span, like that is really possible. Are we saying, plan your retirement on an estimated expected life span, so we don't run out of money in case we live a long life?

 

[Sasset]

On this site most people plan for the age of 90. I guess you call this planning for the best case. Some delay SS to 70 as a hedge as well. I plan for 90 for my investments
, but I also plan to take SS at 62 as I don't want to leave SS on the table in case I don't make it that long.

 

[Kauai bound]

On this site most people plan for the age of 90. I guess you call this planning for the best case. Some delay SS to 70 as a hedge as well. I plan for 90 for my investments
, but I also plan to take SS at 62 as I don't want to leave SS on the table in case I don't make it that long.

Interesting...to plan for the age 90. I had a Grandfather and Great Grandmother who lived to 98. I guess if we outlive our projected life expectancy, we can live with our kids.

 

[gauss]

I'm planning to age 100. Also planning to delay SS until age 70.

-gauss

 

[JohnnTexas]

Hi, welcome to the site. I just joined the site recently too but have been reading the posts for several months.
I have been dreaming really hard about retirement for about a year now. My wife and I are both 49 with a net worth of $1.4M.
I figure I have about 5 yrs to work but maybe 9 when my youngest of 4 graduates college.
My biggest fear is the unknown of healthcare costs once i retire and have to py for it myself. T seems like $10k-$20k is the going rate.
I also need to drill down on a spending budget. I figure my income from 2 pensions will be about $80k plus SS when I get ready for that.
This forum hasbeenhelpful to hear from people who have actually experience the living in retirement.
Good luck to you.

 

[Kauai bound]

I'm planning to age 100. Also planning to delay SS until age 70.

-gauss

SS at 70 = 125%?

 

[Kauai bound]

Hi, welcome to the site. I just joined the site recently too but have been reading the posts for several months.
I have been dreaming really hard about retirement for about a year now. My wife and I are both 49 with a net worth of $1.4M.
I figure I have about 5 yrs to work but maybe 9 when my youngest of 4 graduates college.
My biggest fear is the unknown of healthcare costs once i retire and have to py for it myself. T seems like $10k-$20k is the going rate.
I also need to drill down on a spending budget. I figure my income from 2 pensions will be about $80k plus SS when I get ready for that.
This forum hasbeenhelpful to hear from people who have actually experience the living in retirement.
Good luck to you.

Nice post JohnnTexas! You seem very solid with your numbers. I figured that I need to work until my youngest son either graduates colleges and gets a good job, or when he turns 26...so he can remain insured under my company health insurance plan.