Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Newbie in Princeton and feeling clueless
Old 01-09-2008, 09:44 AM   #1
Confused about dryer sheets
Join Date: Jan 2008
Posts: 2
Newbie in Princeton and feeling clueless

- but delighted to be retired at 62.5. Combination of rental income, drawing from retirement stash at 4% (that's the conventional wisdom, right? - that taking 4% will never deplete my base of $250K?), and Soc. Sec. - total sabout $37,800/yr - and a lot of my greatest pleasures are free or really inexpensive, so I'm set until I acquire an expensive hobby. Have a $13K credit card debt at 0%, and plan to pay it off this year. Another $10K in a 5% money market for emergencies.

Not sure whether the above plan will work for the forseeable future, but this is the year to try it out. Got any opinions, advice to offer?

I'm really blessed by living with two housemates (very cool women in their mid-thirties); they help pay the mortgage and provide good company and sane feedback, including dating and fashion tips. One of them has been on the ERF for a while now, so here I am.


"If your knees aren't green by the end of the day, you need to seriously re-examine your life." - Bill Watterson
BallGowns2BlueJeans is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-09-2008, 09:50 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 48,217
Originally Posted by BallGowns2BlueJeans View Post
Not sure whether the above plan will work for the forseeable future, but this is the year to try it out. Got any opinions, advice to offer?
BG2BJ, Welcome to the forum. The only advice I'd offer is to run your numbers through FIRECalc. This should offer you some good feedback on whether or not your plan will work.
Numbers is hard

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-09-2008, 09:52 AM   #3
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,015
Hi, BallGowns2BlueJeans (Love that! Was true for me also!) --

Welcome to the board! Have you tried running your figures thru FIREcalc to see how you'll fare? Also, what are your expenses and have you figured in what you might have to spend on health care -- a pretty big number for many on this board?

I'm sure many others will be along shortly to add their words of welcome/wisdom; in the meantime, look around at the board...there's lots of really good stuff here! (And, some really interesting folks too.)
Achiever51 is offline   Reply With Quote
Thanks for the quick and warm welcome, folks!
Old 01-09-2008, 10:01 AM   #4
Confused about dryer sheets
Join Date: Jan 2008
Posts: 2
Thanks for the quick and warm welcome, folks!

It's good to hear from you so soon. Later - - -
BallGowns2BlueJeans is offline   Reply With Quote
Old 01-09-2008, 10:03 AM   #5
Full time employment: Posting here.
tightasadrum's Avatar
Join Date: Aug 2006
Location: athens
Posts: 802
Welcome BG2BJ,
The foreseeable future is really not the issue, but 20-30 years out IS. First a couple of things:

1. Have you run the FIRE calculator?
2. Will that $37,800 cover your expenses and by how much?
3. What about the ugly elephant in the room: health care insurance? Are you covered for now?
4. Is your real estate income from your two housemates, or is that a separate property with it's associated tax advantages?

Lots of questions, but curious. Your $200K+ retirement stash is nice, but whether it is enough depends entirely on how it's invested and, more importantly, how much you spend. I couldn't retire with it because of my fixed costs, but everyone is different.

Again, welcome! Oh, were you associated with PU?
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
tightasadrum is offline   Reply With Quote
Old 01-09-2008, 10:14 AM   #6
Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
Welcome ,
Princeton is a beautiful area .I lived in Morris County N.J. for many years.
Moemg is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gift Ideas for Clueless Aunts Sarah in SC Other topics 3 11-09-2007 01:24 PM
Am I Clueless? Vincenzo Corleone FIRE and Money 5 10-29-2007 04:27 PM
Once More, With Feeling brewer12345 Active Investing, Market Strategies & Alternative Assets 20 10-03-2007 06:05 AM
Wow - the Duke "Rape" Prosecutor is Even More Clueless than We Realized Craig Other topics 17 10-29-2006 07:28 AM
Too clueless to recognize they're clueless... Nords Other topics 7 07-20-2005 05:51 PM

» Quick Links

All times are GMT -6. The time now is 10:54 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.