What have your learned from E-R.org?

[pjigar]

FireCalc
The fact that "rule of thumb" about "retirement expense = 80% income" doesn't apply to extreme LBYM people like me. This changed the whole FIRE game for us and added fuel to our FIRE plan (pun intended!)

 

[TDub]

Thanks for this thread, OP!

Discovering FIRECalc changed the game for us.

Honestly this site has completely changed my vision for what I want out of life, what our future could look like, and why I do what I do. This forum helped me see my dream. To say nothing of the encouragement, inspiration, travel ideas, lifestyle ideas, advice, reassurance, reality checks, etc etc.

Love this place! And there’s still so much left to learn.

 

[Octogirl]

I learn something new almost every week. The references to books, Kitces, FIRECal, Bogleheads, medicare info, SWR, travel, social security, WSJ articles, tax info, rental income advice, and ideas on how to "Blough that Dough"

 

[Sanstar]

That with a well moderated forum and a great set of members such as this, who would need Facebook etc!!

[emoji106] and it made quitting FB totally painless.

 

[Oz investor]

That with a well moderated forum and a great set of members such as this, who would need Facebook etc!!

+1

Facebook ( Twitter , Instagram, Linkedin ) why would i need them , i am not running for politics , or need to reinvigorate my star status

i am a retiree ( for goodness sakes )

and has a diverse set of members , excellent to provoke you thinking in new directions ...( just don't advertise it as a cure for dementia .. the paper-work is a nightmare )

 

[Katiek]

Lots of useful information, but the overall best thing I've received is just the encouragement that early retirement can happen. I'm still working, and plan to continue for a few years, but I know I'll have a hard time walking away. I can definitely see me having OMY syndrome, but hearing about people's success and the reminder that you're always leaving something on the table (either money or time), really helps me with my thinking.

 

[kaneohe]

Too many things to list or even remember.........Firecalc, SS claiming options, etc. One thing I do remember is being pointed to other forums........in particular fairmark.com (by Martha) and bogleheads.org by others. That trio
(including ER) has been extremely useful in educating me.

 

[ShokWaveRider]

Another good thing is after all these years the members seem more like friends than just cyber associations. We kind of know how they feel about subjects, and often based on their writings what their likes and dislikes are. That is kind of nice in todays dog eat dog world.

 

[ER Eddie]

Oh, goodness, lots. I started here as a financial noob. Here are some of the main things I learned about:

- How to invest money
- The advantages of index funds
- Asset allocation
- Health insurance options
- The buy & hold philosophy; Bogle
- A bit about capital gains and taxes

In addition, there were some broader themes:

- The risks of OMY (someone earlier mentioned "time>$")
- The pros and cons of ER
- Talking through my my uncertainties (e.g., losing a sense of drive) and getting valuable feedback
- Discussions of places to live, TN in particular

I'd also say that although my initial reaction to the forum was that it was far too nicey nice and restrictive in what sort of discussion it allowed, and that chafed me, I've come to appreciate over time that those tight parameters work. It produces a kind, supportive community, with minimal discord.

 

[gattara]

I agree with ER Eddie - the tight parameters work well. I'd say that it actually even brings out the best in all of us. I now wish a couple of other forums I use would bar the contentious political talk; the arguing and negativity make for a heated atmosphere, sometimes dominating the forum, and I'm tired of it. I'm using those forums less and less. The upside is I'm spending more time here!

 

[COcheesehead]

The latest tip is to look at depth of book when buying individual bonds.
Roth conversions don’t always make sense.
You can store FireCalc data.

 

[COZICAN]

That I'm not near as smart as I thought I was and that there are people on her that genuinely want to and do help. Thank you all!

and as others have said:

"That there are a whole lot of people with a whole lot more money than me."

"that if you read every post in a discussion, the group generally gives good advise in the end"

"The intricacies of the ACA and how to manage my income accordingly"

"confirmation and reinforcement that what I was doing was correct and that we were on the right track for RE"

"Time > Money"

 

[ransil]

That when you make a big salad and put it in a Tupperware bowl, it will last a lot longer if you put a paper towel on top before sealing the bowl.

Thank you to whoever wrote about that, we use that tip almost weekly.

I missed this one, thanks for a repost, gonna try it.

 

[steelyman]

Several years ago a comment was made that flipped on a light for me. I think I remember who posted it. It was something like, “Rebalancing is how you ‘buy low, sell high’”.

To me, that viewpoint is much better for a long term investor than advice like “buy the dips, sell the rips”.

 

[H2ODude]

Learned that being able to use Cobra to get me to Medicare was a beautiful gift; I have read threads on ACA and tax thresholds but have no earthly idea how that would have worked for us. That, and little need for health services is a great blessing.

On occasion I've participated in threads where some people are like me, and will actually admit that retirement is not all roses and bunny rabbits; some others will actually experience periods of boredom or restlessness. Also, not everyone is spending all available monies. I just can't help it; we can only spend money on things we see value in. The fact that others are comfortable running a 3% or less WR gives me affirmation; I'm not Scrooge McDuck. Since I actually enjoyed my career until last few years (a seemingly rare phenomenon here) we did not retire as soon as we could financially comfortably. And, that's OK!

Lastly, other than browsing Reddit on occasion, this is the only internet site that remotely resembles social media that I use. Well monitored and populated. Just a peek at comments on some news sites makes me wonder why on earth people have nothing better to do. Thanks mods!

 

[Tadpole]

Lately, how to enjoy myself in retirement.

 

[RobLJ]

I've benefited a great deal over the last 12-13 years (for a long time I was a lurker), but can list

* FireCalc and its nuances (like solving for max spending at % success)
* portfolio construction approaches
* (last 5 years) sequence of spending down different parts of portfolio
* Kitces and other retirement research-based links
* (very important) examples of success by those in somewhat similar circumstances; otherwise I might not have had the courage to semi-retire at 57 3.5 years ago
*SOR risk and success (particularly those who survived and persisted in the Great Recession)

The poster's caution for skepticism and irritation at advice that doesn't take in circumstances of post is not unjustified. However, ER is really an agora of ideas, and it's important to look at the range of those well-grounded opinions, and then decide after doing one's due diligence. I often scan a thread quickly, then go back to read 1-4 (often contradictory) posts that seem of value for consideration. My posts also probably have more frequency than value.

While I have concerns about the tax torpedo and have benefited from a variety/range of approaches, based on a variety of recent posts I've decided not to do Roth conversions and just withdraw to the top of the 12% bracket and divert unused withdrawals to a taxable brokerage account (about 75% is muni CEFs and bond/dividend CEFs). I'm not sufficiently convinced paying the higher tax rate will really be of much benefit. The posts on Social Security withdrawals, with the ranges of circumstances and opinions, have also been beneficial--and I still haven't made up my mind, other than to wait and consider early withdrawal if the market takes a shellacking.

 

[Markola]

In my daily life in The Matrix, retirement before 60 - 65 seems self destructive, self indulgent, suicidal, boring and altogether unfathomable. In the ER Forum, a collection of independent, self-directed misfits demonstrates otherwise and they make me want to join their circus and leave town.

 

[W2R]

So much!!! I wouldn't know where to start.

Thank you, everyone, so much.

 

[iloveyoga]

That there are others like me.

 

[WestUniversity]

I learned about;

FIRECalc,
Wade Pfau,
Michael Kitces
Realistic, proven, retirement planning

That Trombone Al is a great writer (read Conclusive Evidence);

That Time>Money, or at least it can be if you plan and execute poorly

About cutting the cord. We are all streaming now and are saving about $100 a month

That there are a lot of people way smarter than me...

 

[Dave in VA]

I'll admit my ignorance. What's a thermapen??

 

[steelyman]

I'll admit my ignorance. What's a thermapen??

It’s an instant read thermometer and was all the rage for a while on e-r.org. Maybe it still is all the rage but everyone’s in hiding, too busy poking things.

http://thermoworks.com

 

[Walt34]

I'll admit my ignorance. What's a thermapen??

As steelyman wrote it's an instant read thermometer that received a lot of mentions here. What he didn't write was that it's way cool (albeit pricey) and very accurate. If you sign up for their [-]spam[/-] special offers you can get it at a discount of ~$10 in colors that ended up not selling well. For example I bought one that I think is official U.S. Army Olive Drab, making it nearly impossible to find if you drop it in the grass, and another for a gift that is an ungodly shade of purple, but easy to find if dropped. Oh, and when you want to discontinue the special offers, they will stop sending them.

But hey, it's a thermometer. Who cares what color it is as long as it's accurate?

 

[omni550]

I learned (became more comfortable) that I could retire on less and still have a great life. I love the range of income/wealth on the forum. I especially love to see how people live a rewarding life on less. I guess that’s the time>money concept.

I learned that there are a number of things that are important to make good decisions on. There may not be a single correct answer, but there are better strategies than others.

I really appreciate the Other Topics section. I’ve learned a number of things that I needed advice or direction on like my computer and household repairs.

I learned Omni is a very persistent person. I still can’t believe how much time she spent on fixing her computer.

I learned it’s nice to have some virtual friends when your work buddies are no longer available to chat with on a regular basis.

Thanks for the mention, Jerry1. BTW, that computer is still performing flawlessly.

----

This forum has been my 'go to' source for so many things, I'd have a hard time listing them all. Suffice it to say, I am impressed and amazed at the community we have here --- tons of great information, helpful posters, lots of food for thought, plus the entertainment value, as well. And the forum folks I've met IRL have been delightful.

omni