Blogger Joe Udo says 25x expenses not enough for early-retirees

[Mulligan]

Quote:

Originally Posted by ExFlyBoy5 This is my Dad. He has assets that he will most likely never spend down. He still banks some of his SS check and I don't think he's EVER touched anything from his investments outside of the RMDs. He just WILL NOT SPEND IT. I *finally* convinced him to let a commercial company clean off the roof and gutters every few months after I had an "incident" and refused to do it anymore. I think he seriously considered doing it himself instead (he's 89 years old!) before finally relenting. As an extra safe measure, I have padlocked the ladder to the fence to make it almost impossible to use it. It's just how he's wired and it will never change. Also, all the great opinions on the bloggers and the meaning of being retired has convinced me that I will NEVER have a blog (retirement related, anyway!) Since I do have a rental property, I am sure the internet police would point out that I am not *really* retired!

That is so funny as that happened to me this summer. I had to clean my dads house because if I wasnt he was going to do it by getting on a ladder put on truck bed to reach all areas. I got that done, but when I got home mine needed cleaned also. I paid a cleaning person $180 to do mine. Come to think of it, I paid him cash and I never asked for or got a receipt. Wanna bet Uncle Sam isn't getting his fair share of that, ha!

[Major Tom]

Quote:

Originally Posted by ExFlyBoy5 Also, all the great opinions on the bloggers and the meaning of being retired has convinced me that I will NEVER have a blog (retirement related, anyway!) Since I do have a rental property, I am sure the internet police would point out that I am not *really* retired!

As long as you make a good faith attempt to represent yourself honestly, to be authentic in your presentation, and not to be overly dramatic, I don't think you'd have many problems. There are forum members here with successful blogs, who receive little or no flak. I wonder why? Perhaps they're just being honest.

On the other hand, if you want to make lots of money from your blog, then be outspoken, make sure your site contains much braggadocio, and develop a thick skin. The choice is ours

[Helena]

Quote:

Originally Posted by ExFlyBoy5 This is my Dad. He has assets that he will most likely never spend down. He still banks some of his SS check and I don't think he's EVER touched anything from his investments outside of the RMDs. He just WILL NOT SPEND IT.

I'm not looking forward to the RMD. I like controlling my own finances.

The government will force me to withdraw more than I need.

More than that... there is a draconian IRS penalty if one doesn't withdraw the right amount [especially a burden for the elderly.]

I have always done my own taxes [which were relatively simple]... but I will probably need professional help [in more ways than one] once I'm subject to the RMD mandate.

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