Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 06-02-2017, 02:04 PM   #21
Recycles dryer sheets
Shabby's Avatar
 
Join Date: Sep 2012
Location: Redmond, WA
Posts: 171
Quote:
Originally Posted by Danmar View Post
>>Why do you ask?
I am super conservative and can keep working indefinitely if I wanted and saving more money. But, I balance that with wanting to enjoy my life and other passions. While everyones situation is different and nest egg is just one component, I was sorta curious if most people were more or less than this. Obviously pensions, location, lifestyle, make a big difference, I was just sorta wondering. Last thing I want to do is die at my desk still saving because it's never enough.

(I apologize for saying an actual dollar amount. If forgot that isn't cool on here)
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal
(FIRED June 2019)
Shabby 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 Early-Retirement.org 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 06-02-2017, 02:13 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Mar 2017
Location: New York City
Posts: 2,838
1.1 million on the date i retired October 19th 2008. its gone crazy since then. if it crashed and was worth 50 bucks i would be crying but my pension is more than we spend so the excess goes into our 80/20 mix. of the 80 its been 50 % small cap, 35 % sp500, 15 % international. Some how me and the bride decided this was our mix , so good or bad thats what we run with. im not smart enough to recalculate a new mix and asset allocation. We agonized over this for about a year before i retired. read articles ,listened to seminars etc. i want to add that my health care is 7 bucks a month, with a max 4000 a year out of pocket. so my health care imaginary budget is 350 a month, i knew all this before i ran out the door. i see some people talk about how many times their annual spending, mine is 72.72 times yearly expenditures. If i live to collect social security , and its the promised amount ill stop cutting food coupons. On second thought no i wont old habits die hard.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
Blue Collar Guy is offline   Reply With Quote
Old 06-02-2017, 02:15 PM   #23
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,517
Quote:
Originally Posted by Shabby View Post
I am super conservative and can keep working indefinitely if I wanted and saving more money. But, I balance that with wanting to enjoy my life and other passions. While everyones situation is different and nest egg is just one component, I was sorta curious if most people were more or less than this. Obviously pensions, location, lifestyle, make a big difference, I was just sorta wondering. Last thing I want to do is die at my desk still saving because it's never enough.

(I apologize for saying an actual dollar amount. If forgot that isn't cool on here)
While I prefer to not give my specifics your 1.5 number appears pretty solid, if your expenses are in line. Simple math leads me to 50k per year for 30 years. Even if it's invested in a CD ladder you should be able to put a dent in the ravages of inflation, if that shows up. Add in SS and see if that exceeds any expenses.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Old 06-02-2017, 02:21 PM   #24
gone traveling
 
Join Date: Apr 2011
Posts: 3,375
About 5-10% more than 5 years ago with 30x+ spend & w/o taking SS yet.
gerntz is offline   Reply With Quote
Old 06-02-2017, 02:23 PM   #25
Thinks s/he gets paid by the post
euro's Avatar
 
Join Date: Oct 2015
Posts: 1,658
Quote:
Originally Posted by Shabby View Post

(I apologize for saying an actual dollar amount. If forgot that isn't cool on here)
Shabby- no need to apologize. It's not that it is uncool to talk about a number but the point is that it's a meaningless number unless it is somehow related to the expected expenses. If your nest egg is 800k but you only expect to need 20k per year then you are ready to retire (40x). However if your nest egg is 800k and you expect to need 200k per year, then you are in trouble.
This is why most of us chose to respond with a ratio of nest egg to expenses. So, if you have 35x, that means your money will last for 35 years (assuming investment return is equal to inflation, and you won't have any other income such as social security).
euro is offline   Reply With Quote
Old 06-02-2017, 02:30 PM   #26
Thinks s/he gets paid by the post
euro's Avatar
 
Join Date: Oct 2015
Posts: 1,658
Quote:
Originally Posted by Blue Collar Guy View Post
If i live to collect social security , and its the promised amount ill stop cutting food coupons. On second thought no i wont old habits die hard.
euro is offline   Reply With Quote
Old 06-02-2017, 02:50 PM   #27
Recycles dryer sheets
Shabby's Avatar
 
Join Date: Sep 2012
Location: Redmond, WA
Posts: 171
Quote:
Originally Posted by foxfirev5 View Post
Add in SS and see if that exceeds any expenses.
That was my thoughts. Use SS as a inflation buffer.
I am just such a risk averse guy I sometime think I will sit here under these fluorescent lights at w**k forever waiting for enough so I feel safe. I'm the same guy that has felt the SP500 has been over-valued for 10 years waiting for the correction back down to a PE of 15. :-)
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal
(FIRED June 2019)
Shabby is offline   Reply With Quote
Old 06-02-2017, 02:58 PM   #28
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,517
Quote:
Originally Posted by Shabby View Post
That was my thoughts. Use SS as a inflation buffer.
I am just such a risk averse guy I sometime think I will sit here under these fluorescent lights at w**k forever waiting for enough so I feel safe. I'm the same guy that has felt the SP500 has been over-valued for 10 years waiting for the correction back down to a PE of 15. :-)
Yeah I'm a belts and suspenders type myself. However you can't put a value on each year of freedom!
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Old 06-02-2017, 03:05 PM   #29
Recycles dryer sheets
Shabby's Avatar
 
Join Date: Sep 2012
Location: Redmond, WA
Posts: 171
Quote:
Originally Posted by Sojourner View Post
I think mine was about 48x my annual expenditures
48X So if you need $75k pre tax income, you saved $3.6M??

Oh no, see this is what I was worried about. Now I am getting back to w**k and will poke my head back out when I'm 60.

(And yes, I know there are many factors that go into nest egg size. I have 12 spreadsheets all over-analyzing all the data. I just sorta wanted to see what nest eggs were around.)
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal
(FIRED June 2019)
Shabby is offline   Reply With Quote
Old 06-02-2017, 03:28 PM   #30
Thinks s/he gets paid by the post
euro's Avatar
 
Join Date: Oct 2015
Posts: 1,658
Before you panic: have you run FIREcalc? I strongly recommend it! Good for peace of mind.

Well, depending on the outcome anyway....
euro is offline   Reply With Quote
Old 06-02-2017, 03:50 PM   #31
Recycles dryer sheets
Shabby's Avatar
 
Join Date: Sep 2012
Location: Redmond, WA
Posts: 171
Quote:
Originally Posted by euro View Post
Before you panic: have you run FIREcalc?
Love Firecalc, but I find it more comforting to take my nest egg X 4% plus SS and see how things compare to my retirement budget.
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal
(FIRED June 2019)
Shabby is offline   Reply With Quote
Old 06-02-2017, 04:08 PM   #32
Thinks s/he gets paid by the post
Sojourner's Avatar
 
Join Date: Jan 2012
Posts: 1,714
Quote:
Originally Posted by Shabby View Post
48X So if you need $75k pre tax income, you saved $3.6M??

Oh no, see this is what I was worried about. Now I am getting back to w**k and will poke my head back out when I'm 60.

(And yes, I know there are many factors that go into nest egg size. I have 12 spreadsheets all over-analyzing all the data. I just sorta wanted to see what nest eggs were around.)
Well, I semi-retired in my mid 40s, and being the ultra-cautious type, I wanted to ensure that I had at least 35-40x expenses before turning my back permanently on a highly compensated job. And I ended up being helped tremendously by the huge bull market of recent years. Even if I had only had 35x expenses at the time, I still most likely would have pulled the plug.
Sojourner is offline   Reply With Quote
Old 06-02-2017, 04:17 PM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Teacher Terry's Avatar
 
Join Date: Jun 2014
Posts: 5,428
1.5 including pensions
Teacher Terry is offline   Reply With Quote
Old 06-02-2017, 04:20 PM   #34
Recycles dryer sheets
Shabby's Avatar
 
Join Date: Sep 2012
Location: Redmond, WA
Posts: 171
Quote:
Originally Posted by euro View Post
This is why most of us chose to respond with a ratio of nest egg to expenses.
Yes, expenses are a huge factor, but with me there isn't much with paid off house, car, no debt, no kids, no wife. So....while I have $80k a year in "expenses", that could also be $40k. So the whole XExpenses thing is a bit lost on me.
__________________
Shabby
- Live below your means
- Stay out of debt
- Save all you can
- Buy used cars
- Focus on your end goal
(FIRED June 2019)
Shabby is offline   Reply With Quote
Old 06-02-2017, 04:29 PM   #35
Full time employment: Posting here.
FlaGator's Avatar
 
Join Date: Aug 2008
Location: The 850
Posts: 723
Mine's bigger

Was going to leave it at that, but it's not relevant as has been pointed out - I think what you're looking for is validation that you're not about to do something stupid.

When firecalc, Quicken Lifetime Planner, my FAs analysis and my own straight line math (portfolio x/y years) all boxed, I pulled the trigger.

Ensure your spending estimates are accurate and complete (health insurance was the biggest surprise for me) and you have some idea where you could adjust if things start moving our of your planning corridor.

I understand the idea of getting to freedom earlier, but doing so if one would be unnaturally anxious about how it will turn out wouldn't be worth it to me.
__________________
Stay at home slacker dad since 2015
FlaGator is online now   Reply With Quote
Old 06-02-2017, 04:36 PM   #36
Thinks s/he gets paid by the post
 
Join Date: Sep 2013
Location: Ventura County
Posts: 1,281
Quote:
Originally Posted by Shabby View Post
Yes, expenses are a huge factor, but with me there isn't much with paid off house, car, no debt, no kids, no wife. So....while I have $80k a year in "expenses", that could also be $40k. So the whole XExpenses thing is a bit lost on me.
Well you need to use some number for projected expenses. If you think you need $80K to be comfortable then so be it, and plan accordingly. If you really think you could be comfortable with 40, though, you might work a lot of extra years you don't really need to.

In practice I think most of us started with a target expense figure and then padded it a bit for a sense of security. For example I believed I needed about $45K to retire comfortably, but used $65K in my calculations (and looked for a 100% success rate) out of an abundance of caution. I thought this 40+% pad was plenty, but everyone has a different comfort zone. If you really want a 100% pad (using $80K when $40 is enough) then just be sure that extra security is worth the extra working years you'll pay for it.
stepford is offline   Reply With Quote
Old 06-02-2017, 04:44 PM   #37
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Location: Nashville
Posts: 2,138
Quote:
Originally Posted by Shabby View Post
I am super conservative and can keep working indefinitely if I wanted and saving more money. But, I balance that with wanting to enjoy my life and other passions. While everyones situation is different and nest egg is just one component, I was sorta curious if most people were more or less than this. Obviously pensions, location, lifestyle, make a big difference, I was just sorta wondering. Last thing I want to do is die at my desk still saving because it's never enough.

...
Quote:
Originally Posted by Shabby View Post
48X So if you need $75k pre tax income, you saved $3.6M??

Oh no, see this is what I was worried about. Now I am getting back to w**k and will poke my head back out when I'm 60.
...
The problem in comparing is there are so many variables. I answered upthread, but didn't get into variables that likely make my situation irrelevant to you. We have two pretty high paying jobs/professions and work a lot of hours. Thus, we play to spend on a whole bunch of discretionary experiences after we retire next month (a bit more than 50% of our anticipated spending, which gives us a lot of wiggle room). No pensions, no retiree healthcare, and in a state with nearly-non-functioning private health insurance market.

Plus, we didn't give notice until we had a big enough pile--and it was 2+ years notice to allow my wife's replacement to be on board. The market performance during the period of notice inflated the portfolio ....
__________________
OMY * 3 2ish Done 7.28.17
2017ish is offline   Reply With Quote
Old 06-02-2017, 04:52 PM   #38
Thinks s/he gets paid by the post
frayne's Avatar
 
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,294
No debt and seven figures.
__________________
"The only function of economic forecasting is to make astrology look respectable. Ezra Solomon
frayne is offline   Reply With Quote
Old 06-02-2017, 05:02 PM   #39
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 22,795
Quote:
Originally Posted by evilanne View Post
How do you determine the value of your pension?
https://www.immediateannuities.com/

We retired with ~$200k in savings/investments, but a well-funded COLA'd pension that according to the link above has a current value of many, many millions. I don't know exactly because the max amount invested on that site is $5 million and the resulting annuity is considerably less than the pension.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 06-02-2017, 05:17 PM   #40
Gone but not forgotten
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,335
Quote:
How big was your nest egg when you FIRE'd?
Wel... it was in 1989, and my answer would probably be... enough.
imoldernu is offline   Reply With Quote
Reply


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
Do You Include the amount of your Nest Egg in your estimated four % rate of return? nico08 FIRE and Money 22 07-07-2013 04:20 PM
Do you think that you owe your kids a good nest egg? swampwiz FIRE and Money 108 07-31-2011 07:15 PM
Are you concerned that your nest egg will cause you to get means tested out of SS? swampwiz FIRE and Money 138 02-12-2011 11:52 AM
Protecting Your Nest Egg from the Vultures? ShokWaveRider FIRE and Money 62 11-14-2007 01:49 PM
How To Tap Your Nest Egg & Not Go Broke REWahoo FIRE and Money 4 07-16-2005 08:51 AM

» Quick Links

 
All times are GMT -6. The time now is 11:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.