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Old 05-12-2021, 09:58 AM   #81
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I am still working on reducing my online shopping spree that I developed since the pandemic started.
We've found just the opposite. Since we are doing a lot more shopping online, it has eliminated browsing and impulse buying. We get just what we need and nothing else. I hope my wife keeps doing her Target orders online permanently .
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Old 05-12-2021, 04:53 PM   #82
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We needed $1.4M for a comfortable retirement ($25k/ year of pure discretionary spending). Planned to retire at that number, but my separation package and good returns put us @ $2.1M @ retirement (12 Mar 2021 @ age 55). The buffer is nice, but we were willing to retire with the lower amount. I was done with work.
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Old 05-14-2021, 11:37 AM   #83
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Define buffer please.
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Old 05-14-2021, 04:32 PM   #84
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When I retired I found it hard to have any confidence in an arbitrary safety factor, so I used Monte Carlo and Social Security simulators to model a range of possibilities. Performing this “what if” analysis allowed me to plan what I would do if various things happened and gave me good confidence that we’d be fine in retirement.
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Old 05-14-2021, 11:02 PM   #85
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When I retired I found it hard to have any confidence in an arbitrary safety factor, so I used Monte Carlo and Social Security simulators to model a range of possibilities. Performing this “what if” analysis allowed me to plan what I would do if various things happened and gave me good confidence that we’d be fine in retirement.
I guess I wasn't knowledgable enough to use much "analysis" so skipped right to the "what ifs." From there, I went to what I called the "back up plans." These added an incredible layer of comfort to my final decision (even in light of my buffer of "over saving.") Heh, heh, not ONE of my backups included going back to w*rk. Can you imagine? (I'm sure most here CAN but YMMV.)
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Old 05-15-2021, 04:47 AM   #86
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I'm always the odd man out. Unfortunately after losing 3 significant people in my life( husband, baby brother and sister) over a 3 year span and all before they were 55 I recognized that working for a magical number was not what I wanted to do.
Now I have a pension and retiree health care that is extremely affordable (as in 50 bucks a month) so l guess I consider that my buffer.

I retired full time with one year living expenses buffer. The last 8 years in the market have given me a nice padding though.

I'm spending a chunk of it on home remodeling and vacations next year.

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How much of a buffer did you have before ER?
Old 05-15-2021, 06:07 AM   #87
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How much of a buffer did you have before ER?

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Having a buffer in the number depends on the on one's "spending latitude".



If the $40k spending is a "hard minimum", then there's a 5% chance of running out of money.



If the spending can be adjusted downward if there's a down market after ER - then that's your "buffer"

+1. The way our Vanguard PAS (AUM) “Dynamic Spending” program works is, we trust the numbers. In up years for our portfolio, we are advised we can spend up to 5% more than the prior year. In down years, we are advised we should spend no more than 2.5% less than the prior year. So if we have a couple of very bad years in a row, our spending will fall up to 5%.

We can handle that. In fact, we haven’t been needing the extra 5% more each year in this bull, so more buffer is being larded up.
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Old 05-15-2021, 10:39 AM   #88
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We had quite a significant buffer - otherwise referred to as DSs' and DDs' (potential) inheritance.
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Old 05-15-2021, 02:00 PM   #89
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We had quite a significant buffer - otherwise referred to as DSs' and DDs' (potential) inheritance.
I always loved that bumper sticker. "We're Spending Our Children's Inheritance." Even though I'd just about bet money that folks displaying that sticker were NOT doing so, the sentiment was appropriate. Until you die it's YOUR money! Use it the way you want to. YMMV
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