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05-12-2021, 09:58 AM
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#81
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Thinks s/he gets paid by the post
Join Date: Feb 2021
Posts: 2,328
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Quote:
Originally Posted by teetee
I am still working on reducing my online shopping spree that I developed since the pandemic started.
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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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05-12-2021, 04:53 PM
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#82
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Thinks s/he gets paid by the post
Join Date: Aug 2015
Posts: 1,890
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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.
__________________
Consistently sets low goals and fails to achieve them.
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05-14-2021, 11:37 AM
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#83
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,671
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Define buffer please.
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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05-14-2021, 04:32 PM
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#84
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Recycles dryer sheets
Join Date: Feb 2014
Location: Austin
Posts: 246
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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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05-14-2021, 11:02 PM
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#85
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,794
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Quote:
Originally Posted by Navigator
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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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.)
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-15-2021, 04:47 AM
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#86
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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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.
Never stressed about it
__________________
My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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How much of a buffer did you have before ER?
05-15-2021, 06:07 AM
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#87
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Twin Cities
Posts: 3,927
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How much of a buffer did you have before ER?
Quote:
Originally Posted by Delawaredave5
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"
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+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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05-15-2021, 10:39 AM
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#88
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,320
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We had quite a significant buffer - otherwise referred to as DSs' and DDs' (potential) inheritance.
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05-15-2021, 02:00 PM
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#89
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,794
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Quote:
Originally Posted by 6miths
We had quite a significant buffer - otherwise referred to as DSs' and DDs' (potential) inheritance.
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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
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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