Hi FIRE community,
First, I'd like to thank everyone for making this organization such a fantastic source of ideas, insight, experiences, and information.
I value the benefits of this organization so much that I have put a precondition on my nephews' and niece's university graduation gifts ($1000); they need to enroll in early-retirement.org to receive the gift!
Hopefully, they'll understand the magnitude of money in their young lives.
Okay, my FIRECalc conundrum:
I putz around with the calculator and it is staying 100% every time. I am single, no kids, no debt, have Tricare healthcare until Medicare, whatever is left will go to the aforementioned nephews and niece, I own nothing, and I live minimally.
Tab 1:
Spending: $120,000/year $10,000/month
Portfolio: $1,126,000
Years: 47 (I'm 53, financial planning to 100)
Tab 2:
SS: $20,676 @2035 age 70, I'm rounding down the SS estimate.
Pension: $75,000 (I already receive this military and VA stipend annually.
Tab 3:
Retire in 2021 @ 55 years old.
Tab 4:
Inflation 3% CPI
Constant Spending Power
Tab 5:
Total Market 70% equities 30% Bonds
Tab 6 and 7: N/A
I will probably never spend $10,000 a month, will probably live abroad somewhere cheaper than USA (Thailand, Costa Rica, etc).
I do have a 93 year old mother who will be out of money in 2 years. Us five siblings will pay for her expenses after that, if need be. This is probably (as I reflect) the only reason why I haven't FIRE'd yet.
What am I missing?
Can I pull the plug in 2 years?
I'm prepared for the 'murder board'...
Fire away!
First, I'd like to thank everyone for making this organization such a fantastic source of ideas, insight, experiences, and information.
I value the benefits of this organization so much that I have put a precondition on my nephews' and niece's university graduation gifts ($1000); they need to enroll in early-retirement.org to receive the gift!
Hopefully, they'll understand the magnitude of money in their young lives.
Okay, my FIRECalc conundrum:
I putz around with the calculator and it is staying 100% every time. I am single, no kids, no debt, have Tricare healthcare until Medicare, whatever is left will go to the aforementioned nephews and niece, I own nothing, and I live minimally.
Tab 1:
Spending: $120,000/year $10,000/month
Portfolio: $1,126,000
Years: 47 (I'm 53, financial planning to 100)
Tab 2:
SS: $20,676 @2035 age 70, I'm rounding down the SS estimate.
Pension: $75,000 (I already receive this military and VA stipend annually.
Tab 3:
Retire in 2021 @ 55 years old.
Tab 4:
Inflation 3% CPI
Constant Spending Power
Tab 5:
Total Market 70% equities 30% Bonds
Tab 6 and 7: N/A
I will probably never spend $10,000 a month, will probably live abroad somewhere cheaper than USA (Thailand, Costa Rica, etc).
I do have a 93 year old mother who will be out of money in 2 years. Us five siblings will pay for her expenses after that, if need be. This is probably (as I reflect) the only reason why I haven't FIRE'd yet.
What am I missing?
Can I pull the plug in 2 years?
I'm prepared for the 'murder board'...
Fire away!