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View Poll Results: FIRE-Monthly cost coverage sources, light bill to your track leisure suit. Ballpark %
100 % Pension or SS 44 24.72%
75+% Pension or SS + 25% Securities (includes cash account) 25 14.04%
50+% Pension or SS + 50% Securities (includes cash account) 19 10.67%
25+% Pension or SS + 75% Securities (includes cash account) 11 6.18%
<25% Pension or SS to 100% Securities (includes cash account) 18 10.11%
100% Securities 59 33.15%
Not interested in sharing. 2 1.12%
Voters: 178. You may not vote on this poll

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Old 05-30-2021, 12:12 AM   #61
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Each month is a draw. Hello savings... goodbye savings.
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Old 05-30-2021, 06:35 AM   #62
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Originally Posted by Montecfo View Post
interesting that on a site for "early"retirement 75 percent (current poll) draw pensions.

I'm 100 pct securities.
Well, it's a self selected poll, so hard to say if it is actually representative.

While I'm not currently taking pension/SS, I will in the future. So I decided not to vote, as it would seem misleading. So we don't know how many others did this as well.

A self selected poll might be fine for starting a conversation, but I really don't think there is much point in trying to draw any conclusions about the general population here.

-ERD50
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Old 05-30-2021, 01:04 PM   #63
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Quote:
Originally Posted by ERD50 View Post
Well, it's a self selected poll, so hard to say if it is actually representative.

While I'm not currently taking pension/SS, I will in the future. So I decided not to vote, as it would seem misleading. So we don't know how many others did this as well.

A self selected poll might be fine for starting a conversation, but I really don't think there is much point in trying to draw any conclusions about the general population here.

-ERD50
All true and we've self-selected in so many other ways as well. Back when I began to think about ER, I actually knew a lot more folks trying to figure how to REMAIN w*rking for as long as possible than those truly anxious to get out early. I think our average and median NWs here on the forum would also set us apart - perhaps stunningly so, if what I read in the gummint reports has any validity regarding these factors. I think from reading years of 'bios', we tend to higher levels of education as well. I infer no value judgments in any of this. I do think such things make FIRE more achievable but I have no data.

I'm not sure if any of that would explain our tendency toward having pensions or not. I'm guessing it does but once again don't have data. YMMV
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Old 05-30-2021, 01:13 PM   #64
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Originally Posted by Montecfo View Post
interesting that on a site for "early"retirement 75 percent (current poll) draw pensions.
Yes. I try to keep that in mind when reading about investment or withdrawal strategies here. The poster may very well be someone with a strategy based on having all/most expenses covered by pensions/SS while the reader may be relying 100% on FIRE portfolio generated earnings.

I'm not knocking pensions. I have one and think a lot of it! But I try to keep in mind when talking about my strategies that they are based on having a source of regular income not dependent on the current economic situation.
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Old 05-30-2021, 01:20 PM   #65
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Originally Posted by ERD50 View Post

A self selected poll might be fine for starting a conversation, but I really don't think there is much point in trying to draw any conclusions about the general population here.

-ERD50
Not sure if you are referring to OP's original intention in starting the poll, but, to me, it doesn't look like an attempt to gather a sample that could be applied to the general population by inference. I looked at it as an attempt to learn something about the members of this forum. And it does that despite the fact that, as you say, the participants are self-selected.

Actually, polls on the FIRE forum are indeed meant to start a conversation and they generally do.

It is interesting to note that a significant percentage of members (from this poll and from my general observations over the years) have pensions despite the fact that FireCalc is all about SWR's for folks retiring early "before pensions and SS!" When a member who I know has a significant pension/SS combo comments on withdrawal or investing issues I take that into consideration as I do for members who I know are living 100% off of their FIRE portfolios.

Edit: Re-reading your post and if I assume by the word "here" you mean the FIRE Forum, we're probably saying about the same thing.
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Old 05-30-2021, 01:50 PM   #66
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Age 60. 50,000 a year into “Savings” account from taxable investments. Then income from rentals, trust, dividends, capital gains and interest (taxable) go into Day to Day account as they arrive. Pay myself 5k a month from savings to Day to Day. Once SS comes in that should adjust annual sells in taxable down. Hope not to touch tax deferred for at least another 10 years.
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Old 05-30-2021, 03:20 PM   #67
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We have real estate income, which is not listed in the poll so I included it in the securities classification.
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Old 06-01-2021, 02:10 PM   #68
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Also have real estate income, so I put 100%. I have a small pension that starts at 65, and that is still quite a bit off. I presume SS is included in pension as well?
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Old 06-01-2021, 08:04 PM   #69
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100% pension plus a little over $525,000 in retirement accounts. Pensions cover all expenses with plenty left over. Been completely retired since 2017.
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Old 06-01-2021, 08:28 PM   #70
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Where do annuities fit in?
I get monthly payments for the next 7.5 years left to pull from MYGA and i also get SS. I still dont need all i get and move money back into my brokerage account or discover savings.
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Old 06-01-2021, 09:03 PM   #71
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Where do annuities fit in?
Maybe my bias would be to suggest many pensions are essentially annuities, but I don't consider annuities as pensions. Probably subtle and easily arguable - so I won't.

Heh, heh I think few of us here admit to having annuities though I've used SPDAs and MYGAs as substitute CDs for many years - I would say successfully, though I'm sure there's a camp who would disagree with the approach.

I've never actually annuitized anything (EXCEEPT my pension over which I had no control - lump sum not offered - period.) I think annuities got a bad rap when insurance companies started loading them up with all sorts of participation "rackets" (maybe that's too harsh a word). Let me rephrase to call them "high fee" ways to participate in the market while building funds (hopefully) within a vehicle which can, at some point be annuitized. And yes, I did have one of these as well - a long time before I found this forum.

I've often admitted I've made virtually every mistake possible in my investing life. Only thing I submit that I got RIGHT was saving - a lot. YMMV
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Old 06-04-2021, 03:30 PM   #72
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Old 06-04-2021, 03:32 PM   #73
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We pull $5k out of a taxable brokerage account and $5k out of an IRA every month. We won't take my Social Security for another 5 years at age 70. In addition my wife gets about $1,400 a month from her Social security and a pension now. After age 70 we will stop taking anything from the taxable account and keep taking $5k from the IRA until RMD's kick in at 72. After that we will have to withdraw considerably more and we'll just reinvest the extra in the taxable brokerage account.
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Old 06-04-2021, 03:39 PM   #74
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Missed the poll. We are on 2nd year of 5 year 72t withdrawal from my IRA. DW and I will both be 59.5 when 72t is finished, then both our IRA withdrawals until SS.

Just noticed I joined 10 years ago and this is my 1st post.
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Old 06-04-2021, 05:23 PM   #75
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Right now, it's 30% dividends, and the rest from stock sales. At age 70, it will be 30% from dividends, 30% from social security, and 70% from IRA RMDs unless I do Roth conversions. (I know that adds up to more than 100%, but those three sources will overfund my expenses, so any excess will be reinvested in taxable or gifted annually.) May purchase QLACs (qualified longevity annuity contracts) and may start QCDs (qualified charitable distributions) from IRA at 70.
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Old 06-04-2021, 06:36 PM   #76
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No pension. Not taking SS yet. Using cash from savings accounts, minimum RMD from inherited IRA. Did take some money out of traditional IRA to create more income on paper to satisfy ACA criteria last year but I’m only 64 so not an RMD.
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Old 06-04-2021, 09:32 PM   #77
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Old 06-04-2021, 09:56 PM   #78
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Originally Posted by youbet View Post
Not sure if you are referring to OP's original intention in starting the poll, but, to me, it doesn't look like an attempt to gather a sample that could be applied to the general population by inference. I looked at it as an attempt to learn something about the members of this forum. And it does that despite the fact that, as you say, the participants are self-selected.

Actually, polls on the FIRE forum are indeed meant to start a conversation and they generally do.

It is interesting to note that a significant percentage of members (from this poll and from my general observations over the years) have pensions despite the fact that FireCalc is all about SWR's for folks retiring early "before pensions and SS!" When a member who I know has a significant pension/SS combo comments on withdrawal or investing issues I take that into consideration as I do for members who I know are living 100% off of their FIRE portfolios.

Edit: Re-reading your post and if I assume by the word "here" you mean the FIRE Forum, we're probably saying about the same thing.
I'm not sure of the OP's intent, and yes, starting a conversation is fine.

I was more pointing to comments like this:

Quote:
Originally Posted by Montecfo View Post
interesting that on a site for "early"retirement 75 percent (current poll) draw pensions.
Not picking on Montecfo, just pointing out that that post comes across as accepting that 75% of the people on this site draw pensions, when what we should be saying is that 75% of the people who responded to this poll said they were drawing pensions.

It could be the same thing, maybe the self-selected poll is representative of the whole, but we really don't know and should not assume. That's all.

-ERD50
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Monthly costs
Old 06-05-2021, 08:39 AM   #79
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Monthly costs

100 % pension + wife’s job. We are saving most of wife’s income. I will draw SS at FRA to replace her income when she retires next year along with her SS
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Old 06-05-2021, 11:49 PM   #80
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Originally Posted by ERD50 View Post

While I'm not currently taking pension/SS, I will in the future. So I decided not to vote, as it would seem misleading. So we don't know how many others did this as well.



-ERD50
I didn't vote either, for the same reason as you.
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