Poll:In broad strokes...

[sengsational]

I answered wrong: SWR. Wrong because I didn't read the instructions until after: what I've done so far vs what I plan to do. I've been restricted by keeping income low, so not keeping up with what I "should be spending" or "could be spending".

 

[Splash]

Picked Scottish Style

Similar to OP, my plan was SWR but the reality is we're spending less on average per year than planned and our investments are doing better than planned so our portfolio continues to grow and we haven't even started to draw SS or pensions.

 

[RetireeRobert]

My hope was to have spending power stay intact. The reality is my net worth and income have grown to their highest levels in my entire life.

 

[FIREd]

I have no heirs, so the goal is to spend as much of it as possible.

 

[RobbieB]

I'm up 25% since I retired and I've blowin' dough like a drunken sailor. And I still need to buy that boat!

 

[Koolau]

I'm up 25% since I retired and I've blowin' dough like a drunken sailor. And I still need to buy that boat!

Yes. Think of the money you will save on buying fish.

 

[imnontrad]

The activities I mainly like to do are little/no cost. So although I retired at 62 more than 3 years ago, I have not needed to tap any of my retirement funds. but I think I will finally do the whole home renovation I want - but it would still be will within a 4% withdrawal rate.

 

[RockLife]

It seems to me that Scottish style is popular because the markets have been so kind in the last few years. I retired 4 years ago and my net worth is up 20% plus after having lived in the Caribbean for years and returned to the states, and buying a car, beach house, and everything in it. I have not been spendy (until the house) but I put this success mostly on the markets.

 

[meleana]

Not retired long and I don’t like thinking about it.

 

[Katsmeow]

Nothing really applies. We knew going in that during the early years we would be spending a fair amount of our starting portfolio (kids still in school, etc). We don't plan to bounce the check to the underwriter or to go to zero. Certainly, we could not sustain long term what we spent the first few years. But, we never intended to. Just this year we are at a point where he are at where we expect to be from now on but don't have historical information on this. We plan to monitor each year and make adjustments. We don't particularly want to grow our portfolio but our intent right now would be maintain it to keep the same spending over time.

 

[Retired Expat]

Bad poll

I find the options too limited so i will likewise pass. How about planning to spend down portfolio but not to zero, or where I started (what does that have to do with the future? My goal is to, Maintain enough to sustain another 10 years of life for me or my spouse, and/or a cushion for advanced care, but likely would never spend....

 

[WWDog]

We don't do without but save a good portion of our retirement income. The children are going to have a difficult time considering the looming financial storm. They will have the capability to survive because we can make it so. If they choose to squander it, then they will pay the price. If they don't, then they will be among the survivors.

 

[audreyh1]

I find the options too limited so i will likewise pass. How about planning to spend down portfolio but not to zero, or where I started (what does that have to do with the future? My goal is to, Maintain enough to sustain another 10 years of life for me or my spouse, and/or a cushion for advanced care, but likely would never spend....

That’s been my approach. I’ve looked at the statistics for % remaining portfolio, and using FIREcalc you can look at ending portfolio values for given AA and withdrawal rate. I’m quite comfortable going down to 1/2 starting portfolio (real) worst case and starting portfolio average case. That’s perhaps a larger cushion than needed, but you never know what might happen late in life and I want flexibility. We’re not drawing down hard enough to even meet that criteria yet, but I have no problem with drawing down more aggressively as needs arrive.

 

[Koolau]

That’s been my approach. I’ve looked at the statistics for % remaining portfolio, and using FIREcalc you can look at ending portfolio values for given AA and withdrawal rate. I’m quite comfortable going down to 1/2 starting portfolio (real) worst case and starting portfolio average case. That’s perhaps a larger cushion than needed, but you never know what might happen late in life and I want flexibility. We’re not drawing down hard enough to even meet that criteria yet, but I have no problem with drawing down more aggressively as needs arrive.

Actually the concept of ending up with less at the end of a given year used to bother me. Of late, it's begun to bother me that we always end up with more - as in more to "get rid of" before we die. Now, we are attempting to arrange to give to our favorite charities upon our (last) death. That will make me happy with still accumulating an excess. YMMV

 

[GravitySucks]

Though I still plan on reaching the end with a bit less than I started with, the market over the last 8 years has thrown me into Scottish territory.

 

[karen1972]

I have a minimum floor that I'd like to stay above until I hit SS which I dont' think fits into any of the categories and since I do indeed enjoy Bacon, that was my choice.

Once SS/Medicare kick in, the numbers change drastically and we wish to spend to near zero... however since who knows in 15-20 years what will happen to those 2 programs, I'm sticking with it doesn't have to necessarily grow, it just can't dip below my minimum.

We got within 20% of that minimum during the COVID dip and we planned to go into necessity only spending mode.

Our spending is closer to a VPW model.

 

[marko]

Just an observation:
Most posters on this thread (myself included) claim a net increase over the years; some quite impressively so.

Might this answer the question on "inflation worries" thread a few weeks back? I'd presume that having 2-3X more than you started with 10-20 years ago--despite hefty withdrawals--would easily mitigate whatever inflation impact we might see ahead.

 

[nwsteve]

When in doubt, bacon and out...

+1
Choice I wanted was "Live the good life" with enough care that eating cat food at the end was never possible
Will take Bus Class air but not charter jet. Good Wine but no $100 bottles. ;-)

 

[OldShooter]

... I'd presume that having 2-3X more than you started with 10-20 years ago--despite hefty withdrawals--would easily mitigate whatever inflation impact we might see ahead.

Do you know someone who can see ahead? Take a look at the late 70s, early 80s. One of our human characteristics is a strong recency bias when making predictions.

 

[SecondCor521]

Just an observation:
Most posters on this thread (myself included) claim a net increase over the years; some quite impressively so.

Might this answer the question on "inflation worries" thread a few weeks back? I'd presume that having 2-3X more than you started with 10-20 years ago--despite hefty withdrawals--would easily mitigate whatever inflation impact we might see ahead.

It probably addresses "typical" and even "high" inflation for a while. Some worry about hyperinflation, which 2-3X would mitigate for a day or two.

 

[marko]

Do you know someone who can see ahead? Take a look at the late 70s, early 80s. One of our human characteristics is a strong recency bias when making predictions.

What I meant was if inflation suddenly made costs go up notably, that those of us who've gained so much should be able to absorb the extra prices by drawing a bit more from our portfolios.

When I started ER, I would've been happy by now (16 years later) to have broken even with my starting point. Instead I'm up almost 3X despite a 5%+ WR.

If inflation increased my expenses, I'd feel comfortable with drawing more knowing that 1) I've gained more than I thought I would and 2) I have fewer years to worry about it, even with a somewhat smaller return.