Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-09-2021, 03:51 PM   #81
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 32,249
The number that I used is the most widely quoted number... I just saw the same number quoted in a Wall Street journal article that I was reading about an hour ago that made me think of you.

But if you want to pick a number that fits your story by all means go ahead.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-09-2021, 04:19 PM   #82
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 10,990
Quote:
Originally Posted by pb4uski View Post
The number that I used is the most widely quoted number... I just saw the same number quoted in a Wall Street journal article that I was reading about an hour ago that made me think of you.

But if you want to pick a number that fits your story by all means go ahead.
I'm guessing if we held a poll here, we'd find a goodly number of folks who think the CPI numbers are at best wrong - AKA "low" and more likely, self serving. I doubt we'd find anyone who would vote for them being "high."

SO, since I have a vested interest in MY number ($120K in I-bonds), I think it's reasonable to "pick" that number - especially since we have a whole thread on it and it was, therefore top-of-mind, unlike the CPI. Oh, and again, it's the one that actually costs the gummint money - not saves the gummint money like using the CPI-W for SS increases IIRC.

Maybe I shouldn't have used the term "official" as that implies there is only ONE official number. There are actually quite a few "official" numbers (including many CPI numbers AND the official number used to calculate I-bonds.) So clearly, that was not correct on my part - so on THAT basis, I stand corrected. Enjoy. As always, YMMV.
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Old 05-09-2021, 05:02 PM   #83
Thinks s/he gets paid by the post
skyking1's Avatar
 
Join Date: Feb 2021
Location: Puget Sound
Posts: 1,999
I figure SS at 100% until after 2034, and by then if it gets a haircut or nor we are OK because using it will reduce our WR for 5 years. That is the haircut that matters IMO. 5 years does not seem like much but when you zero out your WR for 1/6th of a retirement, it alters the outcome considerably.
__________________
Class of 2023
skyking1 is offline   Reply With Quote
Old 05-11-2021, 01:41 PM   #84
Recycles dryer sheets
 
Join Date: Feb 2021
Posts: 150
Quote:
Originally Posted by Dtail View Post
I still believe that the SS program will be shored up in the end. Perhaps they will raise the tax rates on the various portions.
Not to include SS at all in a retirement calculation appears to be too severe.
I feel the same way. At least for anyone 50+

They will likely muck with some of the details, like the full retrirement age being pushed back (supposedly only to adjust for extended life expectancy) but I also expect any changes to have a time horizon of at least 20 years. you can't piss off current pre-retirees or early retirees too bad in this political climate.
Unless I'm mistaken the slow increase in full retirement age was instituted in the 1980s for example.

Rather than consider SS as "gravy" I'm looking at the extra income from my portfolio as gravy (well, some meat too since I don't want to live on SS alone). I love gravy and intend to bathe in it every day when I'm retired.
BlueberryPie is offline   Reply With Quote
Old 05-11-2021, 02:24 PM   #85
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 10,990
Quote:
Originally Posted by BlueberryPie View Post
I feel the same way. At least for anyone 50+

They will likely muck with some of the details, like the full retrirement age being pushed back (supposedly only to adjust for extended life expectancy) but I also expect any changes to have a time horizon of at least 20 years. you can't piss off current pre-retirees or early retirees too bad in this political climate.
Unless I'm mistaken the slow increase in full retirement age was instituted in the 1980s for example.

Rather than consider SS as "gravy" I'm looking at the extra income from my portfolio as gravy (well, some meat too since I don't want to live on SS alone). I love gravy and intend to bathe in it every day when I'm retired.
Come on in. The "gravy" is fine!
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
ACA income planning Social Security first year Born2Fish FIRE and Money 1 10-23-2020 09:15 AM
Started Social Social Security at age 62 but my break even date is well into my 80s Retired and Restless FIRE and Money 96 12-24-2016 12:49 PM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 02:51 PM
Social Security statements after FIRE Nords FIRE and Money 13 08-09-2005 12:38 PM
Planning on Social Security? patnbj FIRE and Money 27 03-31-2004 06:28 PM

» Quick Links

 
All times are GMT -6. The time now is 07:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.