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Old 05-01-2017, 12:35 PM   #61
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1) We enjoy accumulating wealth, and resist seeing it being spent and watching the balance decline after so many years of seeing it grow.

We're trying, but we travel as much as we care to, and splurging at restaurants entails calories we don't need! Trading in a 2 or 5 yo car with 15 or 35k miles just seems...um....dumb? May move to beach but family locations being unknown makes that dubious at this point.

I thought the other day about starting a thread with a similar theme. At 60 we were happy at 2.3% WR. Gradually got it to 3 when 64. At 65 got a $800 a month raise courtesy of Medicare. At 66 we just started on DW SS and me taking based on hers (saving my higher for 70), another 1300 even after they took out for Medicare. So it got me to thinking about how we got here and where we're going at this rate?

Went back and found the Fidelity RIP planner output I did when retired at 60. It showed that now (which yes is worst case) we would have ~2/3 of what we started with using their method. Nope. We now have 1-1/3 of what we had 6 years ago. We take out monthly from the portfolio 3% and every month it just accumulates in our credit union account. Finally returned a BiG chunk just because it seemed dumb not to and we'll be more than able to cover the trips we've got coming from monthly draw coming up. If we HAD done 4% the difference in where we are today wouldn't have been that great, heck, simplistically it'd be about a 6% difference in the total.

I think that you can fixate on these calculators and forget that they generally focus on worst case avoidance. Well guess what? Each year you avoid worst case maybe you should adjust if you care to. Heck, if you can adjust up you can certainly readjust down if need be later when things go south. Or just relax and forget about worrying so much about it. Just learn to enjoy your good fortune...and for God's sake enjoy your good health while ya got it. THAT certainly won't last forever.

As someone said, first world problems. I'm OK with it.
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Old 05-01-2017, 01:31 PM   #62
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There are many homeless people where we live. We will go into the city for a foodie benefit with all you can eat food sampling and wine tasting and then pass by homeless people sleeping in the BART station. Or we will pass by wine bars in the trendy South of Market area packed with millennials with homeless people out on the street outside.

We plan to live pretty well on a low withdrawal rate - nice house, good value cars and go out often. I don't think it is a tragedy to be careful with our money and have a nice sum leftover to leave it to our adult kids, especially since housing is pretty crazy here, and charities that help people who have nothing.
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Old 05-01-2017, 03:16 PM   #63
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Glad to see the last post mention charity. I turn 54 and retired over 2 months ago. My wife will join me on my ER adventure on Memorial Day weekend when she leaves her job. While we're still figuring out a monthly spending and withdrawal rhythm, we're probably going to come in something around 3%, maybe a bit less. We're traveling more than ever, eating out more, giving more substantially. But we're frugal by nature, and are actively getting rid of physical possessions as we look forward to downsizing to a smaller home in the next couple of years. We just don't need more stuff, no matter our asset levels. We value experiences much more highly.

What I'm hoping is that, once I get in my mid to late 60s (and get ready for SS at age 70), I'll have a much more accurate idea of how we're looking for the rest of our lives. I have no desire to spend every dollar we have, and even less desire to give the bulk of our assets to our kids. What would give me great joy is to establish a foundation or scholarship fund that wouldn't change the world, but might change a few people's lives for the better on an ongoing basis, even after my wife and I have passed.

While I no doubt give more concern about our assets and spending than I need to, focusing on these areas will, in the long run, give us the option of doing something great and lasting with our investments.
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