fisherman
Full time employment: Posting here.
- Joined
- Jul 7, 2007
- Messages
- 500
Just curious what Withdrawal Rate ER folks are using before their pension if applicable and social security starts. The reason I am asking the question and my details follow:
I ESR'd back in 2007 with a plan to work part time. My business went well and fortunately / unfortunately grew to produce more than we needed each year so technically I failed at ESR for the last seven years since our WR was negative. I did manage to keep the work to an average of 18hrs per week but concentrated to the colder months during the school year so that I was free whenever the kids were out of school. I just turned 50 and have had enough again. It in many ways is what I always wanted out of work but I am ready to be free of w*rk. I hope to find my customers someone else within the next year and fully ER within a year or so allowing more time for the volunter gigs we have started.
We can definitely get by on 4% at that point as the budget has lots of padding. At 55 our pensions kick in and that would drop the WR a good bit. If we take SS at 62 our projected WR with the pensions will be about 1% going forward.
We have two homes now both paid for and expenses accounted for in the budget. I have tracked all expenses for the last 28 years so I am very comfortable in our budget estimates. We do plan to downsize to one home in the next ten years and that would drop our WR to .5% or less once SS starts.
So back to my questions is 4% for four years then much less a safe withdrawal rate for a planned 44 year retirement? That puts us to 95 years old.
I ESR'd back in 2007 with a plan to work part time. My business went well and fortunately / unfortunately grew to produce more than we needed each year so technically I failed at ESR for the last seven years since our WR was negative. I did manage to keep the work to an average of 18hrs per week but concentrated to the colder months during the school year so that I was free whenever the kids were out of school. I just turned 50 and have had enough again. It in many ways is what I always wanted out of work but I am ready to be free of w*rk. I hope to find my customers someone else within the next year and fully ER within a year or so allowing more time for the volunter gigs we have started.
We can definitely get by on 4% at that point as the budget has lots of padding. At 55 our pensions kick in and that would drop the WR a good bit. If we take SS at 62 our projected WR with the pensions will be about 1% going forward.
We have two homes now both paid for and expenses accounted for in the budget. I have tracked all expenses for the last 28 years so I am very comfortable in our budget estimates. We do plan to downsize to one home in the next ten years and that would drop our WR to .5% or less once SS starts.
So back to my questions is 4% for four years then much less a safe withdrawal rate for a planned 44 year retirement? That puts us to 95 years old.