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Old 10-30-2020, 05:40 PM   #81
Recycles dryer sheets
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Blanche Dubois may "have always depended on the kindness of strangers." But that is not the life for me.

Nor I. That rug could always get pulled out from underneath you partially as more and more people climb into that boat, or even completely.
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Old 10-30-2020, 05:50 PM   #82
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Originally Posted by ychuck46 View Post
Blanche Dubois may "have always depended on the kindness of strangers." But that is not the life for me.

Nor I. That rug could always get pulled out from underneath you partially as more and more people climb into that boat, or even completely.
Amen. When the gubmint provides for you, you better not be too choosy. And really, it should be that way- if everyone got a first-class free ride at taxpayer expense there'd be no incentive to take personal responsibility for saving for retirement.
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Old 10-31-2020, 04:58 AM   #83
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Originally Posted by Golden sunsets View Post
Dawgman; If you had it to do over again would you really do things differently? I think not. I think you love the belt and suspenders position you are in. I think you loved your business and had no reason to cut the cord sooner. I think you've led the life you wanted too, with very little if any deprivation and still managed to pile up a bundle. Good for you.

I say this because that is exactly what we did. Heck our withdrawal rate has never even approached 1% and probably never will. I recognize your mindset and through your posts over the last few years know that you spend a bundle and can continue to in your retirement. I don't know why you are second guessing your path to wealth.
No second guessing, just an observation. Consciously or subconsciously I think I played my accumulation hand so conservatively, always assuming the worst case "what if" scenarios, to make sure I had the nut I thought I needed/wanted once retiring. As mentioned, once I started looking at the real-time year by year withdrawal strategies, it became apparent I overshot what I thought I really needed. In my case, the little tax impact in having 1/2 of my investments in after tax accounts is what really moved the needle. Would I really have changed anything had I really understood (or chose to understand) the math earlier... probably not.
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Old 11-02-2020, 10:47 AM   #84
Recycles dryer sheets
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Originally Posted by DawgMan View Post
I can't be all alone here. Like most on this site (I would assume), long time big % saver, always LBYMs, "relative" frugality in my genes, worked the plan with an designed exit at 55 (when kid 4 was out of the nest/independent). I moved the goal posts many times as I dialed in my desired retirement spend (FatFire growing by inflation annually), ran (what now appears to be ridiculously) conservative assumptions (i.e. no SS, all my withdrawals taxable as income despites having 50% in after tax accounts). Fast forward to today, I'm 56, decided on a phase out (still earning income mainly because my biz is still very lucrative even on a very part time/Covid world basis and I need to fill some idle time). None the less, I have started running real calculators that take into account a "real" withdrawal strategy, which includes plugging in my basis on my after tax accounts, tax implications based on our current known taxes, a conservative 75% of SS at age 70, a 6% annual return on a 60/40 AA, and all the models say I will easily double my NW by age 94! Yes, 1st world problems that can be solved thru charity and gifting to kids. None the less, funny how we play Jedi mind tricks on ourselves to motivate us to "get to the number" and then you get there and wonder why you worked like a dog to hit some magical number that was overkill. Anyone else wakeup to this?
I didnt have time to read all the posts, but I did want to leave a comment. I think I, like many others, are trying to plan for the worst case. Where I differ, is that I am not necessarily planning to get out of work early. I love working and love my job. I want to plan to have enough money that I dont really have to worry about market crashes because half of my nest egg will get me through just fine. That way it can continue to grow when I spend, and I dont feel the need to be ultra conservative in give up growth of a nice nest egg. I would like to be able to be very generous in my retirement (hopefully around age 62) and help some people and organizations out a bit.

My biggest worry now is money going all digital and getting stolen by a government that cant stop spending and taxing, or a cyber crook.
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