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Old 12-23-2022, 04:50 PM   #41
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Originally Posted by rodi View Post
If you look at retirement spending there have been several models that based on household data noted spending drops by age 75 for most retirees... They propose it's ok to spend more in the early retirement years because you will have checked off your expensive bucket list by the time you're that age. So there's a glide path from the earlier, expensive, years (pre 56yo) to your constant spending later years (75yo).

There's a good wiki on this over at bogleheads.
https://www.bogleheads.org/wiki/Mode...ent_progresses
My spending has always been at least 25% more than planned for retirement and seems to go up most years. Next year will be a lot more than normal (I just ordered a new truck.) I'll be 73 in 6 weeks. I'm not hoping for a spending slowdown. That sounds boring.
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Old 12-23-2022, 05:12 PM   #42
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So I can only tell you that you can not get the retirement time back. Time spent with family and friends along with travel will be lost forever if you go for the additional money. Do you have enough money to have a nice life and not have to work? If you do then go and don't look back.
I had 5k plus employees and just under a billion dollar budget eight years ago. I left that business and was offered a newly created VP job at a large corporation that would pay 2 times to start what I was making when I left the first career. My accountant told me I would be paying a lot more in taxes and my wife said I wasn't a two year man after signing a two year contract with this great corporation. The last minute I backed out and went happily on my way. We have plenty of money to live very secure in our ways while we enjoy our retirement life. We have traveled America 8 years in a row and have spent time with family we never would have been able to do if I was still chasing more money.
Hope you make the right decision for you and yours.
God Bless America
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Old 12-23-2022, 06:35 PM   #43
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I'm telling you, I'm the only person who is NOT chasing money, I feel like the oddball.


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You have come to the right place. You will fit right in. Do share your journey with us.
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Old 12-23-2022, 07:06 PM   #44
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Enjoy yourself; it's later than you think!

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Old 12-23-2022, 07:52 PM   #45
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Originally Posted by REWahoo View Post
Here is a real world example of that, showing our annual spending, including taxes, over our 17 years of retirement.

[Edited to correct chart error]

Note that the marked decline beginning in year 15 (2020, age 72) was largely due to events surrounding Covid.

Looking at our year 18 (2023, age 76) budget, I envision spending to be similar to the past three years unless we have to replace the HVAC system, make other unplanned major repairs or get hit with some other unfortunate event.

Nice chart.

Would be nicer if it is adjusted for inflation over the years.
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Old 12-23-2022, 07:54 PM   #46
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... I'm not hoping for a spending slowdown. That sounds boring.
I did not hope for a spending slowdown either. It just happened!

And no, it's not boring.
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Old 12-23-2022, 08:00 PM   #47
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I did not hope for a spending slowdown either. It just happened!

And no, it's not boring.
NEEDING a spending slowdown is definitely not boring. It can be scary and nerve wracking. Last time was late 80s for us when several things hit the fan at once. Blessed with more normal ups and downs now - and I believe in the adage that in many things "Boring is good!" YMMV
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Old 12-23-2022, 08:07 PM   #48
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I retired 1/2022

Yesterday I went to my last bossís retirement send off and caught up with about 40 former co-workers.

Iíve spent 121 nights traveling in 2022, and they were envious.

More than one person commented on how relaxed I looked.

As I drove home from ďworkĒ one more time, I realized how right my decision was.

Merry Christmas!
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Old 12-23-2022, 08:28 PM   #49
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Just got a Christmas card from a guy I taught during his Masters program. Eventually I was able to hire him at Megacorp. He is now 2.5 years from retirement. When I left, we had 7 in our dept. He now has one empl*yee! Times have changed at Megacorp! I think of him as my legacy at Megacorp - but I feel bad that he has had to stay this long. BUT he likes his toys (latest electronic toys, TV, car, etc.) To him it was worth it to stay. For me - not so much. Just glad he is happy as he's one of the good ones.
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Old 12-23-2022, 09:17 PM   #50
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We chose downsizing and travel.

Looking back 12 years it was the best decision ever.

My question was not how much more can I make. It was how many years with good health can I look forward to do the things that we want to do.
I wish I'd retired sooner. You'll be surprised just how little you need to live off of once you don't have any debt.

For all the younger people reading this, I wish someone told me to start planning on retiring at 55 when I was 25.
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Old 12-24-2022, 12:04 PM   #51
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NEEDING a spending slowdown is definitely not boring. It can be scary and nerve wracking. Last time was late 80s for us when several things hit the fan at once. Blessed with more normal ups and downs now - and I believe in the adage that in many things "Boring is good!" YMMV
I concur. Spending less because you have to is not boring, but scary.

I was talking about spending less than previously, because some expenses went away and you have not bothered to look for new expenses. This is not boring either. I am a mellow guy, and don't need excitement.
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Old 12-24-2022, 01:07 PM   #52
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Hello,
I'm sure this has been asked many times before and is similar to "One More Year Syndrome". My background, I have a mandatory retirement next year at 55 years old. We will have enough money to live modestly, travel and never work again. I will definitely work part time in some way to balance life out and cover the additional travel, mostly Snowbird Surfing trips to warm places 4 months a year. I've talked to my athletic, older, mentors and they all say, take advantage of the good healthy years and go for it.

My question...How do I keep my eyes on the dream and not envy all of my colleagues who are chasing their next career to make more money. I'm telling you, I'm the only person who is NOT chasing money, I feel like the oddball.


Thanks
I was forced out of my job at 62 in 2018. This propelled my husband and I to work on selling our home and moving out of state. He retired the end of 2019 and we moved in February, 2020. We have enjoyed being retired immensely.

But this past year I suddenly began having back issues and just recently couldnít walk for a few weeks without excruciating pain and actually still in pain and can only walk a little bit. Canít bend, etc. Life has changed .

I was fairly active- walking, some hiking, snow shoeing, etc. I had just planned our first vacation since moving and now I am sitting around in our small downsized house waiting to have surgery.

Don't put it off!
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Old 12-24-2022, 01:24 PM   #53
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I was forced out of my job at 62 in 2018. This propelled my husband and I to work on selling our home and moving out of state. He retired the end of 2019 and we moved in February, 2020. We have enjoyed being retired immensely.

But this past year I suddenly began having back issues and just recently couldnít walk for a few weeks without excruciating pain and actually still in pain and can only walk a little bit. Canít bend, etc. Life has changed .

I was fairly active- walking, some hiking, snow shoeing, etc. I had just planned our first vacation since moving and now I am sitting around in our small downsized house waiting to have surgery.

Don't put it off!
I'm sure you have gotten medical care for your back. I've struggled with back issues most of my life. I recently received a third steroid epidural which has felt like a miracle so far. The first one helped a bit. The second helped more. This third one makes me think there just could be a life without back pain, but I don't want to jinx myself just yet. This has all taken place over about 10 months. Find the best doc you can because YMMV. Best of luck.
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Old 12-24-2022, 03:23 PM   #54
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I'm sure you have gotten medical care for your back. I've struggled with back issues most of my life. I recently received a third steroid epidural which has felt like a miracle so far. The first one helped a bit. The second helped more. This third one makes me think there just could be a life without back pain, but I don't want to jinx myself just yet. This has all taken place over about 10 months. Find the best doc you can because YMMV. Best of luck.
Thank you. Hope it works for you.

Yes- I got two opinions- one from an ortho surgeon and the other from a neuro surgeon, who I chose. He is a Castle Connelly top doc with 20 years e petit be at a very good teaching hospital. I opted to skip the injections as I didn’t want to keep kicking the can down the road and waiting for the next shoe to drop.

Surgery scheduled 1/23. I hope I make it until then.
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Old 12-25-2022, 03:17 AM   #55
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Thank you. Hope it works for you.

Yes- I got two opinions- one from an ortho surgeon and the other from a neuro surgeon, who I chose. He is a Castle Connelly top doc with 20 years e petit be at a very good teaching hospital. I opted to skip the injections as I didnít want to keep kicking the can down the road and waiting for the next shoe to drop.

Surgery scheduled 1/23. I hope I make it until then.

I hope the surgery helps you. My back issues canít be resolved by surgery, so Iíve been getting epidurals and ablations in my cervical spine and my lower spine since 2006. I take 3,000 mg of Tylenol per day and always have hydrocodone and muscle relaxers available. Iíve done physical therapy and acupuncture. Now itís just the routine of ablation or epidural and medications. I canít stand or walk more than 20-30 minutes without having to sit for a while.
But, it doesnít do anyone any good to feel sorry for one self, so life goes on. Grandkids are wonderful and understanding, we cruise, go to the beach and watch the boats and wave action. Iím active in my church where I can be. And I love searching for new stocks or bonds and ways to increase our cash flow.
If the surgery works for you, thatís great. If it doesnít, youíll find ways to manage it with a good pain management doctor. Just donít take any more meds than they prescribe and only get them from legit pharmacies.
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Old 12-25-2022, 04:51 AM   #56
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I hope the surgery helps you. My back issues can’t be resolved by surgery, so I’ve been getting epidurals and ablations in my cervical spine and my lower spine since 2006. I take 3,000 mg of Tylenol per day and always have hydrocodone and muscle relaxers available. I’ve done physical therapy and acupuncture. Now it’s just the routine of ablation or epidural and medications. I can’t stand or walk more than 20-30 minutes without having to sit for a while.
But, it doesn’t do anyone any good to feel sorry for one self, so life goes on. Grandkids are wonderful and understanding, we cruise, go to the beach and watch the boats and wave action. I’m active in my church where I can be. And I love searching for new stocks or bonds and ways to increase our cash flow.
If the surgery works for you, that’s great. If it doesn’t, you’ll find ways to manage it with a good pain management doctor. Just don’t take any more meds than they prescribe and only get them from legit pharmacies.
I guess the hardest thing for me is I’m worried my overall health will go downhill because I can’t exercise. Not good physically or mentally. My weight is a big concern for me. It’s winter here so not getting outdoors for fresh air. Need movement especially in the cold.

I’ve done chair exercises but let’s face it it’s not the same as walking and standing.

Being in pain 24/7 and no sleep and just sitting down all day is getting to me and that’s an understatement. I can only read so much. I can barely do anything. I’m not taking any meds because what they initially prescribed- muscle relaxers- hasn’t done anything to help with the pain. I’m thinking of calling a pain doctor tomorrow to see if they can help me until my surgery date because I don’t think I can cope with this any longer. Its been 40 days of mostly agony. It’s hard to be happy and cheerful when you are constantly in pain. I’m normally a smiling, upbeat person - expressive personality with energy and goals and plans.

I also feel for my husband who has had to take on caring for me and the household- cooking, cleaning, food shopping, driving me places ( I miss driving already), everything I always did. I don’t want this for him.
I am counting on this surgery.

Anyway, I don’t want to hijack this thread anymore. Hopefully the OP can see how life can change on a dime.

I wish you well. It seems you’ve found a way to manage.
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Old 12-26-2022, 03:44 PM   #57
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Thank you. Hope it works for you.

Yes- I got two opinions- one from an ortho surgeon and the other from a neuro surgeon, who I chose. He is a Castle Connelly top doc with 20 years e petit be at a very good teaching hospital. I opted to skip the injections as I didnít want to keep kicking the can down the road and waiting for the next shoe to drop.

Surgery scheduled 1/23. I hope I make it until then.
Funny thing about my situation: With X-rays and even an MRI, they STILL don't see anything wrong! Nothing to "fix" supposedly. SO conservative care w*rks for me. Here is hoping your procedure is a permanent relief for you!
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Old 12-26-2022, 07:37 PM   #58
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I've observed many 70-80 year old people who have either slowed to a crawl, gotten dementia or are taking a dirt nap the past couple of years. Hopefully DW is making the same connection with her creaping up on 60 in a couple of years.

Her mom is 81 & has dementia. Taking care of her for the past month is no cake walk...

Living past 80 is not likely for us, imo, but I'm planning for 90... Just waiting for her to get ready to go.

In the meantime, we took a few years test run & we travel a lot even while we w*rk. And I'm doing home maintenance on mom's house this week, so we have it pretty good considering.
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Old 12-27-2022, 11:26 AM   #59
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Every year that you keep working is most likely the healthiest remaining year left in your life.
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Old 01-13-2023, 02:22 PM   #60
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Every year that you keep working is most likely the healthiest remaining year left in your life.

Wow... that is an eye opening way of putting it!!! Time > money has been my go to, but this hits pretty hard as well. Cant be stupid but gotta get off the OMY treadmill.
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