DW and I continue piecing together our semi-ER plans. There will be a 20 year gap between the year we hope to switch to part time and the year that the pension/IRA era begins. We dont mind spending every last cent of our allocated savings to get us through the 20 yrs of semi-ER.
Our efforts to escape the day to day grind has made us [-]desperate[/-] look to find the lowest amount of money needed. We have an idea in mind of the minimum amount needed to be saved.
However, when I play with Firecalc I see our savings goal having a 49.6% chance of success when not estimating taxes.
This rate drops to 23.1% when estimated taxes.
We have no idea what our taxes will look like in semi-ER.
Would anyone consider semi-ERing with firecalc showing such a low success percentage? keep in mind that it would be okay spend all of the allocated savings to make it through the 20yr period to the finish line.
Any advice/comments on this matter would be greatly appreciated. Thanks.
Our efforts to escape the day to day grind has made us [-]desperate[/-] look to find the lowest amount of money needed. We have an idea in mind of the minimum amount needed to be saved.
However, when I play with Firecalc I see our savings goal having a 49.6% chance of success when not estimating taxes.
This rate drops to 23.1% when estimated taxes.
We have no idea what our taxes will look like in semi-ER.
Would anyone consider semi-ERing with firecalc showing such a low success percentage? keep in mind that it would be okay spend all of the allocated savings to make it through the 20yr period to the finish line.
Any advice/comments on this matter would be greatly appreciated. Thanks.