Hard not to feel that way sometimes when you see these posts
Hard not to feel that way sometimes when you see these posts
medved said:They all have real decisions to make that are important to them. If they ask their questions, they are doing so in good faith, seeking advice and input. Why should we assume the worst about people, or resent their success? I don't get it.
I think that you are being judgmental of someone that you think is being judgmental. Pot meet kettle.Why is it hard for you? Do you assume that anyone who who has a financial/life decision they are struggling with -- and who has accumulated significant assets and expenses --must be bragging by posing their question on this forum? That seems like a pretty uncharitable perspective. Or is it just that you find it hard not to be jealous of someone who has accumulated more money than you have? Maybe you are not alone there, but it is good to resist jealousy if you can. There will always be people who have more than you do, or less than you do.
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DW spends way more than necessary so we gotta get that in focus.
I am happily retired (age next week 63). The last thing I really wanted was to suit up and join the game. But.....the recent market drop cost be a few years of WD's. No worries a drop for me is around $400K!!!. So, Ive started takin the calls and am 50/50 on whether I should re-enter the race at 63!!. Still have about $8MM in eggs but will absolutely spend $300K annually (shoot me now!). Offer is for about a 2 year commitment for what looks like $3MM. Admittedly don't need this but I got 2 years till the magic 65.....ugh....I love this forum and don't judge just slap me and say get over it!!! This forum is full of honest feedback so give me your thoughts.
I have a chance to retire at 57 with about 8.8MM . I can stay on till 60 and hit almost 10mm. DW looked at me last night and asked if I was ready, she wants us to retire ASAP. Don't think I will spend 300K per year, but could. I am torn on your situation , and mine. I need to find a hobby!
What I didn’t ask is whether I could afford this.....but rather what you would do.
I am happily retired (age next week 63). The last thing I really wanted was to suit up and join the game. But.....the recent market drop cost be a few years of WD's. No worries a drop for me is around $400K!!!. So, Ive started takin the calls and am 50/50 on whether I should re-enter the race at 63!!. Still have about $8MM in eggs but will absolutely spend $300K annually (shoot me now!). Offer is for about a 2 year commitment for what looks like $3MM. Admittedly don't need this but I got 2 years till the magic 65.....ugh....I love this forum and don't judge just slap me and say get over it!!! This forum is full of honest feedback so give me your thoughts.
What am I missing here? He said 300k included taxes? It would be very surprising if the majority of this $ was not invested in taxable accounts. Probably ~ a 50% cost basis, with some dividend income, so say 150k of his own money, 75k of dividend income and another 75k of capital gains. Taxes on that are pretty cheap, no? By my estimates about 15-20k, assuming capital gains taxes don’t get massively changed of course.
At 4% swr he could take 320k and I would assume he’s got another 35-40k per yr of SS income that he’s not counting in there.
Mea culpa, I missed that part about 300k including taxes. Agree completely, OP appears to be sitting pretty.
OP, you are financially independent. IMO, you can continue your current spending level and be fine. So, do what makes you happy. If you enjoy work, then go back to work. I would not go back just for the money. If you truly are concerned about having enough but do not want to work, then focus on reducing spending.
Since you are recently retired, you may just be feeling the early retiree jitters that many feel. They go away with time. I have one other thought. If you have the potential to earn $1.5M per year, you may not be use to budgeting (never had to - always had a high income). If this is the case, I suspect you can reduce your expenses without much impact on your lifestyle.
Just had an additional thought. OP is 63. According to actuarial tables has about 20 years left on average... would he want to waste 10% of his likely remaining time working?
Not this 63 yo!