Search results

Over 2-1/2 years in retirement, no pension, no SS yet, our spend rate varies between 2% and 3.5%. Hoping to increase next year with a new car and international travel. Oh, and DW plans to apply for her SS benefits next year too.

I filed both my federal and state income taxes electronically on 3/31/22. Received my state return on 4/11 and federal return today.

We had a cash amount covering 3 years of essential living cost when we FIREd. Then we moved to a HCOL area two years in FIRE and used up cash quickly for the initial new home setup. We have replenished the cash since then and it is up to two years of essential living cost.

Our main focus is the tax impact on income. In general we built up a cash reserve prior to FIRE, enough for 2-3 years of living budget forecast, and turned off reinvesting dividends. Our main income comes from IRA withdrawal semi-annually to supplement the cash reserve, and sold equities only...

Down 6.1% on 95/5 allocation. More than half in large caps, the rest in total market, technology, and small caps.

2021 up 25% on 95/5 allocation.

I started reading about retirement at 55, with a goal of full retirement at 65. After putting together various worksheets, learning about the 4% rules, and seeing our NW went past our magic numbers, we could have retired at 59. However we waited until all kids have graduated from colleges before...

We had a standard term life policy through work (free of cost), another much larger term life policy, and a small convertible whole life policy. We canceled the large term life policy a year prior to retirement since kids were grown and no risk to our financial situation if I had lost my job...

DW plans to claim @ 63; me @ FRA. About $5000+/month combined.

+1 My company sponsored 401K administrator had higher fees and fewer investment options. As soon as I FIREd, I rolled it over to Fidelity IRA (no taxes) and started doing partial Roth IRA conversion over time, paying levelized taxes along the way.

We are in our early 60's. Three kids working in different states far from us. Our kids are still single, just starting out in their young careers so chances are high that they will move again within a few years. After FIRE 2 yrs ago, we wanted to move to a nicer weather area so we chose a HCOL...

+15.7% ytd.

+1 When we converted our 401K after-tax into Roth IRA, we paid tax on the gains in 401K after-tax portion. Our pre-tax 401K and Roth 401K roll over into IRA and Roth IRA, respectively, were non-taxable.

We told our kids that we want to be cremated. Both my parents wanted same. Our kids have their own careers in various parts of the countries so there will be no guilt if they forget to visit.

Currently spending money saved up prior to FIRE + dividends + IRA distribution. Not taking SS yet. No pension either.

Started my research at 55 on retirement with the goal of retiring by 65. With luck, we were able to retire at 60 once all kids are off the payroll. We decided that more quality time is better for us than more money. As a bonus, my liquid NW has increased since retiring due to stock market.

We moved from a 3500 SF house into 650 SF apartment located in the backyard of a family member. A lot of stuff being donated and the rest go into a small storage unit. It was supposed to be a quick 2-month transition after we sold our house and buy a new one. But it has been 6 months. We are...

A very small pension, about 5% of planned budget, when we turn 65.

We estimated $25k in our budget for travel. 2020 was our first full retirement year so that number was barely touched. I suspect 2021 will be similar for us.

To our target number, we added children wedding costs (or any future big budget items you may envision now) plus three years of base line living costs (excluding discretionary spending) just in case stock market cratered immediately after we FIREd. You may do differently but it's good to plan...

I just do what made me feel happy. Bought DW a nice Rolex because she wanted one and I could afford it. I, on the other hand, wanted to get rid of my own Rolex which I acquired during my working days. Now I wear a Timex everywhere I go.

Up 10.0% YTD through 4/30/21, mainly large cap index funds.

This is the first year we will do a Roth conversion, up to somewhere in the 24% bracket. I vacillated between deferring taxes until RMD years or swallowing the pain and pay it now. I have decided to spread out my effective tax rates over the remaining years; that and fear of paying taxes as a...

We sold our house earlier this year, kind of unexpectedly due to low rate of viewings in our area. We then moved into a smallish temporary family housing in the same area and put most belongings into storage. The plan is to buy a new house in HCOL area out of state for family reason, in maybe...

DW is smart, she handles all bills and CC. She sets up auto phone notices whenever there is a new charge on our CC, and moves cash around to take advantages of account balance incentives. But she was terrified about retirement and had no idea how much is enough. She heard her friends going to...