First post, but I've been around for many years lurking.
Age: About 42, Spouse the same
Kids: None
Anticipated Retirement: April 2022
Allocation: 80/20 Risky/Ballast
Let A = Annual expected spending in retirement. We have 30.55A set aside for retirement, or a 3.27% w/d rate currently, split roughly equally between taxable and non-taxable/qualified accounts. Plan to save another 1.15A between now and retirement date, so hope to have at least 31.7A or 3.15% w/d rate.
I am fairly handy with spreadsheets and am an amateur coder, and so I have created my own simulation tools to compare with Firecalc and the work seen on the Early Retirement Now blog. They all compare reasonably well to each other, and everything looks green across the board now, let alone in a few more months. That said, I seem to be suffering from a form of OMY.
I keep finding a few more things to save for to pad things to get comfortable. For example, in my calculation of A, I took our yearly spending for the last 5 years (which I have documented practically down to the dollar), adjusted it for things like anticipated ACA premiums, minus car insurance after going down to one car, etc. However, I decided to add a '13th month' as a just in case factor, which is included in my figures above. Without it, the 31.7A or 3.15% becomes 34.3A or 2.91% w/d rate.
Additionally, I decided we should set aside 1.25A for unexpected medical/dental expenses, and 1A for 'fun' (think crazy vacation or something), both of which we have already put aside, and that 2.25A additional is not included in the above figures or w/d rate.
While I'm very much looking forward to taking control of my time, I just feel nervous for a variety of reasons. As I have read other posters say from time to time, I will never be able to make the kind of money I do once I walk away from my j*b, inflation is high, the market seems overvalued. I wonder if I'm just inventing excuses, but I just don't know if I will really be able to pull the trigger. At the same time, I know that if I did stay on, I might be willing to work up to another year, but I don't see how I could take much more than that without moving to something different.
I think I just need some help on how to put things into proper perspective.
Age: About 42, Spouse the same
Kids: None
Anticipated Retirement: April 2022
Allocation: 80/20 Risky/Ballast
Let A = Annual expected spending in retirement. We have 30.55A set aside for retirement, or a 3.27% w/d rate currently, split roughly equally between taxable and non-taxable/qualified accounts. Plan to save another 1.15A between now and retirement date, so hope to have at least 31.7A or 3.15% w/d rate.
I am fairly handy with spreadsheets and am an amateur coder, and so I have created my own simulation tools to compare with Firecalc and the work seen on the Early Retirement Now blog. They all compare reasonably well to each other, and everything looks green across the board now, let alone in a few more months. That said, I seem to be suffering from a form of OMY.
I keep finding a few more things to save for to pad things to get comfortable. For example, in my calculation of A, I took our yearly spending for the last 5 years (which I have documented practically down to the dollar), adjusted it for things like anticipated ACA premiums, minus car insurance after going down to one car, etc. However, I decided to add a '13th month' as a just in case factor, which is included in my figures above. Without it, the 31.7A or 3.15% becomes 34.3A or 2.91% w/d rate.
Additionally, I decided we should set aside 1.25A for unexpected medical/dental expenses, and 1A for 'fun' (think crazy vacation or something), both of which we have already put aside, and that 2.25A additional is not included in the above figures or w/d rate.
While I'm very much looking forward to taking control of my time, I just feel nervous for a variety of reasons. As I have read other posters say from time to time, I will never be able to make the kind of money I do once I walk away from my j*b, inflation is high, the market seems overvalued. I wonder if I'm just inventing excuses, but I just don't know if I will really be able to pull the trigger. At the same time, I know that if I did stay on, I might be willing to work up to another year, but I don't see how I could take much more than that without moving to something different.
I think I just need some help on how to put things into proper perspective.