Early Retirees Perhaps Living A Bit Too Much Below Our Means?
- Thread starter ElizabethT
- Start date
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Us too!
ElizabethT
Full time employment: Posting here.
Some additional follow up -
As indicated in Reply #29, my husband and I agreed to bump our Jan 1 portfolio WR from 2.5% to 3% effective immediately. I found I had a very hard time sleeping the first few nights afterward, instead waking up repeatedly in a panic about the thought of spending more than we do currently. But, by about day three, I started to relax and actually embrace the idea of loosening up some of the reins we've been holding so tightly.
Now, about a week into this, we've moved ahead and booked a 60-day world segment cruise for 2016. We also researched some Caribbean all-inclusives, and have told our family to reserve time this summer for an all expenses paid trip courtesy of Mom and Dad. We've also decided to sign up for a charity walk later this year, and will simply donate the required funds to the charity, rather than attempting any sort of fundraising.
I think this may possibly be the only site currently in existence where a topic such as this could be understood and rationally discussed.
As indicated in Reply #29, my husband and I agreed to bump our Jan 1 portfolio WR from 2.5% to 3% effective immediately. I found I had a very hard time sleeping the first few nights afterward, instead waking up repeatedly in a panic about the thought of spending more than we do currently. But, by about day three, I started to relax and actually embrace the idea of loosening up some of the reins we've been holding so tightly.
Now, about a week into this, we've moved ahead and booked a 60-day world segment cruise for 2016. We also researched some Caribbean all-inclusives, and have told our family to reserve time this summer for an all expenses paid trip courtesy of Mom and Dad. We've also decided to sign up for a charity walk later this year, and will simply donate the required funds to the charity, rather than attempting any sort of fundraising.
I think this may possibly be the only site currently in existence where a topic such as this could be understood and rationally discussed.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I was expecting the "I found I had a very hard time sleeping the first few nights afterward, instead waking up repeatedly in a panic about the thought of spending more than we do currently" comment to end with "I just can't do it," but happily it appears it isn't so. Congratulations on finding a way to loosen up the purse strings and enjoy life a bit more.
Good move. I still think you still have room to safely increase spending. As you age you will likely not have the desire or physical ability to enjoy your assets like you can now.
Try running FireCalc using the Bernicke option. The results will shock you. I truly believe in this as I've watched my parents and in laws go through the transition.
DW and I have "safe" living expenses covered by small pensions and social security. There is a CD ladder covering our eventual SS and medical expenses until Medicare kicks in. I'm then taking 5% of the remaining portfolio for spending above the "safe" living expenses - trips, toys, gifts... I really think I could go up to 6% without risk but I'll see how things go this year. This will be my first year using this budget.
My retirement starts 27 February (5 "in-office" days left
) .
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
2B I hope you start your own thread when you are finally retired.
Am I getting obnoxious hijacking everyone else's threads?
I plan to do a narcissist happy dance of a post when I'm finally out the door.
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Am I getting obnoxious hijacking everyone else's threads?
I plan to do a narcissist happy dance of a post when I'm finally out the door.
Not obnoxious, just fragmented.
As others have said, you've got enough to probably go to 3% or 3.5% and still be in great shape. Given what you posted here, why don't you stay at 2.5% for yourself and use another 0.5% to start passing on money now to those wonderful children and grandchildren. Cash gifts or lots of memories and fun together doing things they likely cannot afford to do at this time!
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Some additional follow up -
As indicated in Reply #29, my husband and I agreed to bump our Jan 1 portfolio WR from 2.5% to 3% effective immediately. I found I had a very hard time sleeping the first few nights afterward, instead waking up repeatedly in a panic about the thought of spending more than we do currently. But, by about day three, I started to relax and actually embrace the idea of loosening up some of the reins we've been holding so tightly.
Now, about a week into this, we've moved ahead and booked a 60-day world segment cruise for 2016. We also researched some Caribbean all-inclusives, and have told our family to reserve time this summer for an all expenses paid trip courtesy of Mom and Dad. We've also decided to sign up for a charity walk later this year, and will simply donate the required funds to the charity, rather than attempting any sort of fundraising.
I think this may possibly be the only site currently in existence where a topic such as this could be understood and rationally discussed.
There you go!
Ignore my previous suggestion. Next time I'll read the whole thread before responding.
MuirWannabe
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Some additional follow up -
As indicated in Reply #29, my husband and I agreed to bump our Jan 1 portfolio WR from 2.5% to 3% effective immediately. I found I had a very hard time sleeping the first few nights afterward, instead waking up repeatedly in a panic about the thought of spending more than we do currently. But, by about day three, I started to relax and actually embrace the idea of loosening up some of the reins we've been holding so tightly.
Now, about a week into this, we've moved ahead and booked a 60-day world segment cruise for 2016. We also researched some Caribbean all-inclusives, and have told our family to reserve time this summer for an all expenses paid trip courtesy of Mom and Dad. We've also decided to sign up for a charity walk later this year, and will simply donate the required funds to the charity, rather than attempting any sort of fundraising.
I think this may possibly be the only site currently in existence where a topic such as this could be understood and rationally discussed.
Well done, ElizabethT!
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