Now into my 3rd month of Early Retirement...
Only problem I have (if it is a problem) is spending my own money. That wasn't a problem when I was spending the company's money (wages); but now I find it somewhat difficult to reconcile to the fact that from now on I have to spend my own money. Fortunately I do have a pension, doesn't cover everything, but still nice and reliable.
I've played around with FireCalc and noticed that I can spend much more than the recommended 4% safe withdrawal rate if I withdraw less at age 62 when social security begins (4 more years). That's comforting, but I still don't want to overspend. I don't want to draw down my savings; would like to see it go up, if ever so slightly until I can get social security.
Anyone else have these feelings ?
Ray
Only problem I have (if it is a problem) is spending my own money. That wasn't a problem when I was spending the company's money (wages); but now I find it somewhat difficult to reconcile to the fact that from now on I have to spend my own money. Fortunately I do have a pension, doesn't cover everything, but still nice and reliable.
I've played around with FireCalc and noticed that I can spend much more than the recommended 4% safe withdrawal rate if I withdraw less at age 62 when social security begins (4 more years). That's comforting, but I still don't want to overspend. I don't want to draw down my savings; would like to see it go up, if ever so slightly until I can get social security.
Anyone else have these feelings ?
Ray