ER poll

[MJ]

I know that most of us have mention on different threads how we determined when we were financial ready to ER.

Influenced by the latest Bernstein thread "Bernstein slams early retirement", I thought this poll would give newbies and perpective future ER candidates a clearer picture of where our money comes from to support our "so far" sucessful ER.

Since I am assuming most of us who have ER'd had at least 7 to 15 years to wait for either SS and medicare to kick in (we hope), I didn't include them.

If you are Freddie, I guess you go to the local library to access the internet.

 

[Mr._johngalt]

No pension, no paid health insurance, spousal income. I have taken
some heat for loafing while DW works. It's a complex issue.
OTOH, my net worth increased for the 4 years I was single and
is now flatlined. That's a complex issue also. I was thinking just today
that a bunch of guys I know are still working just to get them out of the house and away from 24/7 contact with their spouse. I can understand
that but have yet to face the problem head-on. I will say this. Having
some sort of self employment gives you a lot of freedom to come and go. It wouldn't help me much as I usually just do as I please anyway.
But, I can see the appeal of taking off for a week and telling the
little woman that you are working

JG

 

[haha]

But, I can see the appeal of taking off for a week and telling the
little woman that you are working  JG

Maybe you want to hold off on that plan until after she is no longer churning the butter for your bread?

When that is all over, you could see if MJ could get you on with his former employer managing the massage parlor. That would be a break in the daily domestic routine. 

I used to have a old-guy buddy. When I was 40, he was nearing 80. Former Navy pilot, former test pilot at Grumman, incredible all around great guy. His wife tried to make him into her chauffeur and go-fer for her church-lady projects. So he hid out in the health club all day. She was too intimidated to come in there and roust him.

Ha

 

[MJ]

When that is all over, you could see if MJ could get you on with his former employer managing the massage parlor.

Hey Ha,
do you have that good a memory or do you keep a spreadsheet with all our past accomplishments?

 

[haha]

Hey Ha,
do you have that good a memory or do you keep a spreadsheet with all our past accomplishments? 

Well, this is just the type of resume that sticks in my mind, you know?

Ha

 

[MJ]

Well, this is just the type of resume that sticks in my mind, you know?

Ha

That will teach me for sharing.

 

[Michael]

The majority has a pension.

 

[maddythebeagle]

I think the other issue is how much of a pension. I am sure that some arent sticking around for the full 30 years or whatever full retirement is for them (the ones that do are probably the ones with the health insurance)

 

[BigMoneyJim]

The majority has a pension.

Odd, I was under the impression a majority made it through equities, be they stocks or real estate.

ADDED: Mine is forecast to be from a DB pension (non-COLA) and a tax-deferred stock/bond/reit fund mix.

 

[Michael]

I am sure that some arent sticking around for the full 30 years...

25 for me.

Odd, I was under the impression a majority made it through equities, be they stocks or real estate.

I would guess that the above supplement the pension for most people.

 

[Mr._johngalt]

Maybe you want to hold off on that plan until after she is no longer churning the butter for your bread?

When that is all over, you could see if MJ could get you on with his former employer managing the massage parlor. That would be a break in the daily domestic routine. 

I used to have a old-guy buddy. When I was 40, he was nearing 80. Former Navy pilot, former test pilot at Grumman, incredible all around great guy. His wife tried to make him into her chauffeur and go-fer for her church-lady projects. So he hid out in the health club all day. She was too intimidated to come in there and roust him.

Ha

I take off whenever I want for as long as I want. Thus, I have the same system as before I remarried. Not too sure how this would work if DW
was retired also.

JG

 

[LOL!]

...
I was thinking just today that a bunch of guys I know are still working just to get them out of the house and away from 24/7 contact with their spouse. I can understand that but have yet to face the problem head-on.

Maybe that's why your spouse is still working?

 

[MJ]

Re: ER poll results

So far, with 34 votes, here are the statistics on how we ER'd,

38% with our investments only
21% included spousal income
50% included a pension
35% included subsidized health insurance

 

[Mr._johngalt]

Maybe that's why your spouse is still working?

That occurred to me as well

JG

 

[kz]

Two pensions, no subsidized health insurance. Nest eggs are long term, not needed for expenses at this point.

And hubby recently went back to work part-time at a seasonal job more as a hobby than for the money. (although the increase in the savings accts is nice)

SS won't kick in for 8 yrs for him, 16 yrs for me.

 

[SteveR]

Will have:

DB (non COLA) pensions (one each) for 24 years of working bliss for me; 20 for DW. 

Together they will provide only 20% of gross income today.  They might pay for gas and beer.  Well beer anyway. 

The rest is IRAs and 401(K) roll overs (both) and after tax portfolio and cash. 

SS will help in 9 years but until then we will be doing a 72(t) or general IRA withdrawls after age 59.

Part time work is not in the plan unless we want to because of the nature of the work; not because we have to.

Forgot to mention employer assisted health care until age 62. Why am I still working?

 

[astromeria]

Me = 50% IRAs, 50% taxable investments, no pension, no subsidized health insurance

DH = 25% IRAs, 75% taxable accts, still working but at a downsized job (college instructor), might get 2 small nonCOLA pensions at 65, has lightly subsidized health insurance ($300/month plus $120/month for the HSA account for 2005).

If DH retired this minute, we'd have enough income from investments to cover all of our needs and half of our wants. DH continues to work mainly because he enjoys it and gets 4 months off per year for R&R.

 

[shiny]

I didn't vote. I'm not working, so right now it would be totally spouse's income as we are still living on it and saving the majority of it, but I don't REALLY feel ERed. I think it won't truly hit me until he quits too and we live on savings only. No pensions, health ins, etc.

Should I vote on how the plan for total ER will be?

 

[Nords]

Pension & subsidized healthcare.

Spouse's gravy train just derailed and now she's joined the prestigious Navy Reserve's local "Volunteer Training Unit", where you drill for retirement points but zero pay. (It's like showing up for work to accrue longevity & free coffee without paychecks or 401(k) contributions.) She might get one more chance at a Bangkok trip on per diem (no pay). Otherwise she waits a year until some of the deadwood more senior Reservists retire and open up more billets.

OTOH I think she finally "gets it". A lot of that "I'll show them" competitiveness has been replaced by a "What, me work?" attitude. She seems more relieved than ticked off at having to join the VTU, and she's cherry-picking good billets instead of showing that hard-core "Have military ID card, will travel" attitude. In 2007 she finishes her Reserve obligation & goes over 24 so she might even put in retirement papers. I think the only thing really keeping her in the VTU is the chance for a few more Thai massages.

In the last three years we've cut our mortgage payments by 10%, dropped the kid's most expensive activities, raised the vacation budget, and held the line on the other big spending categories. Overall spending will drop by 15% next year, partly because we won't be making 2006 IRA contributions. Portfolio withdrawals will be well below a 4% SWR and most of that will be mortgage payments.

Life stays good.

 

[Cut-Throat]

Overall spending will drop by 15% next year, partly because we won't be making 2006 IRA contributions.

Why would you consider IRA contrbutions Spending? - Doesn't that kind of sound like saving to you?

 

[Nords]

Why would you consider IRA contrbutions Spending? - Doesn't that kind of sound like saving to you?

Yeah, I'm over-nuking it. But keeping it in the budget reminds me to make the contributions.

I guess we'll have a lot more room next year for conversions to a Roth IRA, too...

 

[MJ]

Re: ER poll results

With 54 votes, here are the final statistics on how we ER'd,

33% with our investments only
19% included spousal income
52% included a pension
35% included subsidized health insurance
02% inherited their nest egg
02% for Freddie the freeloader who finally got to access the internet?