Rich_by_the_Bay
Moderator Emeritus
I'm confused. Most recommendations I've seen tell you to plan on ~80% of pre-retirement expenses. Dory and others argue that it's often MUCH less, maybe 50%. This number is a big deal at my stage, just a few years from FIRE.
So I looked over our 2005 expenses. For the life of me, I don't see how it would be much different after FIRE, unless we make some substantial changes (not necessarily a bad thing). The only big one I can see is that taxes will drop from the way-high bracket to maybe 20% marginal bracket.
Expenses that almost surely will drop: commuting and clothing.
Expenses that almost surely will rise: recreation, travel, own cell phone bill.
Expenses that almost surely will not change: housing, food, insurance, everything else.
Either I'm seriously overlooking something, or we'll be spending about the same as we do now, except taxes.
What happened to you? What percent of pre-FIRE did you really use post-FIRE. What am I missing?
So I looked over our 2005 expenses. For the life of me, I don't see how it would be much different after FIRE, unless we make some substantial changes (not necessarily a bad thing). The only big one I can see is that taxes will drop from the way-high bracket to maybe 20% marginal bracket.
Expenses that almost surely will drop: commuting and clothing.
Expenses that almost surely will rise: recreation, travel, own cell phone bill.
Expenses that almost surely will not change: housing, food, insurance, everything else.
Either I'm seriously overlooking something, or we'll be spending about the same as we do now, except taxes.
What happened to you? What percent of pre-FIRE did you really use post-FIRE. What am I missing?