The enemy of a good plan is a perfect plan.

[heavyseve146]

I'm a 73 year old longtime lurker/member and have never introduced myself. My wife and I are comfortable in our retirement, now in Arizona, but not 'rich.' I also regularly check the bogleheads forum and am extremely grateful for the wealth of knowledge I have gained over the years here and there.



I do use a 3 fund portfolio of both the Vanguard and Schwab ETF's for US and international equities and US fixed income. I also have power of attorney for my 2 sisters retirement accounts and utilize the same 3 fund portfolio with more conservative allocations.


I'm a do it yourselfer, always have been. I've also put my toes in the water with advisors and assets under management fees, but not for a long time. I hope you've seen the statement in my title before because I often study a topic too long before taking action. I've learned many lessons via my delays and/or mistakes.


I do regret using capital gains at low tax rates to fund the early years of our retirements. I didn't know early enough how useful making Roth conversions from our regular IRA's could be during years of lower income.


Best wishes to everyone as you start/continue your journey of early retirement and beyond.

 

[Sunset]

Welcome,

Feel free to chime in more.

We considered moving but never got around to it, now not sure we want to as it's just a lot of effort, and uprooting.

Where did you live before AZ ?

 

[pacergal]

Welcome. Glad you joined up and look forward to hearing more from you.

 

[target2019]

What a nice intro. Keep up the good work.

 

[Sunset]

I'm a 73 year old longtime lurker/member and have never introduced myself. My wife and I are comfortable in our retirement, now in Arizona, but not 'rich.' I also regularly check the bogleheads forum and am extremely grateful for the wealth of knowledge I have gained over the years here and there.


....
Best wishes to everyone as you start/continue your journey of early retirement and beyond.

ha ha ha .... just noticed the "beyond" part.... personally I'm hoping for a lot of delays before that travel happens..

 

[heavyseve146]

Welcome,

Feel free to chime in more.

We considered moving but never got around to it, now not sure we want to as it's just a lot of effort, and uprooting.

Where did you live before AZ ?

Thank. North of Chicago near Lake Michigan.

 

[flyingaway]

It is a good plan if you have enough and are happy.

 

[Kings over Queens]

Welcome and thanks for sharing.

So much to learn.

 

[donheff]

Welcome. My sisters and parents eventually made their separate ways from Chicago to AZ. My brother and I went east. I still feel like a Chicagoan even though I have been gone for going on 44 years.

 

[badatmath]

Welcome from a fellow Arizonan.

 

[Palmtree]

Welcome aboard. I think I've been here for around 9 years or so. Our assets are in the big 3 too but I still check in every few days just to see what I've missed.

 

[ut2sua]

Agree with OP.
In fact, I think the enemy of life is wanting/expecting a perfect plan.
Thanks for sharing your the Roth conversion view point.
Welcome

 

[MarieIG]

Welcome to the forum. I hope to hear more from you in the future.

 

[HI Bill]

Agree, there is no perfect (retirement) plan. If only we knew how long we were going to live, how healthy we will be when, and what the market returns will be, this whole ER thing would be so much easier.

Most here strive for 95-100% success rate in FIRECALC. I did that, along with Monte Carlo simulators, along with the Rich, Broke or Dead Calculator, and the MarketWatch Retirement Planning Tool (https://www.marketwatch.com/(S(jedo...rement-planning-calculator?mod=article_inline). Oh, and the formerly available Vanguard Advisor Services "Your Financial Plan". In the last plan I had prepared by VG was in May of 2019. It showed success with a spending level of $125K. I w$rked another 20 months after that, and saw my portfolio increase by more than a million! When I saw my investment returns eclipsing my contributions to my 401(k), I was pretty sure that I was 'good enough'!

 

[LateToFIRE]

Agree, there is no perfect (retirement) plan. If only we knew how long we were going to live, how healthy we will be when, and what the market returns will be, this whole ER thing would be so much easier.

Most here strive for 95-100% success rate in FIRECALC. I did that, along with Monte Carlo simulators, along with the Rich, Broke or Dead Calculator, and the MarketWatch Retirement Planning Tool (https://www.marketwatch.com/(S(jedo...rement-planning-calculator?mod=article_inline). Oh, and the formerly available Vanguard Advisor Services "Your Financial Plan". In the last plan I had prepared by VG was in May of 2019. It showed success with a spending level of $125K. I w$rked another 20 months after that, and saw my portfolio increase by more than a million! When I saw my investment returns eclipsing my contributions to my 401(k), I was pretty sure that I was 'good enough'!

Just tried the MarketWatch online tool. Not bad - just enough customization and visualization. Also, Rich, Dead or Broke is one my favorites - really puts things into perspective. And of course FIRECALC is the ultimate. For serious Excel/Finance geeks, there is also Retiree Portfolio Model developed by some boogleheads.

 

[HI Bill]

Just tried the MarketWatch online tool. Not bad - just enough customization and visualization. Also, Rich, Dead or Broke is one my favorites - really puts things into perspective....

The MarketWatch tool (and Rich, Broke or Dead) don't seem to account for SORR. Or maybe they do, but you can't see it in their annual smoothed projections? I like the MarketWatch phases of life that correlate to spending. Like Bernicke's Reality Retirement Plan, I've experienced loved ones whose spending plummeted in their 70s, only to rise during poor health later.

 

[Koolau]

Thanks for introducing yourself. Looking forward to hearing your retirement adventures and advice. Aloha

 

[Bigdawg]

Thank. North of Chicago near Lake Michigan.

Wisconsin?

 

[ERD50]

Wisconsin?

Yea, I was thinking not much between Chicago and the border, but a quick scan of google maps shows ~ 13 towns. Some very high end, as Chicago had the Burnham plan that left the lakefront open to the public, no mansions on the Chicago lakefront, mostly parks.

https://en.wikipedia.org/wiki/Burnham_Plan_of_Chicago

So if you wanted and could afford a mansion on Lake Michigan, you did it in one of those towns to the north.

-ERD50

 

[Koolau]

Agree, there is no perfect (retirement) plan. If only we knew how long we were going to live, how healthy we will be when, and what the market returns will be, this whole ER thing would be so much easier.

Most here strive for 95-100% success rate in FIRECALC. I did that, along with Monte Carlo simulators, along with the Rich, Broke or Dead Calculator, and the MarketWatch Retirement Planning Tool (https://www.marketwatch.com/(S(jedo...rement-planning-calculator?mod=article_inline). Oh, and the formerly available Vanguard Advisor Services "Your Financial Plan". In the last plan I had prepared by VG was in May of 2019. It showed success with a spending level of $125K. I w$rked another 20 months after that, and saw my portfolio increase by more than a million! When I saw my investment returns eclipsing my contributions to my 401(k), I was pretty sure that I was 'good enough'!

I still recall that day when my investment results eclipsed my decent sized yearly salary. I had recently had my retiree benefits vest (pension and retiree health care.) At that point, I began calling myself "Financially Independent" though I stayed several more years. I had w*kred my way into a position that I really loved. The minute I no longer enjoyed what I was doing, I became Early Retired.

NOT a perfect plan but a good plan and it's still w*rking 18 years later. YMMV

 

[brett]

We zigged and zagged our way to early retirement and financial security. We had short and long term plans.

We never let those plans get in the way of grabbing an unanticipated opportunity that came along. The last one for me was accepting a job leaving a city that we both loved and that our teenage children did not want to leave. This was definitely not in either of our plans.

Nine years in that job were the most lucrative of my career and served to set us up for early retirement. We are thankful today that we grabbed the opportunity.

The one constant plan for us has been living below our means, investing wisely ,etc. All of our plans, including these, have been very flexible. In my experience it pays to bob and weave as necessary to avoid being in a rut or making errors simply because of a desire to stick to a plan when circumstances are changing.

 

[TickTock]

Excellent thread title!

I want a "good" plan that will perform "well" under "a variety of market conditions" and won't implode.

A "perfect" plan is out there... unfortunately, it requires knowing things like rate of return on different assets in advance, which is impossible...

 

[DrRoy]

"Plans are of little importance, but planning is essential."
“He who fails to plan is planning to fail.”

Winston Churchill

 

[VanWinkle]

You will find that many here appreciate the simple portfolio and the time it gives you to live your life in retirement. There also are many that like to have their hands on the controls at all times and actually enjoy the work it takes. I am in the same camp as you!
Thanks for the introduction and wisdom you have expressed.