What do you consider safe?

[audreyh1]

This looks like a CHATGPT response.

Sure does!

 

[Drake3287]

Where about's in Italy have you been staying or even half thinking of moving to? My wife and I also go to Italy almost every year and of course half think about the same thing as you.

So far all of our trips have only been 2 weeks though. Big difference from 2 months. Agree, eating out in Italy is cheap compared to here in the US. Almost cheaper to go out then to cook at home many times.

 

[kgtest]

Anything above 78% success rate would be good for me. 85% would make me feel good. 100% is probably "overkill".

 

[flyingaway]

Anything above 78% success rate would be good for me. 85% would make me feel good. 100% is probably "overkill".

I think that OP was saying to spend 68% of FIRECal saying to be 100% success. That is super safe. If 4% is 100% success rate, the OP is using 2.72%.

 

[lesjrp]

This looks like a CHATGPT response.

Yes, for sure. Or a writing instructor.

 

[Chuckanut]

We just spent 6 weeks in Mazatlan. We get together with a few different groups semi regularly. Of the dozens of people we've met I've noticed that there are a lot of retirees in their 60's and 70's, but almost none in their 80's.

.

As I age I realize I need more financial security in the area of 1-5 years along with longer term inflation protection. My COLA-lite pension, SS at 70, and equities should help with the longer term inflation issue. Within 5 years, I am working on a ladder, especially strengthening the steps from three to five years. Hopefully, I will be able to bet some non-callable 3 to 5 year money closer to 6%. We'll see.

Note: I user the term COLA-lite to describe my pension because while it has a COLA adjustment, it does not fully compensate for the larger increases in the COL that we have seen over the past two years. Under 2% it's fine. Still it's better than no COLA.

 

[Koolau]

My blow has always been over 4. Mostly 5 to 7. Last year 8.6 percent (yeah, bought the boat)

Now going on 10 years retired and I've still got more dough than I started with.

Yeah, I read the "safe" 4% stuff and yeah, I was a bit concerned. But it seems like before I just worried too much -

True, because you already know how to cut back should that ever become necessary. I'm trying to adopt your attitude (though I'm still a bit behind your percentages.) For one thing, the 30 year retirement no longer applies to me.

 

[RobbieB]

Yeah, me neither. Which adds more to "allowable spending" amount. I'm also going to wait until 70 to claim SS on my account. Still collecting from deceased wife's account. That will more than double SS income which will further reduce my drag.

All in all, looking pretty good -

 

[Koolau]

Yeah, me neither. Which adds more to "allowable spending" amount. I'm also going to wait until 70 to claim SS on my account. Still collecting from deceased wife's account. That will more than double SS income which will further reduce my drag.

All in all, looking pretty good -

Sounding pretty good. BTD here you come!

We will be watching the BTD thread with great anticipation. Aloha.

 

[NoEZmoney]

One thing's for sure -- you'll never be as young as you are now so enjoy Italy.
We are looking at France for the easier long-stay visa for retirees. We go to Italy, Greece, Croatia, Spain, Portugal, and France. So easy to get around thanks to low-cost air fares and fast trains.

Italy is simply awesome. There are quirks for long-stay residency and the bureacracy is not for impatient types. We're planning on ramping up from 30 days to 60 days and then up to 60. We'll likely get the long-stay Visa once we get a fix on where we will get a long-stay rental...likely Occitanie area.

Get out and enjoy -- your FIRE Calc looks good and you can always change plans if money gets tight.

 

[Old Microbiologist]

Italy is very nice, but is also quite expensive compared to other European countries. We decided to retire to Hungary which is equally nice and only a 5 hour drive to Italy. We are on Permanent Resident visas and have National Health Insurance ($25 a month per person) that also covers medical in all EU countries. Dental is even less expensive here and Hungary is a dental tourism center. We bought a beautiful home in a destination resort that has increased in value 150% in 13 years not that we plan to sell.

Regarding aging and travel as one person observed, there aren't many people over 80 traveling. This is a real phenomenon and as my wife is now 75 and I am 70 our travel is limited compared to previously. I can still do everything but she is much less mobile than before since developing atrial arrhythmia and other assorted non-lethal but problematic ailments. We still do driving trips to wonderful places around Europe but she no longer can hike or do long walks. I am sure my days are coming eventually but I maintain a high state of fitness although injuries (I sprained a shoulder) take months to heal now. We probably will end up doing cruises like all other older people end up doing. We took a 6 weeks trip to China and roughly half of the Americans in the tour were aged over 75. Many were on their 50th or greater cruise so this is a thing for older people. Some cruise constantly one trip after another. I am sure many, like us, overplanned their retirements. We don't spend even 25% of what we planned for but we planned for retirement in the US. Moving to Europe was vastly less expensive, particularly medical coverage. Plus benefits such as no property tax, no death tax, low crime rates, cheap house and car insurance. These all factor in with low cost of living although this year things have dramatically increased such as food prices and energy. They are still within our budget and should recover somewhat. Hungary is also self-sufficient in food so is not experiencing insane problems due to suicidal sanctions such as in the UK. We also have a government that supports the people rather than a political agenda supporting a western hegemonical nation not in Europe. It will be interesting to watch this unfold.

I have many Italian friends living in Italy and none recommend moving there which is why we ended up in Hungary which enjoys a similar climate.

 

[mickeyd]

Retired 20 years. Ages 78/74. Everything that we projected for retirement was a lowball. Thus we still have income (pensions, disability, SSA) that surpasses our expenses (even tho we live @ a CCRC). RMD annually are either donated to charity or reinvested for future fun and games.

IOW our projections were a big guess that was way off, but in a good way.

Do the best you can with what you have to work with. Save/invest early and often in low-cost index funds that are diversified. Enjoy the ride.

 

[daylatedollarshort]

We have friends in their 80s and even 90s still active in sports and traveling.