I'm relatively frugal now, work is busy enough I don't have time to spend that much on leisure (that's mostly a joke)
My wants in retirements are 110% of current expenses + an extra 15% for gogo years until age 75.
My floor is 80% of current expenses, so not crazy tight by any means, but cut down on travel and maybe only drink wine on Sunday.
I'm planning on using a variable withdrawal rate (think ABW, VPW, TPAW...) so I expect a fait amount of variations depending on market. That means I mostly need to avoid commitments of money over time (debt on a second home, a fancy car...)anything that's not easily terminated if the market goes south. Perfect for spending lavishly on travel when money is good.
I AM counting on social security to provide a large part of my floor. I will be in trouble should SS completely disappear, but simply needs to adapt if it gets cut by 25% or whatever.
I can run a historical simulation of my withdrawal strategy. Today it kisses that 80% floor for a few years when simulating retiring in 1966, So any delay from now on is to do better than my minimum on the historical worse.
The house is not counted in assets, so that me insurance card
I will retire much earlier than 25x, let alone 35x and will likely sleep very well at night
My wants in retirements are 110% of current expenses + an extra 15% for gogo years until age 75.
My floor is 80% of current expenses, so not crazy tight by any means, but cut down on travel and maybe only drink wine on Sunday.
I'm planning on using a variable withdrawal rate (think ABW, VPW, TPAW...) so I expect a fait amount of variations depending on market. That means I mostly need to avoid commitments of money over time (debt on a second home, a fancy car...)anything that's not easily terminated if the market goes south. Perfect for spending lavishly on travel when money is good.
I AM counting on social security to provide a large part of my floor. I will be in trouble should SS completely disappear, but simply needs to adapt if it gets cut by 25% or whatever.
I can run a historical simulation of my withdrawal strategy. Today it kisses that 80% floor for a few years when simulating retiring in 1966, So any delay from now on is to do better than my minimum on the historical worse.
The house is not counted in assets, so that me insurance card
I will retire much earlier than 25x, let alone 35x and will likely sleep very well at night
Statistics: Posted by Raspberry-503 — Fri Oct 18, 2024 11:04 pm