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flyingaway

Do you like money? That is the real question.

flyingaway

In that case, after you won your game, stop playing with bitcoin, play golf instead.

flyingaway

This thread is about what did the original statement mean, not about that any one of us thinks what is the best or better strategy.

Since the original statement author is still there, maybe we can ask him/her to clarify it.

flyingaway

Find a like-minded person to get married, your combined money doubles and you can FIRE instantly.

flyingaway

I think these countries are either closed to foreigners or have required quarantine time right now. In regular times, you can go to Thailand, e.g., Bangkok, and just walk on the streets. Then go to Ching Mai or some beach cities, such as Purket or His Hin, to have some fun. Night markets are to have...

flyingaway

How about the market only drop 49%? In March I decided I was going to buy some if the market dropped 40% from the top. Eventually I pulled the trigger. Only later had I figured out that the market hadn't quite dropped 40% and not sure it ever did. Thank goodness for my error. In the end it probably...

flyingaway

I have some ants in my house under the wood floor. Each summer they come out. I feed them with terro and they disappear after a few weeks. But they come back the next summer. I really don't know what to do with them. I think taking out of wood floor would be a huge project and may cost a lot of money.

flyingaway

If it is a real coasting, i.e., you just do the minimum at work, the time is to do it after you achieve financial independence. In other words, why not coasting when you are in One More Year.

flyingaway

I took pain to rebalance to bonds two days ago, which spoke out my market expectations.

flyingaway

How about the market only drop 49%?

flyingaway

OK. Let's play the game. If I have $5M today, I would not retire because the market is high. Tomorrow, the market crashes 50%, I will have $2.5M, should I retire? Of course not. What is the correct action required here? Today, I have $5M, if that is my number, I should sell all stocks and buy bonds....

flyingaway

Reading all the posts, it seems that the "number" is different for different people. I guess that the OP's implicit meaning for the "number" is that number that you intend to retire once you hit it. But in this market, you may hesitate. If your number is just something for a refe...

flyingaway

Have you not heard about the 4% rule?

flyingaway

This call is obviously suspicious. Why should a department bother to call you if they denied a credit card application?

flyingaway

Sure, but if he takes that $200k extra, and keeps it in cash, he can use it to bridge those 1-3 years before his planned retirement date, which reduces the sequence of returns risk. I'm in the same boat. Health care is the main unknown holding me back. My wife needs a lot of doctor visits and has R...

flyingaway

What is crazy is that once you hit 25x each additional year worked provides well over 1 year expenses. It’s so easy to just keep working and watch compounding do it’s magic. This is a really interesting point. At 8% return on your portfolio, 25x will grow to 27x without any additional savings. So O...

flyingaway

For most people, doing OMY is for money. Even if they don't need money, more money does not hurt. More money gives you more safety, more options to spend (or not) in the future, can do a lot of things with more money. Many people do not want to admit, but that is the truth under some grander disguis...

flyingaway

People on this forum are beating the asset allocation and Roth conversion to death. In my opinion, if you are in a situation to have a lot of money at RMD, you are in a great shape. I would worry more about the things that I want to do in retirement and make the retirement worth my time, money, and ...

flyingaway

I was think to retire in a few years, then next, and probably this year. A lot of things can happen in the next few months. Overseas travel is something that is uncertain. I might just walk out of my office and never return, although we are obligated to give 6 month notice. What happens if you don'...

flyingaway

I was think to retire in a few years, then next, and probably this year. A lot of things can happen in the next few months. Overseas travel is something that is uncertain.

I might just walk out of my office and never return, although we are obligated to give 6 month notice.

flyingaway

KlangFool, I know you like to argue with people. I'm not talking about if one should do OMY or not. I just want to know what is considered as OMY. For your example B, the person has no intention to retire any time soon, he is not doing OMY, in my opinion. Maybe I am not one of the "cool kids&q...

flyingaway

I think I am also officially in OMY. I am considering to retire at the end of this year or next year. My unemployed son makes my situation a little bit complicated. One voice tells me to get out to enjoy life, another void tells me that the market is going to tank soon. So I re-evaluate my situation...

flyingaway

Three cold days in early April killed most of the flowers of my peach and pear trees. This is likely to be another year of no harvests for the frit trees. Last year, a late freeze in May killed almost all harvests.

flyingaway

If there is no rain, once a week is enough.

If you did not plant a fruit tree, I doubt that your shrub investment will be fruitful.

flyingaway

You can, if you are pretty much certain about your expenses. Honestly, if it were me, I'd forego all that moving/traveling around. Logistically, it's only going to get harder as you get older. I'd sell the apartment in Asia in a heartbeat. Is it sitting empty? There are many cities in the U.S. wher...

flyingaway

OMY can happen on all kinds of reasons. I just updated (OMY'ed) myself upon realizing ACA portion was probably underestimated at 6k/year, now 10k/year. Another big factor is inflation, as prices may have inflated between when you planned your estimates vs when you're actually retiring. It seems tha...

flyingaway

When the market crashes, you wish you had more cash.

flyingaway

We're retired, late 60s / early 70s, in a small town in the South, with a paid-off house. Last year we spent a total of about $53K, of which: $8K income tax (fed + state) $12K donations (charitable + political) $7K Medicare premiums $9K housing-related (utilities, property tax, insurance, maintenan...

flyingaway

I am at the same age of yours. My networth is about 700-800K less than yours but I spend a little less than you. Kid is a little older than yours. I work in tech so I feel stressful daily. In addition, my company keeps on doing layoffs every 6 months. I do not think I can afford retiring any time s...

flyingaway

I'm wondering if people include their car depreciation in their spending. I'll be 60 in June and my finances are much like the OP (wife is 10 years younger). Also, like the OP, my expenses are about 125k/yr. and must be brought down. I have been able to work out a planned budget of about 100k. I ha...

flyingaway

It seems every “can I retire” thread I’ve seen has someone getting a pension or company paid health benefits. That certainly won't be true for me. I'll probably have a 13 gap between retirement and Medicare. As of now, I would personally lean toward a health share ministry. I don't know if that one...

flyingaway

It might be your view points. When you take money out, it will sell your money market fund and put it in the account (core sweep account) that you withdraw money from, it looks like taking money twice, as you see -xxx twice, but the balance should be OK.

Have you checked the balance to be OK?

flyingaway

I just wanted to put it behind me, so I filled it yesterday.

flyingaway

You could both retire if you don't like to make more money. Your social security estimate is probably too light. I would guess it is about $16k at 62 for each of you. Which is likely to be around $60k combined if claimed at 70. I don't know what is the definition of burnout. But I really don't want ...

flyingaway

I am preparing my 2020 tax return. Suppose I have $10,000 in dividends and $20,000 in capital loss (March 2020 sale of stock funds, aka capital loss harvesting) in my brokerage accounts. I though I could get $10,000 capital loss for the total of 2020 investment. However, the H&R Block tells me t...

flyingaway

HomerJ wrote: ↑Fri Apr 02, 2021 10:19 pm
flyingaway wrote: ↑Thu Apr 01, 2021 7:08 pm 6-pack European beers at Aldi has increased price from $5.99 to $6.99.
30-pack of Bud Light has gone DOWN in price from like $22.00 to $19.00.

But that's just water anyway, right?

Yes, Bud Light is water.

flyingaway

I’m certainly not a “high spender”, but I do really enjoy high end equipment. Mostly fishing tackle, but also shotguns and other gadgets. The value of my fishing tackle would probably shock most ($500 plus reels and individual lures that are worth more than $500) , but I’ve acquired it deliberately...

flyingaway

I retired in 2006 just before the crash of 08/09. I cut expenses a bit for a short time, cancelled a trip or two, painless and very short lived. Onwards and upwards from then. I think flexibility is key. Spend a little more in good times and maybe a little less in bad times. My retirement spending ...

flyingaway

I like the bottom up budget approach. In fact, I can say that our minimum budget (normal living expenses, health insurance & costs, taxes, etc.) can be bounded at $60k. It is the discretionary spending that is difficult to estimate, travel $20k+, that "+" could be very large if I reti...

flyingaway

So those are my two benchmarks for deciding if I could retire. When I pulled the trigger and retired 20 days ago, we had enough to cover the base budget and $50k of annual discretionary spending. If the market went down 50% on Monday, we would stick to our base + $25k plan for a few years and see h...

flyingaway

Oops, I just realized that this is an old thread in 2015. I answered my number of financial independence at that time, which was $2MM. I passed that number and I think I am ready to retire.

flyingaway

Several people are emphasizing expenses versus a number. Actually, the number = annual expenses x the number of years expected in retirement.

I think the number is easier to understand.

flyingaway

I am ridiculously conservative and discount our net worth around 50%. We could get by on a 1-2% withdrawal rate. I have to work for probably another 10 years for that kind of conservatism. At this time, I really want to get out if my portfolio is accurately reflecting its value regarding retirement...

flyingaway

skor99 wrote: ↑Fri Apr 02, 2021 10:24 am OP, Just go to 100 % cash.. You can surely trust that. Get back in when you think the market is at more reasonable levels , which btw could be higher than what it is now

I look at other threads on this forum, more people are talking about hyper-inflation.

flyingaway

I am ridiculously conservative and discount our net worth around 50%. We could get by on a 1-2% withdrawal rate. I have to work for probably another 10 years for that kind of conservatism. At this time, I really want to get out if my portfolio is accurately reflecting its value regarding retirement...

flyingaway

I decided to retire and start to spend money. My thinking is that no market can take back the money that I have spent.

flyingaway

My perspective: 1) I am choosing to use a 3% WR for planning purposes at a 60/40 allocation. 2) I want 3 years of expenses in cash at the time of retirement. 3) My retirement plans do not contemplate or rely on receiving SS. This is unnecessarily conservative, so I don't feel the need to also hairc...

flyingaway

6-pack European beers at Aldi has increased price from $5.99 to $6.99.

flyingaway

I am ridiculously conservative and discount our net worth around 50%. We could get by on a 1-2% withdrawal rate. +1 to Tomato's thoughts. When I retired, my withdrawal rate was 2%, so I knew an market drop of 50% would not have me eating dog food. Today 5 years later, and yes it's be a good run, my...

flyingaway

I currently discount the equity portion of my portfolio by 45% , and plan for retirement using the 4% rule after that. I also discount estimated SS benefits by 25% based on a number in the SS governor's report. This is probably being over conservative, but I'll loosen up later. It's much easier to ...

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