What did you do when you won the game? Edited

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Frugalbear
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What did you do when you won the game? Edited

Post by Frugalbear »

There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?


Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!
Last edited by Frugalbear on Mon Aug 10, 2020 4:34 pm, edited 1 time in total.
jebmke
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Re: What did you do when you won the game?

Post by jebmke »

No change. but, to be fair, I have no idea when we had enough to retire - I suspect it was a long time before I even seriously considered it. Money wasn't a consideration except to the extent that it needed to be a sufficient condition.
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willthrill81
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Re: What did you do when you won the game?

Post by willthrill81 »

When do you know you've won the game?
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marcopolo
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Re: What did you do when you won the game?

Post by marcopolo »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?

Can you define what you mean by "won the game"?

We retired a couple years ago and moved to Hawaii. Everyday I wake up and do interesting things, so I feel like I am always "winning".

On the other hand, we hopefully have many years of life left to live (early 50s), so the "game" feels a LONG way from over.

We did gradually lower our equity exposure from 70/30 to 60/40 over the last few years, and will probably hold there for the foreseeable future.
Once in a while you get shown the light, in the strangest of places if you look at it right.
Michread
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Re: What did you do when you won the game?

Post by Michread »

We retired at age 55 just over 2 years ago. We started to travel and spend money but now that has come to a halt. Covid, covid go away, do not come back another day! :oops:

Now we are looking at a lifestyle change and perhaps buying a second home. We will be spending the month of November in the Villages, Florida and then 3 weeks in Daytona Beach Shores in February to check out active over 55 places.
Early retirement 2018
MikeG62
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Re: What did you do when you won the game?

Post by MikeG62 »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discipline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?

Not sure I am the target you are looking for an opinion from because I don't think we led the boglehead lifestyle, other than living below our means (i.e., spending considerably less than I was earning) and investing primarily using a low cost index approach. Our approach toward retirement (and determining when we had won the game so to speak) was to have sufficient assets to allow us to live the same lifestyle we enjoyed while I worked in retirement. In actuality, we spend quite a bit more in retirement because of all the T&E we are doing (pre-Covid) and health care costs.

It's no more complicated than that.
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sport
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Re: What did you do when you won the game?

Post by sport »

We bought our one floor retirement house that cost more than the old one. We bought it about one year after I retired.
Woodshark
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Re: What did you do when you won the game?

Post by Woodshark »

About five years ago my wife reached early retirement as an educator and our investments reached a level that indicated we could retire in our mid 50's with a comfortable margin. Since retirement our lifestyle has not really change. Decades of being savers and penny pinchers has ingrained in us a thrify predisposition. The first two years, we were very careful to not increase our spending over what we had budgeted. After two years I quit checking because it was obvious that we were coming in under budget without even trying.

Since then the market has been very good to us and our investments have done well. With the current investment levels, we know that we could be much more carefree in our spending, but a lifetime of being frugal is hard to overcome.

My wife still clips coupons and I still do all the maintenance on the house and cars. We could easily pay full retail and hire it out the chores but it's just not in our nature.

Now when are are free to travel, post Covid, I think the floodgates will open and we will start spending like drunken sailors.
flyingaway
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Re: What did you do when you won the game?

Post by flyingaway »

I just figured out some new games and keep playing.
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Re: What did you do when you won the game?

Post by SevenBridgesRoad »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process? stopped accumulating.
2. Do you ever stop living this way once you win the game? we still live below our means but remain very comfortable. Waking up is less disciplined. No alarm clock.
You might search this topic...gets rehashed a lot. Willthrill hates the whole won the game thing. :happy
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GerryL
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Re: What did you do when you won the game?

Post by GerryL »

A couple of years before I planned to retire, I had a Vanguard CFP evaluate how well my portfolio would do based on living to 100 and a specified spend in the starting year (to increase for inflation annually). Best case scenario, my portfolio would be much larger when I died. Worst case scenario, I would have about the same amount when I died as when I stopped working. This was actually unsettling, but it seemed I had "won the game." I stopped worrying about finding a perfect decumulation strategy. All I need to do is keep my spending within my self-imposed limit.

As I retired I started to gradually loosen my purse strings, but always considering value. After a few years in retirement, I had my plan run again with a spend target that was about 40% higher. Not that I needed so much more, but I was not aiming to increase the size of my portfolio. The results, while not as stunning, made me feel very confident that I can enjoy a financially comfortable retirement.

I am spending a bit more freely now, but I have never even hit my spend target. This year, with all travel cancelled, I will be way below. I keep a running tab of how much I come in below my target and hope to have my plan run every 5 years or so. I don't need to spend more, but I will want to see the effects of increasing QCDs as my required distributions increase.
RoadRat
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Re: What did you do when you won the game? Edited

Post by RoadRat »

I'm still trying to figure out my "personal number."
misterjohnny
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Re: What did you do when you won the game? Edited

Post by misterjohnny »

I won the game officially when I turned 55 and my pension vested after 37 years at the same company. I retired two weeks later. In the intervening two weeks I bought a boat (used, of course) and have used it frequently in the last three months.

As soon as we can travel again, the biggest change will be that international flights we will splurge for business class (kids will still have to fly coach if travelling with us).
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Re: What did you do when you won the game? Edited

Post by Normchad »

I think I might have won the game, but I’m honestly not sure. I guess you could say I’m running up the score now....

When the game is finally over, I’ll quit my job, sell my house, and move to some other place in the country. Haven’t figured out where, but I’d like a nice climate and a college town kind of vibe.

Then I’ll just putter around for the rest of my days.....
EddyB
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Re: What did you do when you won the game?

Post by EddyB »

willthrill81 wrote: Mon Aug 10, 2020 3:35 pm When do you know you've won the game?
How do we even find out what the rules are or how the scoring works?
sailaway
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Re: What did you do when you won the game? Edited

Post by sailaway »

With your new definition, one of the first things we did was to sign a new 2 year lease to continue to live the same lifestyle while building a bigger buffer.

I can see "won the game" for those who have plenty to live their lifestyle for the remainder of their life expectancy even without growth. But achieving FI? I haven't won anything, I have just moved into a strategically advantaged position. I have the high ground, but the battle has only begun to be waged.
Last edited by sailaway on Mon Aug 10, 2020 7:44 pm, edited 2 times in total.
Stubbie
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Re: What did you do when you won the game? Edited

Post by Stubbie »

After the game was won, I celebrated with friends and family, retired from my job, and have occupied my time doing exactly what I want every day. My stress level is nil, my relationships have taken on a much deeper level, I have unlimited time for my grand-kid, and I pursue knowledge for its own sake. I wake up every day feeling like the luckiest guy in the world and take great comfort in knowing that all those years of hard work paid off handsomely. My only regret is that I didn't read the rule book sooner so that the game would have been won years earlier!
BH_RedRan
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Re: What did you do when you won the game? Edited

Post by BH_RedRan »

I won the game when I married my wife. What I did when I won the game? Stayed married to my wife.

Oh, you're talking about money. Still staying well within my means. I'm more relaxed and less worried about retirement now. Recently retired.
RoadRat
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Re: What did you do when you won the game? Edited

Post by RoadRat »

Stubbie wrote: Mon Aug 10, 2020 7:07 pm After the game was won, I celebrated with friends and family, retired from my job, and have occupied my time doing exactly what I want every day. My stress level is nil, my relationships have taken on a much deeper level, I have unlimited time for my grand-kid, and I pursue knowledge for its own sake. I wake up every day feeling like the luckiest guy in the world and take great comfort in knowing that all those years of hard work paid off handsomely. My only regret is that I didn't read the rule book sooner so that the game would have been won years earlier!
Bahhhh....where's the rule book. Would love to have some guidance on figuring out my "personal number"

And more importantly congratulations on your success.
jarjarM
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Re: What did you do when you won the game? Edited

Post by jarjarM »

Keep working some more, rather be safe than sorry. :oops:
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Re: What did you do when you won the game? Edited

Post by Longdog »

RoadRat wrote: Mon Aug 10, 2020 7:24 pm
Stubbie wrote: Mon Aug 10, 2020 7:07 pm After the game was won, I celebrated with friends and family, retired from my job, and have occupied my time doing exactly what I want every day. My stress level is nil, my relationships have taken on a much deeper level, I have unlimited time for my grand-kid, and I pursue knowledge for its own sake. I wake up every day feeling like the luckiest guy in the world and take great comfort in knowing that all those years of hard work paid off handsomely. My only regret is that I didn't read the rule book sooner so that the game would have been won years earlier!
Bahhhh....where's the rule book. Would love to have some guidance on figuring out my "personal number"
As a rough starting point, to figure a ballpark personal number you need to have a sense for what your annual expenses will be when you retire. Multiply that by the number of years you expect in retirement. (Some would say multiply it by 25.) Over time, you can refine that number based on a better understanding of your future expenses, other income streams like social security, a pension, inheritance), expected taxes, your asset allocation based on your risk tolerance, the location of your assets (e.g., taxable, pre-tax accounts, Roth accounts), yadda yadda. In my opinion it's an evolving number and you are free to change it at any time for any reason!
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Re: What did you do when you won the game?

Post by Golf maniac »

Michread wrote: Mon Aug 10, 2020 3:49 pm We retired at age 55 just over 2 years ago. We started to travel and spend money but now that has come to a halt. Covid, covid go away, do not come back another day! :oops:

Now we are looking at a lifestyle change and perhaps buying a second home. We will be spending the month of November in the Villages, Florida and then 3 weeks in Daytona Beach Shores in February to check out active over 55 places.
We are in the Villages. Been here about 18 months. Hopefully more things will open up by the time you get here. It is an incredible place when everything is open and Running. Best of luck on deciding. Lots of great places in Florida.
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Re: What did you do when you won the game? Edited

Post by livesoft »

1. I became less careful about pissing anybody off, especially at work.

2. I got cable internet.
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dbr
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Re: What did you do when you won the game? Edited

Post by dbr »

I don't like the "won the game" metaphor, but that aside, we didn't do anything in particular whenever that might have happened. There has certainly been no issue of all the sudden taking on a less risky portfolio or something. We didn't do anything much either when we retired though there was some finagling about health insurance. It was a bigger change to change everything over to Medicare/Medigap and to elect Social Security when the time came.
Normchad
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Re: What did you do when you won the game? Edited

Post by Normchad »

I have not won the game yet. I came up with “my number” a very long time ago, and somehow came up with $4M. I’m not there yet, but I still think it’s the right number for me.

But, we are pretty far along, and it brings great peace of mind. My wife is being recalled to her professional work environment. She doesn’t feel she can do it effectively when remote, and isn’t satisfied that it can be done safely, in person. So she has resigned. This wasn’t planned, she likes her job and was going to work several years more.

The really nice part in all this, is we didn’t think about money for a single second while making this decision. That freedom is just wonderful.
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Re: What did you do when you won the game? Edited

Post by AstroJohn »

Reached a comfortable state about eight years ago and partially retired. Will be fully retired two weeks from now. No changes in lifestyle. To me that was the whole idea. We will just continue to live the way we always have--some travel, when it is safe again, regular dinning out, when it is safe again, regular visits with children and grand children, when it is safe again.
TimeTheMarket
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Re: What did you do when you won the game? Edited

Post by TimeTheMarket »

Stubbie wrote: Mon Aug 10, 2020 7:07 pm After the game was won, I celebrated with friends and family, retired from my job, and have occupied my time doing exactly what I want every day. My stress level is nil, my relationships have taken on a much deeper level, I have unlimited time for my grand-kid, and I pursue knowledge for its own sake. I wake up every day feeling like the luckiest guy in the world and take great comfort in knowing that all those years of hard work paid off handsomely. My only regret is that I didn't read the rule book sooner so that the game would have been won years earlier!
Amazing. I am early 40’s but keep telling my wife I am built for retirement. I have tons of interests and would occupy my time. Realistically 55 is current best guess on date. Could get better if we hit an inheritance (not at all counting on this) or keep getting income boosts. Could be much later if any number of bad things happen! Been saving for 15 years but only really got cracking on it last two or so. Still benefitted nicely from the post Great Recession bull run.
Username is not serious :)
Stubbie
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Re: What did you do when you won the game? Edited

Post by Stubbie »

TimeTheMarket wrote: Mon Aug 10, 2020 9:10 pm
Stubbie wrote: Mon Aug 10, 2020 7:07 pm After the game was won, I celebrated with friends and family, retired from my job, and have occupied my time doing exactly what I want every day. My stress level is nil, my relationships have taken on a much deeper level, I have unlimited time for my grand-kid, and I pursue knowledge for its own sake. I wake up every day feeling like the luckiest guy in the world and take great comfort in knowing that all those years of hard work paid off handsomely. My only regret is that I didn't read the rule book sooner so that the game would have been won years earlier!
Amazing. I am early 40’s but keep telling my wife I am built for retirement. I have tons of interests and would occupy my time. Realistically 55 is current best guess on date. Could get better if we hit an inheritance (not at all counting on this) or keep getting income boosts. Could be much later if any number of bad things happen! Been saving for 15 years but only really got cracking on it last two or so. Still benefitted nicely from the post Great Recession bull run.
TimeTheMarket, you sound a lot like me at your age. I enjoyed my job but I am enjoying retirement more. Freedom is a wonderful thing. During the journey, you may have doubts about whether living below your means and investing for the future will ever pay off. I can assure you, if you are persistent and stick to your plan, it does!
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Re: What did you do when you won the game? Edited

Post by flaccidsteele »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?

Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!
I retired in my 40s and my child is in elementary school

1. I didn’t think I would be raising my daughter in my retirement, yet here I am

2. My kid will grow up and ignore me soon. Then I can try the retirement that everybody else talks about

2. During accumulation I wasn’t on social media. Today I post videos on a few social media platforms with almost 50k followers about how I retired in my 40s. I give my perspective, answer questions, and do live shows. I should’ve got on social media 20 years ago

I’ve technically “won the game” but I still play because I like it, and because it’s simple. Like whack-a-mole

It’s interesting spending all my time with my child. I can see why people who had to work through these years tell me to cherish it. It’s pretty cool 😎
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
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Re: What did you do when you won the game? Edited

Post by reln »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?


Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!
Both no.
UnitaryExecutive
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Re: What did you do when you won the game? Edited

Post by UnitaryExecutive »

I'm more curious about the following questions:

1. What's the best unexpected thing about winning?
2. What's one unexpected bad thing?
3. Anything you'd do differently in hindsight?
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Re: What did you do when you won the game?

Post by MathIsMyWayr »

EddyB wrote: Mon Aug 10, 2020 6:46 pm
willthrill81 wrote: Mon Aug 10, 2020 3:35 pm When do you know you've won the game?
How do we even find out what the rules are or how the scoring works?
If there are no rules in place, you are free to write rules. Napoleon designed his own coronation.
flaccidsteele
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Re: What did you do when you won the game? Edited

Post by flaccidsteele »

UnitaryExecutive wrote: Tue Aug 11, 2020 1:01 am I'm more curious about the following questions:

1. What's the best unexpected thing about winning?
2. What's one unexpected bad thing?
3. Anything you'd do differently in hindsight?
1. Lots of free time
2. Lots of free time
3. Invest much more during crashes
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
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wander
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Re: What did you do when you won the game? Edited

Post by wander »

We continued to do what we normally do.
UpperNwGuy
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Re: What did you do when you won the game? Edited

Post by UpperNwGuy »

I began to take two trips to Europe each year. Everything else is about the same as it was before.
smitcat
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Re: What did you do when you won the game? Edited

Post by smitcat »

"1. Did you do anything that you normally would not have done during the accumulating/building process?"
No
"2. Do you ever stop living this way once you win the game?"
No
We did learn and change a lot in earlier years but that had nothing to do with reaching FI.
Likely the only lesson we mostly got right early on is 'balance' - not living life too much for the present or the future but seeking balance between the two.
smitcat
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Re: What did you do when you won the game? Edited

Post by smitcat »

flaccidsteele wrote: Tue Aug 11, 2020 12:33 am
Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?

Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!
I retired in my 40s and my child is in elementary school

1. I didn’t think I would be raising my daughter in my retirement, yet here I am

2. My kid will grow up and ignore me soon. Then I can try the retirement that everybody else talks about

2. During accumulation I wasn’t on social media. Today I post videos on a few social media platforms with almost 50k followers about how I retired in my 40s. I give my perspective, answer questions, and do live shows. I should’ve got on social media 20 years ago

I’ve technically “won the game” but I still play because I like it, and because it’s simple. Like whack-a-mole

It’s interesting spending all my time with my child. I can see why people who had to work through these years tell me to cherish it. It’s pretty cool 😎
"2. My kid will grow up and ignore me soon. Then I can try the retirement that everybody else talks about"
Well geee lets hope not.
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Re: What did you do when you won the game? Edited

Post by tennisplyr »

I "won the game" when I looked at my life and saw that I was married 40 years, had a daughter and a grandson, had a succesful career, travelled the world, lived in a house my whole life, played a sport that I was passionate about, got a strong education, lived to retire almost 10 years. What did I do, sit back and be grateful.
Those who move forward with a happy spirit will find that things always work out.
SQRT
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Re: What did you do when you won the game? Edited

Post by SQRT »

Never had a “number” yet ended up with more than enough. Been retired 14 years, never heard of Bogle, SWR, or most of the other stuff we now talk about here until quite recently. Lifestyle in retirement is much better than when working. Morbidly obese FIRE. Retired when I got sick of working rather than when I hit a “number”(which I never had). Loved my job for most of my career. Things have worked out exceptionally well despite my apparent lack of knowledge. Lucky for sure.

Some people might think I’ve “won” some kind of game. I don’t-other than a game of luck I guess. Don’t need to take much risk now but since I can afford to, I do. It’s really for the next generation at this point.
Last edited by SQRT on Tue Aug 11, 2020 7:04 am, edited 4 times in total.
gorow
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Re: What did you do when you won the game? Edited

Post by gorow »

We had enough to retire about two years before I actually did. Realized at that point that if I worked two more years, we could then fund our ideal retirement home - which we bought and moved into 18 months prior to retirement. Now judiciously spending on some updates to that home while enjoying the lake life.
Retired 1/1/2019. Not concerned about sequence of returns because two years here taught me what I need to know.
toocold
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Re: What did you do when you won the game? Edited

Post by toocold »

UnitaryExecutive wrote: Tue Aug 11, 2020 1:01 am 1. What's the best unexpected thing about winning?
2. What's one unexpected bad thing?
3. Anything you'd do differently in hindsight?
1) After 4 years of OMY, I got tired of work (despite enjoying it for almost a decade) and I was offered a generous package.
2) Some virus came around that halted all of my summer travel plans
3) (With perfect hindsight) I wish I had not cash out any of my options until February of this year, and invested in FAANG in 2009. Would have added even more to the stache.
Dandy
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Re: What did you do when you won the game? Edited

Post by Dandy »

Once I felt I had "won the game" I roughly followed Dr. Wm Bernstein's idea of having enough "safe" assets to fund retirement to age 90. Later when I took SS at age 70 our income roughly equaled our normal expenses. So I kept the "safe" portfolio to fund my wife's income needs should I die first and she would lose 1/2 of my pension, her SS and be in a higher tax bracket.

A life of being frugal (sometimes being a cheapskate :oops: ) it is hard to go wild spending. Gradually increased our eating out, extra vacation, season tickets to the theater etc. Also, started gifting to children "early inheritance" . I kept our overall allocation to about 45/55 and have been amply rewarded with a nice 10 year bull market. We have been a bit wise and a whole lot lucky.
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Re: What did you do when you won the game? Edited

Post by TonyDAntonio »

I was told 5 years ago by IBM and Ginni Romety that my place in the game was being taken over by guys in Brazil. A month later a Vanguard guy told me that maybe I had won the game. No big changes other than setting up my portfolio to generate a bit more in dividends and no longer reinvesting them. I won't go into the "bit more dividends" remark unless forced. 🙄
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Re: What did you do when you won the game? Edited

Post by CyclingDuo »

Frugalbear wrote: Mon Aug 10, 2020 3:23 pm There is not doubt it takes great discpline, consistency, and forward thinking to live the boglehead life style.

So here are my questions:

1. Did you do anything that you normally would not have done during the accumulating/building process?
2. Do you ever stop living this way once you win the game?


Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!
Many of us have Bill Bernstein's thoughts on the oft paraphrased "once you've won the game, stop playing" in our minds. So when you bring it up - that's the first thing that pops into our heads.

You can hear him say it on a Podcast...

https://podcasts.apple.com/us/podcast/w ... 0437002756

You can read when he says it in one of his books...

“In other words, once the game has been won by accumulating enough safe assets to retire on, it makes little sense to keep playing it, at least with the “number”: the pile of safe assets sufficient to directly provide or indirectly purchase an adequate lifetime income stream.”

Bernstein, William J (2012-06-18). The Ages of the Investor: A Critical Look at Life-cycle Investing (Investing for Adults)


That basic premise gets drilled down in many of his interviews that he has done over the years to having 12 years of expenses from your risk portfolio set aside in safe assets, and the other 12 years of expenses will be derived from Social Security, that in combination with the safe assets you have set aside, will be your total. The rest of your portfolio you are more or less managing for your heirs or charity.

Or, you can read Bernstein's excellent primer "If You Can" where he says...

The name of the game is to accumulate around 12 years of living expenses, which, combined with Social Security, should provide for a reasonable retirement. How did I arrive at 12 years of living expenses? The average person needs to accumulate about twenty-five years of living expenses, and I'm assuming you'll be getting about half of that from Social Security.

https://www.etf.com/docs/IfYouCan.pdf?_ ... pYh4Gzm4Kh

Frugalbear, you have included the element of retire to what most of us think of when we hear the "won the game" aspect that we associate with Bernstein's version which does not necessarily always include the element of retire as it is more centered around the asset allocation and portion of it set aside to fund the retirement expenses once you do get there (retirement). Bill is there money wise. He's 72. And he is still working even though his finances are in order to not be working.

Your version...

Definition of won the game: You hit YOUR PERSONAL number to say im Financially Independent and retire!

We would be in the particular camp of having won the game using Bernstein's version - at least regarding having set aside enough in lower risk assets to cover our expenses in retirement. Yet, we are not yet retired in spite of being FI.

1. Did you do anything that you normally would not have done during the accumulating/building process?

Sure, we travel for pleasure a bit more. Both have nice cars (new). Give more. Increased our rate of savings as we targeted some more goals. Focused in on the budget even more as we tweak it to have some "trial years" in pre-retirement of living on $X amount.

2. Do you ever stop living this way once you win the game?

Still accumulating and working as well as sticking to a budget (we didn't abandon our strategy of wealth accumulation simply because we hit any metric), but are perhaps mentally more relaxed about the actual funding of the retirement phase of life. Even once we do retire, one still has to stick to a budget in the decumulation years to not lose what you've won. Plenty have posted those thoughts in this thread who are in retirement and what their experience has been.

CyclingDuo
"Save like a pessimist, invest like an optimist." - Morgan Housel
kleiner
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Re: What did you do when you won the game? Edited

Post by kleiner »

Using various FIRE calculators in the middle of 2019, I came to the conclusion that I had comfortably exceeded my "number" by a wide margin. I then immediately quit my well-paying but exceedingly boring job at a tech megacorp, took some time off and joined a startup working in a much more exciting area within the advanced computing field. I actually got a significant boost in my salary by changing jobs (not that I needed it :happy ). I have had fun over the past year but now I think I'm ready to retire for good by the end of the year.

Knowing that I had hit my number has had a powerful impact on my overall sense of wellbeing.
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Toons
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Re: What did you do when you won the game? Edited

Post by Toons »

90/10 Before
70/30 After
Equity/Bond
We are fortunate to be able to do with our time what we please
:mrgreen:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Cruise
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Re: What did you do when you won the game? Edited

Post by Cruise »

When I was younger, I never thought we would be able to retire. My wife and I kept working hard and smart, and one day I realized that we would be able to have a very comfortable retirement. I created a PowerPoint to explain the options to my wife, and the impact of various end dates would have on our future.

What did we do?

I retired (mostly semi-retired.) Wife has kept on working--was going to pull the plug this year but COVID travel restrictions made her change her mind. She does not need to work.

We did change some of our spending habits. For example, never before dreamed of subscribing to HBO, etc., but now do so without consideration of price. Buy an Apple Watch instead of a $25 Casio?--sure! Cruise on a luxury line and fly paid J or F?--no problem. Lots of increased donations to charitable causes from our newly-established DAF. Numerous small changes in thought and behavior add up to a less restrictive lifestyle.

We don't throw money away, but also don't live the Type A Frugality that defined our past.
SQRT
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Re: What did you do when you won the game? Edited

Post by SQRT »

Cruise wrote: Tue Aug 11, 2020 9:13 pm
We did change some of our spending habits. For example, never before dreamed of subscribing to HBO, etc., but now do so without consideration of price. Buy an Apple Watch instead of a $25 Casio?--sure! Cruise on a luxury line and fly paid J or F?--no problem. Lots of increased donations to charitable causes from our newly-established DAF. Numerous small changes in thought and behavior add up to a less restrictive lifestyle.

We don't throw money away, but also don't live the Type A Frugality that defined our past.
This describes our retirement as well. In addition we added luxury cars and 2 vacation properties. In our case, the best was certainly saved for retirement. Life is very good indeed.
flyingaway
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Re: What did you do when you won the game? Edited

Post by flyingaway »

SQRT wrote: Wed Aug 12, 2020 7:25 am
Cruise wrote: Tue Aug 11, 2020 9:13 pm
We did change some of our spending habits. For example, never before dreamed of subscribing to HBO, etc., but now do so without consideration of price. Buy an Apple Watch instead of a $25 Casio?--sure! Cruise on a luxury line and fly paid J or F?--no problem. Lots of increased donations to charitable causes from our newly-established DAF. Numerous small changes in thought and behavior add up to a less restrictive lifestyle.

We don't throw money away, but also don't live the Type A Frugality that defined our past.
This describes our retirement as well. In addition we added luxury cars and 2 vacation properties. In our case, the best was certainly saved for retirement. Life is very good indeed.
Luxury cars and 2 vacation properties added after retirement? You much have won the game long before the retirement.
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DartThrower
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Re: What did you do when you won the game? Edited

Post by DartThrower »

Giving top priority to family and health.
Learning my wife's native language. It helps us connect even better and keeps my mind sharp. Plus it's fun.
Keeping portfolio in a steady state. Rebalanced and Roth converted back in April, it paid off huge.
Our patience will achieve more than our force. -Edmund Burke
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