Financial Independence Daily FI discussion thread - Sunday, September 05, 2021 |
- Daily FI discussion thread - Sunday, September 05, 2021
- When can I increase spending post-FIRE?
- How do you know if you’re close to retirement?
| Daily FI discussion thread - Sunday, September 05, 2021 Posted: 05 Sep 2021 02:02 AM PDT Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| When can I increase spending post-FIRE? Posted: 05 Sep 2021 01:44 AM PDT I FIRE'd in the UK in 2018 in a lean sort of way. in my mid-30's. I have no plans for children and no great desire to leave significant bequests, so want to make the most of enjoying my money. So, it's been 3 further lovely years of bull market of course. Now I'm wondering, how do I sensibly work out how much I can loosen the purse strings? So much of the discourse/material here is based around planning for the worst. When I look at the firecalc site FAQ it says " In practice, if things are going really well with the market in the early years (the situation that results in the highest ending balances), most folks will readjust and spend more. " but how much more? I know it's not an exact science here, but what tools can I use to guide me? I'd like to increase spending, but not hugely increase my risk of re-engaging with the dreaded sequence of returns risk. edit: Thanks all for taking the time to respond. Just to furnish further detail, I started at a 3% SWR and now withdraw less than 2.5% of my current portfolio value. That's what's really driving me poking into the models, as sub 2.5% feels too mean even in today's markets. [link] [comments]  |
| How do you know if you’re close to retirement? Posted: 05 Sep 2021 03:21 PM PDT Married. Net worth about 1.6 M, but 988K of that is my house (90K to payoff). 401K "retirement" account only has $700K in it. Some people tell me I need 25x my salary before I can retire. So that's like 4 M, well 700K is nowhere near 4 M. Some people say, "dude you have like a million dollar house that will be paid off in a few more years you can retire now!" So I'm completely confused. Most of my "worth" isn't liquid and my "retirement account " is nowhere near what online calculators say it should be. So I'm lost. Am I close to retirement or super far away? [link] [comments]  |
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