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Is your net worth increasing in retirement, remaining stable or decreasing? If not retired what do you think will happen? This is something that rarely gets mentioned in discussions but isn't it key to our plans?
Curmudgeon's comment "What plans?" is not nearly as reckless as it would seem at first glance. Those of us fortunate enough to have defined benefit pensions with at least partial inflation protection which are large enough on which to live in reasonable comfort don't need any plans, except perhaps a spending plan to avoid going hog wild and amassing debt.
I always spent less than I had coming in during my working life, and I am continuing to spend less than I have coming in during my retired life. So like Curmudgeon, I can say, "What plans?".
Curmudgeon's comment "What plans?" is not nearly as reckless as it would seem at first glance. Those of us fortunate enough to have defined benefit pensions with at least partial inflation protection which are large enough on which to live in reasonable comfort don't need any plans, except perhaps a spending plan to avoid going hog wild and amassing debt.
I always spent less than I had coming in during my working life, and I am continuing to spend less than I have coming in during my retired life. So like Curmudgeon, I can say, "What plans?".
Doesn't that mean your net worth in increasing and that is a good thing and a plan. I might add a good one.
To my amazement my net worth has risen sharply since I retired. I have more income than expenses and I made a bundle on the housing bubble. This despite having no coherent plan when retirement was forced on me early.
Curmudgeon's comment "What plans?" is not nearly as reckless as it would seem at first glance. Those of us fortunate enough to have defined benefit pensions with at least partial inflation protection which are large enough on which to live in reasonable comfort don't need any plans, except perhaps a spending plan to avoid going hog wild and amassing debt.
I always spent less than I had coming in during my working life, and I am continuing to spend less than I have coming in during my retired life. So like Curmudgeon, I can say, "What plans?".
Spending plan, decidedly. We forego a number of expenses that on the surface it would appear we could easily afford. It's a hedge against the future when inflation will most likely out-perform COLAs.
Besides, there's something to be said about the easy life, surrounded by nature, peace, quiet and tranquility after years of being on front-street, politically, and having to "perform" socially. We much prefer it.
In my planning for retirement, an average annual return under 3.25% will decrease net worth. Anything higher will increase it. Even if the return averages 1%, we'll survive, but with less assets. This is the main reason why I'm confident we can retire as scheduled. Also, if we end up with a low return, I'm guessing we'll make adjustments to expenses to, at minimum, maintain our net worth.
Is your net worth increasing in retirement, remaining stable or decreasing?
Remaining Stable.
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Not having plans
