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Old 12-11-2016, 07:12 PM
 
1,040 posts, read 484,284 times
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Quote:
Originally Posted by davebarnes View Post
what is your forecasted death age?
95
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Old 12-11-2016, 07:31 PM
 
6,611 posts, read 3,738,816 times
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Quote:
Originally Posted by FREE866 View Post
I don't get caught up in the day to day headlines about what the new president or administrations say and do..the reality is , over time, they do very little to affect investment results...

Interesting point about the 4%..I guess I'm just more hanging my hat as they say on the fidelity and firecalc numbers that churned out....

I will post on the early retirement board..thank you!
I think investment sites give a dimmer view than non-investment sites on how long your money will last. For obvious reasons. But better to err on the side of caution, I suppose.
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Old 12-11-2016, 07:42 PM
 
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Quote:
Originally Posted by bpollen View Post
I think investment sites give a dimmer view than non-investment sites on how long your money will last. For obvious reasons. But better to err on the side of caution, I suppose.
not totally sure what you mean here..what would you consider a "non investment site" and an "investment " site?
thank you
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Old 12-11-2016, 07:42 PM
 
Location: NE Mississippi
13,645 posts, read 8,559,902 times
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Quote:
Originally Posted by FREE866 View Post
I think my working days might be over, but wanted to throw this out there

I have more than 300x my monthly expenses and over 25x my yearly expenses in investments

FIRECALC retirement calculator has me at a 98% success rate and the Fidelity calculator has me with money left over assuming "below average" market returns

any thoughts?

thank you
We were just talking about a friend we have who retired with a similar amount in 1988.
Dead broke now. The only thing that saves him is the fact that his wife is still working.
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Old 12-11-2016, 07:53 PM
 
1,040 posts, read 484,284 times
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Quote:
Originally Posted by Listener2307 View Post
We were just talking about a friend we have who retired with a similar amount in 1988.
Dead broke now. The only thing that saves him is the fact that his wife is still working.
Interesting. I'm pretty sure FIRECALC and Fidelity's calculator was created in the last 10-20 years..

can you give me a little more specific information on your friends financial picture from 28 years ago?
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Old 12-12-2016, 12:48 AM
 
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Your rent-stabilized apartment is a huge asset. Is the lease under your name or your partner's? (Or both?) If it's in her name and she dies, can you assume the lease? I don't know anything about the legalities of rent-stabilized apartments, but losing the apartment and trying to find something equivalent would probably blow a big hole in your budget.
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Old 12-12-2016, 05:43 AM
 
1,040 posts, read 484,284 times
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Originally Posted by Kthnry View Post
Your rent-stabilized apartment is a huge asset. Is the lease under your name or your partner's? (Or both?) If it's in her name and she dies, can you assume the lease? I don't know anything about the legalities of rent-stabilized apartments, but losing the apartment and trying to find something equivalent would probably blow a big hole in your budget.
It's in my name
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Old 12-12-2016, 05:48 AM
 
Location: In a vehicle.
5,021 posts, read 3,209,323 times
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Quote:
Originally Posted by FREE866 View Post
I think my working days might be over, but wanted to throw this out there

I have more than 300x my monthly expenses and over 25x my yearly expenses in investments

FIRECALC retirement calculator has me at a 98% success rate and the Fidelity calculator has me with money left over assuming "below average" market returns

any thoughts?

thank you
I plan to have hip surgery in 2017. Hope to be able to stand longer than 1 hour without pain...Maybe get a job which pays more, but at $11 and sitting a lot has its benefits...

Also looking at buying a newer van, maybe a trailer also... You didn't say I HAD to respond to your post, you just wanted my thoughts...
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Old 12-12-2016, 06:05 AM
 
Location: RVA
2,164 posts, read 1,264,598 times
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45 years of retirement based on 25x current living expenses with none of your own guaranteed medical insurance in one of the most expensive places on earth, and you don't own your own home, or I assume have a pension? I'm not saying that is a must, but most times the 25x is used for 30 years retirement, where Medicare is only a few or no years away and a paid for, or high equity in a home is assumed. My opinion is thats too close for comfort, unless you move to a low COLA location, or UNLESS you have a truly marketable skill in NYC, that would always allow you to go back to work. I'm just PRETTY sure if you are broke at 75-80, FIREcalc is not going to say "oops, sorry about that prediction, we'll be glad to bail you out".

I know I wouldn't, with no Plan B.
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Old 12-12-2016, 06:15 AM
 
1,040 posts, read 484,284 times
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Quote:
Originally Posted by Perryinva View Post
45 years of retirement based on 25x current living expenses with none of your own guaranteed medical insurance in one of the most expensive places on earth, and you don't own your own home, or I assume have a pension? I'm not saying that is a must, but most times the 25x is used for 30 years retirement, where Medicare is only a few or no years away and a paid for, or high equity in a home is assumed. My opinion is thats too close for comfort, unless you move to a low COLA location, or UNLESS you have a truly marketable skill in NYC, that would always allow you to go back to work. I'm just PRETTY sure if you are broke at 75-80, FIREcalc is not going to say "oops, sorry about that prediction, we'll be glad to bail you out".

I know I wouldn't, with no Plan B.
Couple things...
you said the 25x expenses being for 30 years. But what about the fact that I will have SS kicking in in 20 years?
not owning my home is actually a major plus as I don't have to have unplanned expenses hit me. No car payments, no capital expenditures on a home, no education costs...my situation is unique in that way....
And yes NYC is expensive if you eat most of your meals out, and spend 100's a month on overpriced Broadway shows and take cabs everywhere.....

and hahaha on FIRECALC....I hear you....
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