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Thoughts from a long time poster here. By long time I mean well over 12 years.
This is all silly, so very silly.
Much of what irks people are merely progress reports and a continuation of discussions over the years.
We have gone from pre-retirement discussion, wonder and anxiety to.
Wow we did it at age late 59 ( with two pensions ) and can we make it to the next stage which is SS and.
When and how to take SS. Boy I remember those discussions to.
A market collapse a year into retirement and watching our nest egg that we needed to get us through with the pensions take a hit to.
Wow things have gotten better and the wife taking SS at 62 to.
Me taking spousal at 66 to.
Me taking my own benefit at 69 and why a year earlier than planned.
All along the way PROGRESS reports just like many others. Some of the progress reports were great others were not so great. Some proceeded as planned others got side tracked. I am always reminded of one regular on here who had their plans go sideways when their spouse passed first when they had clearly expected to be the first to go.
They were honest open and now I smile when they talk about their life which is going well. They aren't bragging but letting many know it can be ok and hey guys I am good.
When folks share what worked and what didn't they are all equal sharing a life experience so others can learn or in many cases as follow up to years of discussion.
I know more about MathJaks finances than most and I will just say I knew his discussions pre medical issues and understand why he throws dollar amounts out about costs.
If I bother to share the work we are having done on our house don't get your panties bunched up as over the years I have discussed our yard, landscaping etc and this would just be a follow up to much I have said about picking your house and lot carefully when transplanting to a new area.
No, the poster THINKS that ten years from now his pension will be $6000/month, his 401k portfolio will be substantial, and his house will be paid off. Reality may prove to be different. (And he stated he'll be earning very little in Social Security.)
He's asking if it will be enough to live the lifestyle he wants to live in retirement, not if it's going to be enough to keep him from starving in the streets. Remember, he's talking about whether to take the option of retiring early; working longer to afford his desired lifestyle is also an option, and one he may prefer if retiring early means giving up on his travel dreams or puts access to stable and affordable healthcare at risk.
The only people in that thread who were doing that were the ones who were bashing the OP for asking a perfectly reasonable question. Show me a single post that OP made which implied he was worried about meeting basic subsistence needs on that estimated income. You won't find one.
Sorry, I didn't realize that only questions about lavish lifestyles were allowed.
The fact remains that the poster in question didn't have just 6000 per month, they will have Social Security on top of that, plus interest from a decent sized 401K portfolio, leaving them with something in the 10K per month range. AND a paid off house.
HCOL or not, it's absurd that someone has to ask whether that's going to be enough for a single individual to live off of in retirement as if that's a serious question.
And I've lived in HCOL areas too, you aren't some special snowflake because of that. Lots of people here have as a matter of fact and know that there are a whole range of incomes even in HCOL places and people all across the income spectrum make it work.
So sorry, it's obnoxious to keep talking about 10K per month - or even 6K per month - as if that's subpoverty income, and it doesn't matter where you are in the US, it's not poverty level or even "modest" income even if someone has lavish dreams that exceed that income.
lol, if only questions about lavish lifestyles were allowed here then this forum would be 1 page long. the vast majority of threads are about the exact opposite.
lol, if only questions about lavish lifestyles were allowed here then this forum would be 1 page long. the vast majority of threads are about the exact opposite.
and again why is it absurd?
I remember MadMan pre-retirement and now through his retirement years. Back then him buying in a gated Vegas Community and hitting the Casino whenever he wanted unless it was interrupted by his frequent lengthy cruises. We cheered his cruise updates when he docked in some exotic port. It was clear many of us were happy he had achieved his goals. Yes it was expensive and then the Miami condo What a guy and then a turn in events. So we prayed and wished him well.
Isn’t that what this forum is about? Retirement planning and life as we individually want to share it!
Some are either new, missed that or just perhaps bitter but to this old timer if that’s where life has led you.
Thanks for sharing and giving us personal insight in to your world as this is what the forum is for.
I read the post you are referring to, and in that scenario, if someone said "You are an idiot if you can't make that amount work" (didn't see the comment) - I don't think it is to be taken literally.
The scenario referenced was someone who had a generous pension and yearly dividends - and the amounts were such that you could live "comfortably" anywhere in the U.S. - it is just a fact - nothing to get your panties in a bunch about.
I'm not sure what complaining about being too affluent is going to do for you - making yourself a victim - it seems kind of desperate in terms of drumming up an issue to feel discriminated about.
No, there are many areas in the US where you could not live comfortably on that money.
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So in my goal to retire before 60 I've been signing up for a lot of different website forums. I've notice (and I totally can be wrong) some thing very specific to the retirement forum here on the C-D. You guys do not seem to like people who are doing well or are wealthy.
.
I like anyone who can give me good investing advice.
it is all about where you live in proportion to your own income that counts . these comparisons to national averages are just silly .
when where we live shows a median income 2 to 3x the national average there is a reason things balance out that way and it is not because your rich .
perhaps you could be considered rich somewhere you don't want to live and you have no desire to leave , so what's the point .
what is the funny part is our cost of living may be high but in comparison to the income we are just as fine as someone living in a far cheaper area with a smaller income .
in fact we may be proportionately in better shape then they are . perhaps instead of telling us that we are foolish spending so much to live where we do , they would be the one better served by moving to move somewhere even cheaper not me . proportionately we may be doing better and have no reason to move . yet they won't even consider moving since they say they are fine as is . but yet those in high cost of living areas that have the income to match where they live are foolish .
Last edited by mathjak107; 06-14-2018 at 11:58 AM..
After taxes pension est. at 4K (his calculation)
Minus 1K expenses
Minus 1K (est.) for health care
2K a month
Now take taxes out of the 401k money
For what he wanted to do in retirement, it doable, but could be close, especially with health care being an unknown.
Money goes fast.
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As Math has said many many times, income / saved money (Nest Egg) in retirement buys one choices. Some of us choose to live in a higher that average COL environment, whether it be a high COL city or a high COL development in any given COL area. Personally I like to live where the folks around me are in pretty much a similar position as me. One does not want to be in an area whereby the majority of neighboring communities look at a given area or community and say "That's where the rich folks live". I think that is asking for disparity to raise it's ugly head. However if all/most of the community attracts a similar demographic, life is a lot more pleasant and easier. While it is not so idyllic as to expect to have all residents in a given area being of the same demographic, it is certainly more comfortable if most of them are. There are areas in all communities that are less desirable than others. I personally do not choose to live too close to them. Again, one buys the right to make choices that benefit ones own requirements.
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