Snake Posted October 6, 2017 Author Share Posted October 6, 2017 3 minutes ago, f7ben said: with all your bills paid you guys are going to live like 1%ers as far as retirees go.....nice work Appreciate that Benny. "Losing $100 a week when I was like 25 and making $600 a week was hard, but I'd do it all over agin. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 6 minutes ago, Snake said: Yeah. The $3,500 is mine, but the old lady gets a military pension and the regular government pension. And her $401k is close to 3x mine.... We are both due at 57. 57 1/2 for her actually. Really have no idea how much cause the military one is based on like 10,000 different factors, and the IRS one is based on highest 3 years of earnings x some other number that gets worked out later. My wife's is 2% x years of service x average of best 5 years Quote Link to comment Share on other sites More sharing options...
Snake Posted October 6, 2017 Author Share Posted October 6, 2017 1 minute ago, ArcticCrusher said: My wife's is 2% x years of service x average of best 5 years Damn, that would be $80k for the wife! Quote Link to comment Share on other sites More sharing options...
Pete Posted October 6, 2017 Share Posted October 6, 2017 What’s a comfortable amount you guys are going to need? 2 million? 3 million? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 1 minute ago, Snake said: Damn, that would be $80k for the wife! That's exactly what she is getting. I will match that and our investments will continue to grow. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 6, 2017 Share Posted October 6, 2017 Just now, COPO said: What’s a comfortable amount you guys are going to need? 2 million? 3 million? depends on how you want to live and what your expenses are. If you own your home and have no bills you could easily get by on a million or maybe less depending on where you lived. Quote Link to comment Share on other sites More sharing options...
Snake Posted October 6, 2017 Author Share Posted October 6, 2017 (edited) 3 minutes ago, COPO said: What’s a comfortable amount you guys are going to need? 2 million? 3 million? With the pensions, I'm estimating $7,500 a month, not counting military, and basing her pension on a rough estimate. If I can't make it on $120k a year, I'm foolish. (Guestimating $2,500 from the military.) The 401k money will just be fodder. So I'm not really thinking on a "$ in the bank" scenario. Edited October 6, 2017 by Snake Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 2 minutes ago, COPO said: What’s a comfortable amount you guys are going to need? 2 million? 3 million? What is your expected return? At 10% no problem. At 2% not so sure. Hey you might just live to 90, when most financial plans cease. Quote Link to comment Share on other sites More sharing options...
Pete Posted October 6, 2017 Share Posted October 6, 2017 1 minute ago, ArcticCrusher said: What is your expected return? At 10% no problem. At 2% not so sure. Hey you might just live to 90, when most financial plans cease. At least 2 Quote Link to comment Share on other sites More sharing options...
Snake Posted October 6, 2017 Author Share Posted October 6, 2017 4 minutes ago, ArcticCrusher said: What is your expected return? At 10% no problem. At 2% not so sure. Hey you might just live to 90, when most financial plans cease. Lifetime. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 2 minutes ago, COPO said: At least 2 Factor inflation at 2% so you are really just drawing down on it. How much do you figure you need per month? Lots of calculators to show you when you run out. Quote Link to comment Share on other sites More sharing options...
Pete Posted October 6, 2017 Share Posted October 6, 2017 Just now, ArcticCrusher said: Factor inflation at 2% so you are really just drawing down on it. How much do you figure you need per month? Lots of calculators to show you when you run out. Sorry I meant 2 mil. That’s where we are headed now Quote Link to comment Share on other sites More sharing options...
snoughnut Posted October 6, 2017 Share Posted October 6, 2017 11 minutes ago, COPO said: What’s a comfortable amount you guys are going to need? 2 million? 3 million? Comfortable? Christ, I could live like a king on 2-3 mil, I know very few people who are retired with those kind of assets. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 4 minutes ago, COPO said: Sorry I meant 2 mil. That’s where we are headed now You should be in decent shape with that, but it really depends on how much you need per year. 60K per year, no problem, 120K depends how its invested. GIC's won't cut it. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 6, 2017 Share Posted October 6, 2017 inflation means very little if you have fixed costs Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted October 6, 2017 Share Posted October 6, 2017 34 minutes ago, COPO said: What’s a comfortable amount you guys are going to need? 2 million? 3 million? I'll be at about 2 million on the current pace. Neal Quote Link to comment Share on other sites More sharing options...
Snake Posted October 6, 2017 Author Share Posted October 6, 2017 16 minutes ago, NaturallyAspirated said: I'll be at about 2 million on the current pace. Neal Every 10 years retired the pensions will total about $1.2m. $2.4 only takes me to age 77. Sure it will suffice? Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted October 6, 2017 Share Posted October 6, 2017 1 minute ago, Snake said: Every 10 years retired the pensions will total about $1.2m. $2.4 only takes me to age 77. Sure it will suffice? I'll live more meager. Neal Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 6, 2017 Share Posted October 6, 2017 3 minutes ago, Snake said: Every 10 years retired the pensions will total about $1.2m. $2.4 only takes me to age 77. Sure it will suffice? With 2 million he could pull 100k per year and only need a 5% return to not draw any principal..... Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 6, 2017 Share Posted October 6, 2017 17 minutes ago, f7ben said: With 2 million he could pull 100k per year and only need a 5% return to not draw any principal..... Says the guy who prematurely pulled everything out of the markets. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 6, 2017 Share Posted October 6, 2017 1 hour ago, Snake said: It absolutely is. ONLY reason I'm staying for the next 5 years is the $3,500 a month. With near zero bills, I can live easily on that, regardless the 401k. Snake when does your wife plan on retiring? I may have asked before is she on the CSRS or FERS retirement program? Quote Link to comment Share on other sites More sharing options...
Snake Posted October 6, 2017 Author Share Posted October 6, 2017 Just now, Mainecat said: Snake when does your wife plan on retiring? I may have asked before is she on the CSRS or FERS retirement program? FERS 57 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 6, 2017 Share Posted October 6, 2017 4 minutes ago, Snake said: FERS 57 Mine is on the CERS plus she started a 401k way back. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted October 7, 2017 Share Posted October 7, 2017 17 hours ago, f7ben said: inflation means very little if you have fixed costs Healthcare will never be fixed. Wished I'd seen this thread earlier, now that I'm a fucking expert on this shit. Gotta head to a trade show in a bit though, so I can't dazzle you with portfolio analysis Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 7, 2017 Share Posted October 7, 2017 4 minutes ago, DriftBusta said: Healthcare will never be fixed. Wished I'd seen this thread earlier, now that I'm a fucking expert on this shit. Gotta head to a trade show in a bit though, so I can't dazzle you with portfolio analysis HC will indeed be fixed cost by the time i retire. There is nothing more fixed than UHC Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.