Got my annual “raise” today at 3.5%. The average for the department was 3% so I guess it’s better than a stick in the eye.
Happy Monday, everyone!
Since I'd rather not be working today: What do you expect your daily routine to look like in retirement?
I'm already retired but here's how I structured my days. Mornings start off with breakfast and walking the dog. Then I focus on chores that I have to do...mow the lawn, laundry, groceries. After lunch is left open for fun things or projects I'm working on. Lately I've been splitting afternoons between digitiznig old photos, genealogy, reading and knitting. If my SO is working in the office, then I do afternoon dog walking duties too. After dinner is watching TV with the SO. I kind of fell into this pattern after I found myself wandering around the house bored trying to figure out what to do with myself.
Unclear, but I know it’ll involve more exercise than I’ve got time for now, more “fun” tech projects that I don’t have the time/energy to work on now, and of course, more time with family. I’d also love to pick up more “practical” skills that I lack now, I’m anything but handy around the house once you get beyond very basic plumbing.
I realize I’ve created more of a wishlist than a daily routine. 🙃
It took 7 years of saving to finally reach 100K net worth. I am so burnt out... will it get easier?
It does get easier. At 100k is about where I started to see the effects of compound interest really take hold. Hang in there. It is so worth it.
I’m 16 years in and also burnt out right now. I think it’s pretty normal to go through bouts of it. Best to find a way to recharge if you can. I’ve got a lot of time off to book over the next six months and I’m hoping that helps for me.
Should I pull the plug and RE?
- Today my investments are 0.5% away from 3% withdrawal rate to equal expected spending
- Am invested ~50% in growth funds, 43% in S&P, 7% in bonds and money market
- If I work, I'll earn ~7% of my NW per year
Have you factored in old age costs? Lawn care or household help when it gets to be too much for you to handle on your own. I didn't factor that and am now thinking I will regret that as I'm currently watching my mom start to decline and need more help.
Also increasing medical costs is part of the equation I guess. Aging is a pain. Hence I'm trying to balance retirement with some life left vs earning some more to make things smoother. Having said that, I sort of did take that into account.
As important as your current expenses, where are you in life? By which I mean, is there a likelihood of radical life changes still (marriage, kids, etc) that might completely upend your calculations?
No such radical change is expected. Am midway through my life, that is to say 45.
Will FIRE lost against inflation? Or is there a way to fight the inflation?
I think the FIRE community is best suited to handle inflation. Let's face it, if your seriously pursuing FIRE, you probably aren't buying a ton of stuff. Housing, food and medical expenses are going up but when you aren't spending on a ton of other stuff it doesn't hurt as much. It makes saving tougher but not impossible. I think our current inflation is also a good reality check for people that haven't experienced the ups and downs of inflation before. We have to account for that in our financial planning because it isn't always a rosy 1-2%. The 7% mortgages that you are seeing today are laughable to someone like my folks whose first mortgage was around 13%. It's all just part of the long term financial cycle that we have to find the best way to deal with. The best way to beat inflation is the best path to FIRE. Keep your frivolous spending low, invest in a diverse and well balanced portfolio and be flexible to change as life changes.
