Talking stocks, trading, and investing in general

[patrickBOOTH]

I don't know, at 50 I can't see my expenses really going down. I know plenty of people well into their 60's and even 70's that have more active social lives than I do. I would think in these years you want to live just as well as when you're working. I mean my parents really never lived until I was out of their house and they are more social and out and about than when I was in high school. Unless there is a major health setback I know myself too well to rationalize myself spending considerably less money than I do now.

 

[Piobaire]

I'm talking into your 80s and 90s here. Also I notice socializing for folks once retired often involve cheap things like book clubs, cooking clubs, visiting museums, spending time socializing at people's homes, etc.

IDK. Each to his own. Outside of egregious travel expenses and medical expenses I'm pretty sure we'll require less. I mean, at the very least, I'll stop saving so I know I'll need less.

Edit: removed humblebrag...which I figured was more admitting my pleb status as a guy just talked about not being able to live on 200k.

 

[patrickBOOTH]

Nice humblebrag there, brah.

 

[jbarwick]

If we worked 10 more years we could double our withdraw rate but I feel like the sweet spot will be somewhere in between. Also, these assumptions are based on 4.9% real growth and old salaries. Adjusting either of those even small amounts leaves wildly different end results.

In reality my genes suck and I'll kick it at like 68 and have only retired a handful of years.

 

[Texasmade]

I don't know, at 50 I can't see my expenses really going down. I know plenty of people well into their 60's and even 70's that have more active social lives than I do. I would think in these years you want to live just as well as when you're working. I mean my parents really never lived until I was out of their house and they are more social and out and about than when I was in high school. Unless there is a major health setback I know myself too well to rationalize myself spending considerably less money than I do now.

Swingers do tend to have more active social lives. They do need to meet people after all.

 

[otc]

Yeah, I think the "match your current/expected income" idea already sort of builds in the fact that there will be inflation and some increased expenses.

You'll see a lot of savings in retirement. Your previous savings rate goes away, you've probably paid off the house (or are close) and are done with child expenses). You will likely pay less taxes between capital gains, roth accounts, other tax-benefitted schemes. You also probably do spend a lot on convenience expenses--like was said, even if you like to eat at restaurants, how many restaurant expenses are you incurring just because you don't have time after/during work (rather than because you really want to eat that)?

On the other hand, sure, you might travel more and have to find activities to fill your time with (but you can afford to do things like travel on a tuesday instead of a weekend). Inflation will get you, as will non-covered medical expenses, but much of that is factored in.

At the end of the day, 100k in retirement spend is a LOT more than what you are spending on a $100k salary 10 years pre-retirement.

Also I notice socializing for folks once retired often involve cheap things like book clubs, cooking clubs, visiting museums, spending time socializing at people's homes, etc.

But how much of that is because they are on a fixed income/have limited retirement assets and are worried that they would run out of money if they started buying $10k road bikes and joined the Porsche club? Sure, you might get sucked into some of that because your poor-planning friends can't afford to gallivant around the Mediterranean with you, but that's not your goal...

 

[Piobaire]

Oh, another thing is I seriously cannot drink like I could even 10 years ago. Big savings on booze!

 

[patrickBOOTH]

More and more I think planned obsolescence is the way to go. Pick and age and then just off yourself.

 

[brokencycle]

I understand that everyone in this forum is an internet big timer, but $100k/yr in retirement is more than the average American household of any age.

 

[jbarwick]

More and more I think planned obsolescence is the way to go. Pick and age and then just off yourself.

After the heart issues in my family, I went to see a cardiologist. Talk about a depressing place to be as everyone looks close to their death bed. Similarly I have been to some other medical offices where people look just as bad. I don't understand how people want to fight for every last breathe but maybe wisdom comes with age? Life isn't about who has the most breathes, it's about living the most.

 

[jbarwick]

I understand that everyone in this forum is an internet big timer, but $100k/yr in retirement is more than the average American household of any age.

As I mentioned, it was sort of an arbitrary number that we then walked backed to reach an amount to save each year. We can then easily change it to figure out if we want to work more or retire earlier.

 

[brokencycle]

As I mentioned, it was sort of an arbitrary number that we then walked backed to reach an amount to save each year. We can then easily change it to figure out if we want to work more or retire earlier.

It all depends on your lifestyle, but it was more a comment back to Pio and pB and their talk of $200k+/ $100k not being enough.

 

[Piobaire]

100k will be more than enough for our base living but I ain't downgrading lower than an Outback Touring!

 

[Omega Male]

After the heart issues in my family, I went to see a cardiologist. Talk about a depressing place to be as everyone looks close to their death bed. Similarly I have been to some other medical offices where people look just as bad. I don't understand how people want to fight for every last breathe but maybe wisdom comes with age? Life isn't about who has the most breathes, it's about living the most.

Agreed. My doctor calls it "compression of morbidity" -- ie. you want to live as long as possible healthy and happy, then die as quickly and painlessly as possible after that.

Back on the stock front, nice bounce today but eventually this tariff can will not be able to be kicked any further down the road, surely? The cynic in me thinks the Chinese are saving some concessions that will give Trump a win to tweet about for when they need the US to look the other way as they level Hong Kong.

 

[patrickBOOTH]

Or we can cut them off completely, cripple our economy and let Xi fall.