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jimbeam
USA Fan
University of LSU
Member since Oct 2011
62013 posts

How many days of retirement have you bought?
Do your math

How close are you to 365 “freedom days”?

I’m just over a month using 3.5 SWR
This post was edited on 6/30 at 9:56 am


truthbetold
Illinois Fan
Member since Aug 2008
6433 posts

re: How many days of retirement have you bought?
48 days. Long way to go


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80
msutiger
Louisiana Tech Fan
Shreveport
Member since Jul 2008
64621 posts

re: How many days of retirement have you bought?
15 days


I thought I’d be able to retire before 30, don’t think I’m gonna hit the mark


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40
LSU
LSU Fan
Houston
Member since Oct 2003
7920 posts
 Online 

re: How many days of retirement have you bought?
169 days, but I'm just guessing on the $50,000 annual spending in retirement.


TheIndulger
LSU Fan
Member since Sep 2011
18676 posts

re: How many days of retirement have you bought?
How do you determine the safe withdrawal rate?
I also don't really know what to put for the annual spending..I don't keep good records


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cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
21932 posts

re: How many days of retirement have you bought?
this brings up something that those of us at certain age think about alot...

lets say you (I) want to retire at 60.
lets say you (I) live simply, have very few expenses and no debt.

i have always had in my mind i need 1MM in accessible savings in order to that. i could get there today but i'd have to sell my house to do it.

so in 7 more years i need to save/earn another 250K or so. just thinking out loud...

the moral of this story is start saving early and always remember, once you spend it, it's gone


JayDeerTay84
LSU Fan
Texas
Member since May 2013
7367 posts

re: How many days of retirement have you bought?
about 350


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03
TimeOutdoors
Mississippi St. Fan
Depends on the day
Member since Sep 2014
5666 posts

re: How many days of retirement have you bought?
I figured out all I have to do is get my spending down to 18,000 and I have it made. lol


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121
Teddy Ruxpin
LSU Fan
TX
Member since Oct 2006
34500 posts
 Online 

re: How many days of retirement have you bought?
Current spending 41 days.

More realistic spending removing student and home loan = 81 days.


Time to make my wife hate me more with a new budget!

This post was edited on 6/30 at 4:11 pm


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PhiTiger1764
LSU Fan
Lurker since Aug 2003
Member since Oct 2009
12061 posts

re: How many days of retirement have you bought?
I have 52 days of current annual spending.

I have 16 days of estimated inflation adjusted annual spending for 30 years from now.


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TD SponsorTD Fan
USA
Member since 2001
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CaptainJ47
Hawaii Fan
Gonzales
Member since Nov 2007
5874 posts

re: How many days of retirement have you bought?
I put my spending at $135k. I think that is a bit aggressive assuming some debt elimination in the coming years, but that is 75% of current spend. With a 3.5 I am at 74 days. Tells me I am about $2.6-$3m shy. Based on 9% growth and my annual contributions I will be close to financial freedom in 10 years. I like it!


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17
TorchtheFlyingTiger
North Carolina St. Fan
It's Germans
Member since Jan 2008
836 posts

re: How many days of retirement have you bought?
375 days with a $70k spend and 4% swr.

I'll double that with pension starting in 2 years. We've never spent anywhere near $140k annually. I'm really looking forward to early retirement.


SmackoverHawg
Arkansas Fan
Member since Oct 2011
21520 posts

re: How many days of retirement have you bought?
487 at %4. Too bad I can't touch most of it until I'm 59.5


JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
25659 posts

re: How many days of retirement have you bought?
So yea assuming a 2.1% average inflation until my hopeful retirement year for the annual spend puts me at ....... 14 days.




Ouch lol.

40 days at current spend level in 2020 dollars.
This post was edited on 6/30 at 10:13 pm


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JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
25659 posts

re: How many days of retirement have you bought?
quote:

this brings up something that those of us at certain age think about alot...

lets say you (I) want to retire at 60.
lets say you (I) live simply, have very few expenses and no debt.

i have always had in my mind i need 1MM in accessible savings in order to that.


With a million in invested assets, you would be able to spend about 35k per year or a little less than 3k per month basically forever. You could up your spending a little bit if you don't care about leaving anything after you die.

It's entirely doable, but you'll either have to have a paid off house, live in a LCOL area, or both.

But keep in mind that a 35k yearly spend in 2020 is probably going to be equivalent to a 65k yearly spend in 30 years.


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RedMustang
Auburn Fan
Member since Oct 2011
6362 posts
 Online 

re: How many days of retirement have you bought?
464


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meansonny
Georgia Fan
ATL
Member since Sep 2012
11125 posts

re: How many days of retirement have you bought?
Current spending (I have 4 teenagers) is 95 days.
About 1/3 of the way there.

Expected spending is 132 days. Not quite halfway.

That was depressing.


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TorchtheFlyingTiger
North Carolina St. Fan
It's Germans
Member since Jan 2008
836 posts

re: How many days of retirement have you bought?
quote:

Too bad I can't touch most of it until I'm 59.5


Not necessarily, you could use 72t rule Substantially Equal Periodic Payments to pull money out of an IRA before the age of 59 1/2 and avoid the 10% early distribution penalty tax. Better yet, use a Roth conversion ladder which wouldn't lock you into taking equal payments until 59 1/2.

InspireToFIRE Roth conversion ladder


CajunTiger92
LSU Fan
Member since Dec 2007
2135 posts
 Online 

re: How many days of retirement have you bought?
From the FIRE link.

quote:

As mentioned earlier, you DO have to pay taxes when you convert the money from an IRA to Roth account.


quote:

If I started with $875,000 ($35,000 x 25) in my 401K, I would have been able to access more than half of my funds and pay little to no tax on that money!


I like the concept of how to get around the restrictions on a Traditional IRA using the ROTH but I think his $35k annual expenses used in the example are way too low. Meaning, it won't be little to no tax on accessing the funds. Each conversion will require about 10-15% more money to pay the taxes on it.


bogart
Member since Dec 2013
1037 posts

re: How many days of retirement have you bought?
142 days.


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