In my experience, expenses in retirement have not decreased, despite the end of commuting and work-related expenses. Also, retirees I know seem to have maintained their pre-retirement lifestyles and presumably pre-retirement expenses. I am be overgeneralizing based on personal experience and a small sample size of other retirees. Even so, we assumed that our expenses would not decline in retirement, and they have not in the eight years since we retired. Good for you if you can reduce yours and maintain the lifestyle you want. I am familiar with Mr. Quinn’s views from his numerous posts, including his disdain for budgets and his advocacy for secure income streams in retirement. I did not miss his agenda; I commended him for the simple points that, in my view, are valid. His other views may be idiosyncratic, and I did not endorse the entire Quinn personal finance dogma.
Poor Mr. Quinn suffers down arrows and some uncivil comments for offering sound advice that should not be controversial: —plan for your lifestyle and expenses not change in retirement; and —plan for unexpected emergency expenses that will inevitably occur in retirement. Thanks for the reminder, Mr. Quinn!
The title is funny: who did not tell you that grandchildren are expensive? Of course they are. That is obvious to anyone who has had children or, before retiring, grandchildren. Anyone who views spending on grandchildren in retirement as an unexpected or unplanned retirement expense either was not paying attention during their pre-retirement years or was not a good retirement planner.
In his Of Dollars and Data blog, Nick Maggiulli wrote a detailed and well-researched post about “The Case for and against Dividend ETFs” on 2-27-24 (post 387). He stated that while dividend stocks have historically outperformed the S&P 500, dividend funds have generally underperformed the S&P 500 over the past 5 to 10 years. He outlines the pros and cons of dividend ETFs and who might or might not benefit from owning them. A very good post. We do not any dividend ETFs, but do own some individual stocks that are dividend aristocrats or kings as part of our overall stock holdings.
Good post, Mr. Quinn. Annuities, as part of an overall plan, can provide both guaranteed income and peace of mind. in the late 1980s or early 1990s, I started a variable deferred annuity account with Fidelity because I wanted to save for retirement in a tax-deferred way above the contribution limits for my 401(k). I contributed to the variable deferred annuity account for roughly 25 years. Upon retirement in 2017, I converted the accumulated amount into a monthly income stream. In 2023, our Fidelity advisor suggested that we convert part of our taxable account into a single premium annuity. We did that and now have a second income stream from an annuity. We both receive Social Security benefits, and we each have a modest pension. These are also guaranteed income streams. I also take my RMD withdrawals as monthly payments, which provides another steady income stream. An RMD withdrawal is not an annuity as such, but, even though the assets in the 401(k) account is subject to market fluctuation, it functions similarly to one in terms of providing a steady monthly payment. These various income streams cover our expenses and provide peace of mind coverage against fluctuations in the financial markets that affect our savings in other taxable and tax deferred accounts. For us, annuitizing a portion of our savings, in addition to receiving Social Security and modest pensions, has worked well.
Saving. Giving to children. Spending on grandchildren.
Yes.
Yes. Successful enough, and as successful as I was going to be.
What we now have is enough, yet we still accumulate more through savings & investment gains.
Grandchildren. Other contributors: reasonably good health, exercise, financial peace of mind, & volunteer activities.
Not sure about who. Have long term care coverage for me, but not my wife. Not concerned about risk of outliving our money.
Value, yes. Ease of settling, probably not, & I know that we need to simplify things more. I am learning as I settle my late mother’s matters that the process is more complicated than it should be, especially with an unhelpful financial institution such as Bank of America.
Comments
In my experience, expenses in retirement have not decreased, despite the end of commuting and work-related expenses. Also, retirees I know seem to have maintained their pre-retirement lifestyles and presumably pre-retirement expenses. I am be overgeneralizing based on personal experience and a small sample size of other retirees. Even so, we assumed that our expenses would not decline in retirement, and they have not in the eight years since we retired. Good for you if you can reduce yours and maintain the lifestyle you want. I am familiar with Mr. Quinn’s views from his numerous posts, including his disdain for budgets and his advocacy for secure income streams in retirement. I did not miss his agenda; I commended him for the simple points that, in my view, are valid. His other views may be idiosyncratic, and I did not endorse the entire Quinn personal finance dogma.
Post: Achieving and maintaining all the retirement income you need for a chosen lifestyle with limited worry.
Link to comment from September 22, 2025
Poor Mr. Quinn suffers down arrows and some uncivil comments for offering sound advice that should not be controversial: —plan for your lifestyle and expenses not change in retirement; and —plan for unexpected emergency expenses that will inevitably occur in retirement. Thanks for the reminder, Mr. Quinn!
Post: Achieving and maintaining all the retirement income you need for a chosen lifestyle with limited worry.
Link to comment from September 22, 2025
Thanks for the word of the day. it had bumfuzzled me
Post: The Financial Metric I Refuse to Calculate
Link to comment from September 14, 2025
Other than not knowing what “faffing about” entails, I agree with Mr. Crothers’ approach and reasoning.
Post: The Financial Metric I Refuse to Calculate
Link to comment from September 14, 2025
The title is funny: who did not tell you that grandchildren are expensive? Of course they are. That is obvious to anyone who has had children or, before retiring, grandchildren. Anyone who views spending on grandchildren in retirement as an unexpected or unplanned retirement expense either was not paying attention during their pre-retirement years or was not a good retirement planner.
Post: What They Don’t Tell You About Retirement: Part 2 – Grandchildren Are Expensive
Link to comment from September 6, 2025
And the records arrived a mere one day after the estimated delivery day. Not exactly a big deal.
Post: A Record Journey
Link to comment from August 20, 2025
In his Of Dollars and Data blog, Nick Maggiulli wrote a detailed and well-researched post about “The Case for and against Dividend ETFs” on 2-27-24 (post 387). He stated that while dividend stocks have historically outperformed the S&P 500, dividend funds have generally underperformed the S&P 500 over the past 5 to 10 years. He outlines the pros and cons of dividend ETFs and who might or might not benefit from owning them. A very good post. We do not any dividend ETFs, but do own some individual stocks that are dividend aristocrats or kings as part of our overall stock holdings.
Post: You’ve Come a Long Way, Baby
Link to comment from April 27, 2025
Good post, Mr. Quinn. Annuities, as part of an overall plan, can provide both guaranteed income and peace of mind. in the late 1980s or early 1990s, I started a variable deferred annuity account with Fidelity because I wanted to save for retirement in a tax-deferred way above the contribution limits for my 401(k). I contributed to the variable deferred annuity account for roughly 25 years. Upon retirement in 2017, I converted the accumulated amount into a monthly income stream. In 2023, our Fidelity advisor suggested that we convert part of our taxable account into a single premium annuity. We did that and now have a second income stream from an annuity. We both receive Social Security benefits, and we each have a modest pension. These are also guaranteed income streams. I also take my RMD withdrawals as monthly payments, which provides another steady income stream. An RMD withdrawal is not an annuity as such, but, even though the assets in the 401(k) account is subject to market fluctuation, it functions similarly to one in terms of providing a steady monthly payment. These various income streams cover our expenses and provide peace of mind coverage against fluctuations in the financial markets that affect our savings in other taxable and tax deferred accounts. For us, annuitizing a portion of our savings, in addition to receiving Social Security and modest pensions, has worked well.
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 24, 2025
Post: Ask Me a Tough One
Link to comment from April 18, 2025
Good question, Mr. West. Humble Dollar’s Forum section has experienced a change.
Post: SCOTUS AND THE ODD COUPLE
Link to comment from April 16, 2025