I can’t quite drink the Bengen Kool-Aid. Basically, I setup a spreadsheet for my income/expenses each year until “end of plan” at age 95 - includes inflation factors, house selling/buying, Social Security, etc. It becomes painfully obvious when I see it all laid out, that life gets in the way of systemic withdrawal rates; there’s just too many hits that spike expenses up or down. My exercise can give me a warm fuzzy for overall plan sustainability, but life will refuse to be made linear.
It’s important to at least ponder the family dynamics of treating one child differently than another. Will disproportionate treatment result in resentment between children?
You might consider complementary therapies to go with the chemo and radiation. There is ginger for nausea (e.g. ginger tea). There are high dose infusions of Vitamin C or Vitamin D. Fasting before/during/after treatments. Low glycemic diets. Most of these need to be directed by someone who understands your situation since the treatments can vary. Search "integrative medical cancer center" for examples. Also, there is a web site called conqueringcancer.com that can help you explore the topic. All is not lost. Keep the fire burning.
I struggled through the accumulation phase with complexity vs simplicity. Complexity took the most effort and promised the most reward. Simplicity took the least effort but was usually suboptimal. I chose the middle path by adding some complexity, but not too much. Yes, I had spreadsheets to give me current status and future projections. However, I justified it by allowing me to view the big picture. But, as I get deeper into retirement, it is painfully obvious, that optimization is no longer the goal. Although my interest has not waned, I must consider my wife and family when I am no longer around. Do I want to leave a complex financial web for my wife and my estate to figure out? How quickly will the current financial picture devolve if it doesn't get constant attention with insider knowledge of its workings? For those reasons, simplify is my mantra now. Suboptimal, yes, but simply superior overall.
It sounds like you have a sizable amount of company stock that provides key dividends to your income. Are you concerned about the risk that the company could experience adverse events that lower or eliminate their dividend or, worse, the stock has a sharp downturn?
The article is chock full of information but reads like a textbook. For me, the HD brand is finance with a personal touch. When an HD article speaks to me, I am attentive and eagerly read the article and comments. I can get macroeconomic news in many other places.
Mark, I was struck by the fact that you both agreed to retire together. What is the motivation behind that decision? I will posit this. If you think that you both have to start this thing at the same time to maximize the experience, I would say it’s not necessarily so. You both need to find your groove independently. It’s less about vacations together and more about how you spend each day. She could reduce her hours, for instance. Shifting to deaccumulation is jarring at first. Some income can make the transition easier.
I recall starting my career and filling out the forms for investing in the company’s savings plans. I put 0%. HR had my manager talk to me. I was so angry that someone was telling me what to do with my money; I was so clueless. I changed it to something like 5% to appease my boss and HR. I started noticing that savings grow. I began reading that one should save between 10-15%. I followed this advice blindly - not taking into account any expenses, any budget. I don’t even think I had a concept of what retirement savings meant. Then, my take home pay was my budget. And, most importantly, my savings habit established. Dick, I find your articles entertaining - especially the comments. There’s a couple of folks you trigger no matter the topic and all hell breaks loose. I propose a WWE-style match, 5 minutes, no holds barred, winner takes all. Let’s decide this thing once and for all!
Dick, a couple of questions for you. I would like to get more ejumacated about how SS funding happens. I understand about the revenue streams from FICA taxes on individual incomes and SS benefit taxes, but the trust funds process makes my head spin (and the posts here were confusing without context). Is there a place to read how this process works - something with visuals and clear/accessible language? Also, you mentioned that you calculated how you have received more in benefits than you paid in FICA taxes using your earnings record. How did you calculate your FICA taxes on those earnings without having pay stubs or income tax records? Is that available from logging in ssa.gov?
Comments
I can’t quite drink the Bengen Kool-Aid. Basically, I setup a spreadsheet for my income/expenses each year until “end of plan” at age 95 - includes inflation factors, house selling/buying, Social Security, etc. It becomes painfully obvious when I see it all laid out, that life gets in the way of systemic withdrawal rates; there’s just too many hits that spike expenses up or down. My exercise can give me a warm fuzzy for overall plan sustainability, but life will refuse to be made linear.
Post: Is 4.7% the New 4% Safe Withdrawal Rate
Link to comment from August 23, 2025
It’s important to at least ponder the family dynamics of treating one child differently than another. Will disproportionate treatment result in resentment between children?
Post: Letting Go
Link to comment from July 26, 2025
You might consider complementary therapies to go with the chemo and radiation. There is ginger for nausea (e.g. ginger tea). There are high dose infusions of Vitamin C or Vitamin D. Fasting before/during/after treatments. Low glycemic diets. Most of these need to be directed by someone who understands your situation since the treatments can vary. Search "integrative medical cancer center" for examples. Also, there is a web site called conqueringcancer.com that can help you explore the topic. All is not lost. Keep the fire burning.
Post: Extra Innings
Link to comment from July 13, 2025
I struggled through the accumulation phase with complexity vs simplicity. Complexity took the most effort and promised the most reward. Simplicity took the least effort but was usually suboptimal. I chose the middle path by adding some complexity, but not too much. Yes, I had spreadsheets to give me current status and future projections. However, I justified it by allowing me to view the big picture. But, as I get deeper into retirement, it is painfully obvious, that optimization is no longer the goal. Although my interest has not waned, I must consider my wife and family when I am no longer around. Do I want to leave a complex financial web for my wife and my estate to figure out? How quickly will the current financial picture devolve if it doesn't get constant attention with insider knowledge of its workings? For those reasons, simplify is my mantra now. Suboptimal, yes, but simply superior overall.
Post: Quinn asks, is there anything wrong with keeping it simple?
Link to comment from July 6, 2025
It sounds like you have a sizable amount of company stock that provides key dividends to your income. Are you concerned about the risk that the company could experience adverse events that lower or eliminate their dividend or, worse, the stock has a sharp downturn?
Post: A theoretical, simplified road to retirement income without a pension. I’ve learned it doesn’t exist.
Link to comment from June 28, 2025
The article is chock full of information but reads like a textbook. For me, the HD brand is finance with a personal touch. When an HD article speaks to me, I am attentive and eagerly read the article and comments. I can get macroeconomic news in many other places.
Post: You Never Know
Link to comment from June 7, 2025
Mark, I was struck by the fact that you both agreed to retire together. What is the motivation behind that decision? I will posit this. If you think that you both have to start this thing at the same time to maximize the experience, I would say it’s not necessarily so. You both need to find your groove independently. It’s less about vacations together and more about how you spend each day. She could reduce her hours, for instance. Shifting to deaccumulation is jarring at first. Some income can make the transition easier.
Post: When the Spreadsheet Gets Real
Link to comment from June 7, 2025
I recall starting my career and filling out the forms for investing in the company’s savings plans. I put 0%. HR had my manager talk to me. I was so angry that someone was telling me what to do with my money; I was so clueless. I changed it to something like 5% to appease my boss and HR. I started noticing that savings grow. I began reading that one should save between 10-15%. I followed this advice blindly - not taking into account any expenses, any budget. I don’t even think I had a concept of what retirement savings meant. Then, my take home pay was my budget. And, most importantly, my savings habit established. Dick, I find your articles entertaining - especially the comments. There’s a couple of folks you trigger no matter the topic and all hell breaks loose. I propose a WWE-style match, 5 minutes, no holds barred, winner takes all. Let’s decide this thing once and for all!
Post: Is it possible to achieve financial well being without a plan or even a spreadsheet?
Link to comment from May 31, 2025
Dick, a couple of questions for you. I would like to get more ejumacated about how SS funding happens. I understand about the revenue streams from FICA taxes on individual incomes and SS benefit taxes, but the trust funds process makes my head spin (and the posts here were confusing without context). Is there a place to read how this process works - something with visuals and clear/accessible language? Also, you mentioned that you calculated how you have received more in benefits than you paid in FICA taxes using your earnings record. How did you calculate your FICA taxes on those earnings without having pay stubs or income tax records? Is that available from logging in ssa.gov?
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 12, 2025
Richard, I've never seen a 70/30 baseline category for fund comparisons. What service do you use to get your 70/30 baseline numbers?
Post: Index Three Ways
Link to comment from March 24, 2025