I still personally like Jonathan's keep it simple style where on January 1 of any given year, you take 5% that year. If you start with $1M you're of course taking $50K a year. The next year if your investment account is $800K, you're adjusting your withdrawal to $40K a year.
We as HD readers are standing by your side with Elaine and your kids. We pray you feel our prayers. There's just no way to tell you how much we continue to honor you.
You said a LOT in there and it's nice to know we're not alone in all of this. Rest up, Mark, you're never going to be on the RIF (reduction in force) list. :)
Welcome to life on the other side of working. You likely won't look back and will take on what we all thought was a trite phrase - how did I ever find time to work? Every day truly is a gift but it's completely your call what you do with that gift - but know that you don't have to have a major accomplishment every single day.
I still say your 5% rule is the way to go and people do like simplicity. Whatever the investment account is that you withdraw from is on January 1st of any given year, you withdraw 5% for that year. If the next year is down with corrections 20%, then so be it. Your withdrawals will be lower so you make the adjustments and move on. I like it and more than that, it is working well.
For many people it turns out to be their only source of income for retirement. While I wouldn't recommend it, what would happen with those people if it weren't for that money.
Such wisdom. I really like the 5% at the beginning of the year formula. If the market is down January 1, so is our spending. Soaking up all the wisdom I can from you.
Such wise advice. Now is when we're able to do it and it feels great, especially when the recipient is at a point in their lives where they are so appreciative.
Comments
I still personally like Jonathan's keep it simple style where on January 1 of any given year, you take 5% that year. If you start with $1M you're of course taking $50K a year. The next year if your investment account is $800K, you're adjusting your withdrawal to $40K a year.
Post: Are you actually using the 4% rule?
Link to comment from September 17, 2025
We as HD readers are standing by your side with Elaine and your kids. We pray you feel our prayers. There's just no way to tell you how much we continue to honor you.
Post: Health Update
Link to comment from September 1, 2025
You said a LOT in there and it's nice to know we're not alone in all of this. Rest up, Mark, you're never going to be on the RIF (reduction in force) list. :)
Post: My New Zero-Wage CEO Role
Link to comment from September 1, 2025
Since we don't have term limits in Congress, change will be slow if ever coming. Hard choices need to be made and bravery to make those changes.
Post: Dealing with a reduction in Social Security benefits. Is there a backup plan?
Link to comment from August 29, 2025
Welcome to life on the other side of working. You likely won't look back and will take on what we all thought was a trite phrase - how did I ever find time to work? Every day truly is a gift but it's completely your call what you do with that gift - but know that you don't have to have a major accomplishment every single day.
Post: Don’t worry, be happy: tripping through the go-go years
Link to comment from August 6, 2025
I still say your 5% rule is the way to go and people do like simplicity. Whatever the investment account is that you withdraw from is on January 1st of any given year, you withdraw 5% for that year. If the next year is down with corrections 20%, then so be it. Your withdrawals will be lower so you make the adjustments and move on. I like it and more than that, it is working well.
Post: Tweaking the 4% Rule
Link to comment from May 5, 2025
For many people it turns out to be their only source of income for retirement. While I wouldn't recommend it, what would happen with those people if it weren't for that money.
Post: You versus Social Security – Quinn is betting against you.
Link to comment from May 4, 2025
My husband has a 1986 Chevy S-10 (original owner) and enjoys the fix up of it. Much as I'd like to say sell sell sell, it's a fun retirement project.
Post: The Opposite of HumbleDollar
Link to comment from May 4, 2025
Such wisdom. I really like the 5% at the beginning of the year formula. If the market is down January 1, so is our spending. Soaking up all the wisdom I can from you.
Post: Jonathan’s Retirement
Link to comment from April 30, 2025
Such wise advice. Now is when we're able to do it and it feels great, especially when the recipient is at a point in their lives where they are so appreciative.
Post: Help Wanted
Link to comment from March 30, 2025