Great question and I love the responses. I’m very content. The fact that there are so many different types out there tells me you’re all doing well. Hindsight is 20/20 of course but as it has been said before “How much is enough?” Some will never be satisfied and will always want just a bit more. I’m content to enjoy the returns we’ve been getting and the fact that I don’t worry or fret or have to keep “tweaking” our portfolio. Keeping an eye on things of course; and stayingdiversified is important. But enjoy the money you’ve all worked so hard for and have been diligently looking after. Remember life is short.
I think this is an important topic, but is similar to the question when to claim SS. It’s personal and varies from person to person. If you consistently earn say 9% on your nest egg year in and year out, then 6% is a safe withdrawal rate because the remaining 3% is consistently being reinvested. By retirement age, most of us have figured out our standard of living. So relax and enjoy some (or a lot), of your hard earned money. After all you can’t take it with you.
I’ve lived in Hawaii for 46 years and we have a saying for high prices, “Lucky you live Hawaii!” It’s a sarcastic phrase, but used often when referring to the higher cost of living. Keep in mind tariffs are only going to increase the cost of imported goods and products from foreign countries, not things made in America. The issue we have in the islands is that everything is either flown or shipped in from the U.S. mainland and when there’s a monopoly like there is here in Hawaii then Hawaii residents are taken advantage of on nearly everything even though it’s all made in America. What we need is more competition with shipping companies and barge companies and airlines. Let’s not blame tariffs for the high cost of living in Paradise.
I thoroughly enjoying reading your posts Dick. So we’re in our mid 60’s, retired for four years now, but my elderly in-laws are still alive and my wife is their primary care giver. As a result we are “stuck” in Hawaii, but we’ve been here for nearly 50 years. Both us came here as teenagers in the 1970’s for different reasons. Since then we’ve raised two children. However, they along with our four grandkids live in TX and VA. So Lord willing our plan is once the parent’s expiration dates are up we plan on moving. Looking to live approximately equal distance between our kids, perhaps in Winchester, TN, although we’ve never been there, but who knows we’ll just have to wait and see. As for lava in our backyard that will never happen and the weather 99.9 percent of the time is like “paradise”. 😎
Well done! 👍 with 1.2 million I would (and did) retired early. With that as her nest egg and social security at 65 she can easily have her gross income in retirement and enjoy annual COLA’s as well. And if her husband has the same or even more available good for them both. Enjoy the fruits of your labor. They’ll still be plenty left to pass on to your heirs.
It was early in my career as a civil servant and I had just made the minimum time in grade when a position opened up for the next pay grade. I asked my supervisor if I had what it takes to apply for the position and she was totally onboard. I’m very grateful to this day for her response and her willingness to support me.
Interesting you mention North Korea. My father in-law (97) along with hisb11 siblings were all born in North Korea. After war broke out in 1950 they fled south. In the mid to late 70’s they immigrated to the US (Hawaii to be exact), and all have had a very good life since. I’ve been married (happily), to my bride (who was born in South Korea) for 39 years.
Looks like you’re on track for a great retirement financially speaking. My concern is that what are you going to do for the first 8 years while your wife is still working? I’m on year number four of retirement and loving it. What I’ve found is that it’s best when both spouses retire at the same time. So my recommendation is have your spouse retire early. You have more than enough money and you will quickly find that both of you being free is the ideal choice. Enjoy this season of your life together. Don’t worry about the additional money your wife would have made during the next eight years. Your time together far outweighs this. Plus when you hit 70 you can cash in on your social insecurity. And your wife can begin collecting as soon as she’s eligible. Enjoy this season of life. You never know when your last day will come.
Congrats Mike on making a decision to purchase your dream car. Not only have you sacrificed your entire life; you’ve now got both the cash and courage to do what most of us never will. Sounds to me like a lot of fun. Enjoy and be safe.
Comments
Great question and I love the responses. I’m very content. The fact that there are so many different types out there tells me you’re all doing well. Hindsight is 20/20 of course but as it has been said before “How much is enough?” Some will never be satisfied and will always want just a bit more. I’m content to enjoy the returns we’ve been getting and the fact that I don’t worry or fret or have to keep “tweaking” our portfolio. Keeping an eye on things of course; and stayingdiversified is important. But enjoy the money you’ve all worked so hard for and have been diligently looking after. Remember life is short.
Post: Optimizer or Satisficer?
Link to comment from November 1, 2025
I think this is an important topic, but is similar to the question when to claim SS. It’s personal and varies from person to person. If you consistently earn say 9% on your nest egg year in and year out, then 6% is a safe withdrawal rate because the remaining 3% is consistently being reinvested. By retirement age, most of us have figured out our standard of living. So relax and enjoy some (or a lot), of your hard earned money. After all you can’t take it with you.
Post: Is 4.7% the New 4% Safe Withdrawal Rate
Link to comment from August 23, 2025
I’ve lived in Hawaii for 46 years and we have a saying for high prices, “Lucky you live Hawaii!” It’s a sarcastic phrase, but used often when referring to the higher cost of living. Keep in mind tariffs are only going to increase the cost of imported goods and products from foreign countries, not things made in America. The issue we have in the islands is that everything is either flown or shipped in from the U.S. mainland and when there’s a monopoly like there is here in Hawaii then Hawaii residents are taken advantage of on nearly everything even though it’s all made in America. What we need is more competition with shipping companies and barge companies and airlines. Let’s not blame tariffs for the high cost of living in Paradise.
Post: Reacting to the Tariffs
Link to comment from August 11, 2025
I thoroughly enjoying reading your posts Dick. So we’re in our mid 60’s, retired for four years now, but my elderly in-laws are still alive and my wife is their primary care giver. As a result we are “stuck” in Hawaii, but we’ve been here for nearly 50 years. Both us came here as teenagers in the 1970’s for different reasons. Since then we’ve raised two children. However, they along with our four grandkids live in TX and VA. So Lord willing our plan is once the parent’s expiration dates are up we plan on moving. Looking to live approximately equal distance between our kids, perhaps in Winchester, TN, although we’ve never been there, but who knows we’ll just have to wait and see. As for lava in our backyard that will never happen and the weather 99.9 percent of the time is like “paradise”. 😎
Post: Let’s revisit the pros and cons of relocating upon retirement
Link to comment from August 3, 2025
Well done! 👍 with 1.2 million I would (and did) retired early. With that as her nest egg and social security at 65 she can easily have her gross income in retirement and enjoy annual COLA’s as well. And if her husband has the same or even more available good for them both. Enjoy the fruits of your labor. They’ll still be plenty left to pass on to your heirs.
Post: 100% Base Pay Replacement: What Does It Mean?
Link to comment from July 27, 2025
It was early in my career as a civil servant and I had just made the minimum time in grade when a position opened up for the next pay grade. I asked my supervisor if I had what it takes to apply for the position and she was totally onboard. I’m very grateful to this day for her response and her willingness to support me.
Post: What’s the best career advice you ever got?
Link to comment from July 27, 2025
Interesting you mention North Korea. My father in-law (97) along with hisb11 siblings were all born in North Korea. After war broke out in 1950 they fled south. In the mid to late 70’s they immigrated to the US (Hawaii to be exact), and all have had a very good life since. I’ve been married (happily), to my bride (who was born in South Korea) for 39 years.
Post: Don’t Discount Luck
Link to comment from July 26, 2025
Looks like you’re on track for a great retirement financially speaking. My concern is that what are you going to do for the first 8 years while your wife is still working? I’m on year number four of retirement and loving it. What I’ve found is that it’s best when both spouses retire at the same time. So my recommendation is have your spouse retire early. You have more than enough money and you will quickly find that both of you being free is the ideal choice. Enjoy this season of your life together. Don’t worry about the additional money your wife would have made during the next eight years. Your time together far outweighs this. Plus when you hit 70 you can cash in on your social insecurity. And your wife can begin collecting as soon as she’s eligible. Enjoy this season of life. You never know when your last day will come.
Post: Roth Conversion Timing and Amounts to Maximize Benefits
Link to comment from July 20, 2025
😊 I agree with you.
Post: What About Gold?
Link to comment from June 8, 2025
Congrats Mike on making a decision to purchase your dream car. Not only have you sacrificed your entire life; you’ve now got both the cash and courage to do what most of us never will. Sounds to me like a lot of fun. Enjoy and be safe.
Post: Another HD Post About Cars
Link to comment from May 31, 2025