Chris Roessler

Comments:

• This has been an enjoyable forum to read with a number of different perspectives. I'm approaching 56 and have wanted to retire early but didn't know how to get there and am cautious about making a mistake in this decision. HD has been very informative in the thought process. Philip Stein's HD article (https://humbledollar.com/2023/10/a-profitable-read/) and its citation of Bernstein's Four Pillars of Investing unlocked a retirement income path I've become inclined to trust. The part that helped the most is having as much 'safe assets' as possible to pay for a number of years of living expenses. From this I created a spreadsheet that focuses on annual income from 2028 to 2070 to see what I could reasonably expect. I broke our assets into risk assets (all but safe and nonliquid), safe assets (as defined by Bernstein), and nonliquid assets (mostly our home). I transfer 6% of safe assets per year into withdrawal for income and replenish that amount annually from the risk assets. I assume no growth on the safe assets, providing a semblance of accounting for inflation. The risk assets grow at 6% per year. The annual withdrawals amount to about 2% of total assets. The nonliquid assets grow at 2% per year and aren't reduced along the way, thinking this may account for wherever we live, including long term care. To this I add expected income from annuity-like (though with more uncertain upside and downside) investments in first 10 years of retirement and then SS starting at age 70. The pretax retirement income is roughly 70% of present pretax income. I'd like to work on rough budget for this income, as well as which accounts withdrawals should come from, but it looks like retiring at 59 is reasonable. Using conservative assumptions adds to the likelihood of success. So I offer this as an income-focused approach to the retirement date decision. I tried editing this spreadsheet to what I think most folks might have to work with and it seems like one would need a fairly large net worth, annuity-like income, or SS to make retirement sustainable. Going back to saving and investing for many years is again a take-home lesson.

  Post: RDQ says ignore those big scary numbers

  Link to comment from August 23, 2024

• Wow, Jonathan. That is heavy news and it stunned me. I've been following you since the mid 90s on the WSJ Sunday column. You've shaped my financial habits and approach to life. Whenever someone is looking to get on the right track financially, I offer a bit of input but mostly refer them to Humble Dollar. And I've learned that experiences and people are much more fulfilling than stuff. The grace and equanimity in how you're dealing with this unfortunate health outcome are true to the person I've come to know these past decades. It doesn't surprise me but it is nonetheless remarkable. You should feel good about the life you've lead and will lead in your remaining time. Go forth as you've described and know that you have affected many lives in tremendously positive fashion. With the utmost gratitude and respect, Chris

  Post: The C Word

  Link to comment from June 15, 2024

• Understand, Joe. Driving is fun and very effective if they don't handle it well. Drop is great though if it's working and you can keep them from driving it back at you. I'm more of a finesse player so inclined to drop but I find mixing it up keeps other side off balance. Like throwing in an occasional topspin lob to their backhand, too. Guess it depends on the situation, what's working, and who I'm playing. Lived in Missoula for one winter in '96-97. Had a great time teaching skiing at Snowbowl. Guess you have to play pball indoors this time of year.

  Post: My Five Lessons

  Link to comment from January 19, 2024

• Glad you made it to retirement and are enjoying it, Joe. I've been interested in early retirement for many years. Thanks to this site, I'm getting a lot of input on how to do that. Super helpful. Target is 4 years away at 59. Question for you - third shot drive or drop;? Love pickleball and tennis, as well.

  Post: My Five Lessons

  Link to comment from January 18, 2024