Got my annual “raise” today at 3.5%. The average for the department was 3% so I guess it’s better than a stick in the eye.
Should I pull the plug and RE?
- Today my investments are 0.5% away from 3% withdrawal rate to equal expected spending
- Am invested ~50% in growth funds, 43% in S&P, 7% in bonds and money market
- If I work, I'll earn ~7% of my NW per year
Have you factored in old age costs? Lawn care or household help when it gets to be too much for you to handle on your own. I didn't factor that and am now thinking I will regret that as I'm currently watching my mom start to decline and need more help.
Also increasing medical costs is part of the equation I guess. Aging is a pain. Hence I'm trying to balance retirement with some life left vs earning some more to make things smoother. Having said that, I sort of did take that into account.
As important as your current expenses, where are you in life? By which I mean, is there a likelihood of radical life changes still (marriage, kids, etc) that might completely upend your calculations?
It took 7 years of saving to finally reach 100K net worth. I am so burnt out... will it get easier?
It does get easier. At 100k is about where I started to see the effects of compound interest really take hold. Hang in there. It is so worth it.
I’m 16 years in and also burnt out right now. I think it’s pretty normal to go through bouts of it. Best to find a way to recharge if you can. I’ve got a lot of time off to book over the next six months and I’m hoping that helps for me.
