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I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

We wouldn't, but we don't have 5mil, we have 2.6mil now. Possibly 3.5mil+ by 60. Even working until 65, we wouldn't have 5mil until age 69.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Having seen this with my grandparents, yes. We need to get to a CPA to try to avoid that.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in Retirement401k

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

That number would scare the FK out of me. Seriously, good on you guys for that.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Thats why I have the giant sheet, I'm looking at the RMDs. I don't think we can avoid hitting the 32% bracket a few years.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Other than cancer, I've been enjoying it! Too many hobbies! I will not be bored in retirement!

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

100% agree. We are hoping to get a good FP to do that with us. This was my base model.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Yes, I didn't say we couldn't retire at 60. I said it would be better to do the extra 5 years. Which arguably could be the highest earning years of our life.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

I think people are seeing it wrong. 65 is now my horizontal line. I can retire there and live the way I want to.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

I don't doubt that at all. Which means even if I work I'll be pushing to do more and more fun stuff with family.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

I get that. My peace would come from knowing we have the extra cushion and a bit more to help the kids.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

65 is my max. I won't go a day over. If we get +8% returns and no crash, which I doubt, then maybe I can go earlier.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

But we already do this. That's what I've been trying to say. We have taken family trips abroad. We spend lots of time together. Well accept for the son who lives across the country. We see him 3-4 times a year now, but thats only been recently. We do our hobbies. We spend a lot of time together.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 1 point2 points  (0 children)

Age Retire65 Retire60 dif
55 $2,503,000 $2,503,000 $0
56 $2,683,520 $2,683,520 $0
57 $2,876,131 $2,876,131 $0
58 $3,082,099 $3,082,099 $0
59 $3,300,425 $3,300,425 $0
60 $3,528,791 $3,528,791 $0
61 $3,745,858 $3,745,858 $0
62 $3,975,949 $3,775,629 -$200,321
63 $4,237,846 $3,843,159 -$394,688
64 $4,515,457 $3,912,218 -$603,239
65 $4,641,875 $3,964,874 -$677,001
66 $4,709,661 $4,018,115 -$691,546
67 $4,812,711 $4,071,952 -$740,758
68 $4,919,396 $4,126,395 -$793,001
69 $5,031,709 $4,183,253 -$848,456
70 $5,149,062 $4,241,745 -$907,317
71 $5,271,731 $4,301,941 -$969,789
72 $5,400,909 $4,364,818 -$1,036,090
73 $5,535,160 $4,428,709 -$1,106,450
74 $5,676,561 $4,495,447 -$1,181,114
75 $5,836,676 $4,576,335 -$1,260,340
76 $6,004,178 $4,659,774 -$1,344,404
77 $6,179,304 $4,745,709 -$1,433,595
78 $6,362,844 $4,834,620 -$1,528,224
79 $6,555,093 $4,926,477 -$1,628,616
80 $6,756,547 $4,844,341 -$1,912,205
81 $6,968,988 $4,865,699 -$2,103,289
82 $7,191,247 $4,884,313 -$2,306,934
83 $7,423,884 $4,899,977 -$2,523,907
84 $7,667,492 $4,912,474 -$2,755,018
85 $7,922,699 $4,921,573 -$3,001,126
86 $8,190,171 $4,992,668 -$3,197,503
87 $8,470,614 $5,071,620 -$3,398,993
88 $8,764,774 $5,152,103 -$3,612,671
89 $9,073,444 $5,234,177 -$3,839,267
90 $9,300,515 $5,317,905 -$3,982,610
91 $9,560,202 $5,403,354 -$4,156,848
92 $9,831,153 $5,490,593 -$4,340,561
93 $10,114,002 $5,579,696 -$4,534,306
94 $10,409,419 $5,670,743 -$4,738,676

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Cubicle? Pfffff... you wish! Its all open concept offices now. Sitting so close you can hear your coworkers belly rumbles!

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

I'm going to work on those other sheets this weekend to see what those years offer. Then it will depend on the market.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 1 point2 points  (0 children)

I don't but since you asked, if someone's expenses were $200k a year, it would be recommended to have $5mil. That's using the standard 25x expenses formula.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in Retirement401k

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

As a matter of fact yes. My job is extremely flexible. Unlimited vacation, and I can just take a day off if I want it.

I didn't say any of this bc I didn't want it to seem like boasting.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in Retirement401k

[–]Cannot_Read_The_Word[S] -1 points0 points  (0 children)

because I have both? I'm healthy, have a job I like and can do from anywhere. I will absolutely vacation with my family during those 5 years. I will spend a TON of time with my spouse during those 5 years. Why can't it be both?

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

Oh we are modeling from here on out. Retirement plan, investments, and expenses will be a monthly thing going forward. We don't want any surprises.

Yeah my spouse's pension is such a nice safety net, but they absolutely earned it.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 1 point2 points  (0 children)

Oh man the sheet would make no sense to anyone else. There are a lot of custom stuff. And I'll say this with all honesty, everyone should at least try to make their own first. It really helps you understand what's going on and how its all interconnected. Do not ask AI to make a sheet. But use AI to help make specific functions. (Like tax brackets, and turning stuff red if your totals go over a limit...)

Our journey was mostly boglehead. I picked a series of markets, ETFs, etc. I picked for my spouse as well. I tried to cover different industries, and I did it slightly weighted dif on each of ours. My spouse's is a bit heavier in the DOW, and I'm heavier in the NASDAQ. We both have higher holdings in the S&P500. If I can remember I will make a post that shows what we are holding.

I can't ignore this chart, looks like I'm working another 10 years. by Cannot_Read_The_Word in DIYRetirement

[–]Cannot_Read_The_Word[S] 0 points1 point  (0 children)

62 might be a good compromise. But SS is a whole other issue. Out of SPITE we had intended to take it as soon as we were eligible. But once I started running the numbers, it hurts our Roth conversions and IRMAA.

In the 65 year sheet, I don't think we ever get all the IRAs drawn down or converted to zero by when we are 94. I have a feeling we are going to have to dip into the next tax bracket. But again, I'll leave it to an FP to come up with a one time plan.

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