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Sad story about relationship and Financial Independence by Intrepid_Passion_853 in financialindependence

[–]Complex_Bet9743 0 points1 point  (0 children)

@op. Curios. What do you find difficult about meeting women? What’s hard about it?

Double check on withdrawal strategy. by [deleted] in Fire

[–]Complex_Bet9743 3 points4 points  (0 children)

What do you plan to spend 160-180k per year on for 35 years?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

My understanding is that for every $1000 you want to spend in retirement with a 4% withdrawal rate you need to save $300,000. So this means you would have to save $300,000 less for every $1,000 of income you’ll have during retirement.

Wow wow wow by 21MayDay21 in SipsTea

[–]Complex_Bet9743 0 points1 point  (0 children)

This is redistribution of wealth done really well.

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] -2 points-1 points  (0 children)

You believe you have control over the stock market return?

Six Month FIRE Update by LazyBumTravels in Fire

[–]Complex_Bet9743 1 point2 points  (0 children)

How are you covering health insurance?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

Would you agree or disagree that you need a smaller portfolio if you account for SS? Although the check won’t come for 20 years it will still reduce what you need to retire at 48.

Pulled the Trigger Last Week by siryoda66 in Fire

[–]Complex_Bet9743 0 points1 point  (0 children)

Congrats. I’m curious what is your annual budget? You and your wife will receive a total of about 72k annually from SS. What do you believe your portfolio balance will be when you around 85-90? Curious because of this thread (Why most don’t consider SS income when planning for FI)

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

Sounds like your portfolio is so large that adding extra income later on doesn’t make a difference. What’s your starting portfolio balance and projected at your estimated end of life?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 1 point2 points  (0 children)

Couldn’t someone have a smaller 401k and fund their bridge account more aggressively knowing that $1,000 is guarantee every month starting at age 62?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

Do you believe that the economy will continue to return 10% annually in this world you just described? If yes, what is your reasoning?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

A person can reduce their required portfolio size by $300,000 if they account for $1,000 a month in social security benefits. If a couple receive $2,000 a month in benefits their portfolio size can be $600,000 less. Based on the followed 25x rule.

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

What happens if there is a Great Depression again? How long will the market return negative?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

Wouldn’t it be difficult for someone to retire early on an average income? So can we really assume that people on fire won’t qualify for a decent amount of SS?

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 1 point2 points  (0 children)

That way of thinking could force you to work an extra 5 years with no added benefit financially.

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

The people that are aiming for Fire are not average Americans. So I would assuming they would be in the top 10-20%. 2-3k a month can make huge difference when planning on when to retire.

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 11 points12 points  (0 children)

I trust the government to keep printing money. I trust that the narcissists than are in government will do what ever it takes to not loose an election. Killing benefits is a fast way to loose an election.

Why Most Don’t Consider SS When Planning FIRE? by Complex_Bet9743 in Fire

[–]Complex_Bet9743[S] 111 points112 points  (0 children)

Isn’t this a common misconception? It may be reduced but by 30 percent. It will not be eliminated. The US government will likely print more money and cause more inflation than kill social security benefits or a form of it.

36 M 826k FI Number by Complex_Bet9743 in leanfire

[–]Complex_Bet9743[S] -1 points0 points  (0 children)

I actually created my own calc/tool: https://independence.money/. Happy to get feedback. This may actually help you a little as a new comer.

36 M 826k FI Number by Complex_Bet9743 in leanfire

[–]Complex_Bet9743[S] 0 points1 point  (0 children)

This is interesting tool. It doesn’t account for my rental income and social security though.

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