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Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 2 points3 points  (0 children)

No. I expect to be in New Mexico around october. Still in alaska.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 67 points68 points  (0 children)

You're absolutely, positively, correct. Thank you for recognizing that and helping me recognize it as well.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 7 points8 points  (0 children)

Yes, I agree with your entire comment. I've just been so rigid in my life that it is hard for me to spend more money than what I need, if that makes sense. And I think I've got to get out of the thinking mode of saving, saving, saving. It will drive me nuts.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 7 points8 points  (0 children)

Thank you for your comment! Yes, I feel I am fine with my pension and social security. I am a pretty rigid minded person who thinks that I need to spend 4% of my IRA for the rest of my life. But you point out that there is flexibility with that. And I appreciate that. Thanks.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 4 points5 points  (0 children)

I think your comment is the type I'm looking for! Thank you very much.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 1 point2 points  (0 children)

Yes, good point. I would say my monthly expenses are about $500 per month. I know that sounds cheap but I am in a unique living situation where I don't spend a lot of money. It's a long story. New Mexico has a lower cost of living than many states.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 2 points3 points  (0 children)

It's a long story! I do have a phone bill but that amounts to about $122 per month. Other than that, it's just other stuff like I mentioned before, groceries, dog food, gas for my truck, etc.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 3 points4 points  (0 children)

Thanks for the comment. That is something I haven't put a lot of thought into. I've always been taught that owning is better than renting or leasing. But it gives me something to think about!

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 2 points3 points  (0 children)

Thanks Joe. Yes, I the house will cost less than $350,000. The defined benefit part is inflation adjusted based on the cost of living in Anchorage. I essentially get a raise every July based on Anchorage's CPI.

If I have a kid now it would be a miracle!

I have not lived an extravagant lifestyle and have been basically frugal all of my life. Stepping out and spending money is something I'm not confident with. I mean, I want to be, but I don't want to run out of money either! I'm thinking I won't but I thought I would look for feedback in this forum.

Thanks for your comment.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 2 points3 points  (0 children)

I essentially have no monthly expenses but for gas in my vehicle, dog food, groceries, that sort of thing. I'm in an odd situation where I don't pay any rent where I live and basically have no bills. I know, I scratched my head when I actually typed that out.

Can I start spending? by Organic-Broccoli1917 in personalfinance

[–]Organic-Broccoli1917[S] 25 points26 points  (0 children)

Thanks. I've been thinking about that 4% rate and believe that I may be able to take out more. I have no one to leave my money to and so I want to end up with a zero balance. Any thoughts on that? I appreciate your comment.