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So, how difficult is it for you to project your retirement expenses? For those of you who are within 1-2 years of retirement, how confident are you with your projections? For those of you who’ve retired in the last few years, did you over-estimate or under-estimate your expenses?

Calvin


I'm in the range of 5-7 years of being able to FIRE myself. However, even if my investments return 20% a year and according to the numbers I can FIRE earlier, I will not.

Reason being, I don't want to FIRE until I have accomplished 3 objectives.

1) All 3 children graduated from HS (only one child left at this point that is currently in 7th grade)
2) Mortgage Paid off
3) Able to live at a mid-range income level at the 4% SWR. At this time, I estimate an inflation adjusted income need in the 50-50k range for my DW and I 6 years from Jan 1 2008.

Back to the point of your post. Having a mortgage and having dependent children adds to the complexity level of estimating a budget considerably. So in order for me to get that warm fuzzy feeling before I pull the "wage slave" plug, I want all 3 conditions to be met.

decath
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