Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 2
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?


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.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.