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Thread: Some early retirement data

  1. #1
    Senior Member dmc's Avatar
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    Some early retirement data

    I thought Id look over some data to see where Im at since I retired 11 years ago.

    We currently spend 50% more than we did in 2007. This was a surprise.

    Our net worth is up 66% since 2007. And this was at the beginning of the year, not after the crash.

    Im going to have to look into if I take my SS next year when I turn 62. Im thinking I will as taxes will be a concern if I wait.

    So far financially things are better than I hoped. I figured if my net worth stayed stable that I would be happy.

    A lot of the increase in spending was because of purchasing the plane. I did not plan that, also moving to Florida is costing us a little more as we seem to be doing more hobbies.

  2. #2
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    Is the other part of the "we" still working? Or is that a royal we?

  3. #3
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    That is great! Enjoy your money now while you can. That’s why you worked all those years.

  4. #4
    Senior Member dmc's Avatar
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    Quote Originally Posted by Yppej View Post
    Is the other part of the "we" still working? Or is that a royal we?
    .

    i quit just a few months before I turned 50, the wife was a few months past 50. And she is a couple of years younger so I believe she worked till 2009 or maybe 2010. She needed to put in enough years to be eligible for medical benefits. We have to pay the full amount now, but can stay on her plan. Currently it’s $1450 a month for both of us.

    We both had good incomes and were saving 50% or so. And we had some good investments over the years.

    And we just had our 38th wedding anniversary last week. She was a old maid of 19 when we got married. Still finished college and got her masters and specialist degrees while raising two kids.

    I had just gotten out of college and had a job in Texas lined up and owned a pickup truck that my dad bought for me. She had no car and some school loans and borrowed some for the wedding.

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    DMC, glad it worked out so well. Life is work and luck and when they intersect it is awesome.

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    Congratulations! 38 years is impressive.

  7. #7
    Senior Member SteveinMN's Avatar
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    Doing well, dmc!
    If Americans expended even a fraction of the energy on civic engagement that we spend on consumer ideology, our democracy would be much healthier. Can you imagine people camping out to vote? -- Charles Roberts, Amherst, Mass., Nov. 25, 2006

  8. #8
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    Congrats DMC! Great journey this has been for you and DW.

    I had to go to my data for comps.

    Our current year we are spending just 87% of what we did in 2007 (no mortgages are part of that). Our income is up only 15% so not keeping up with COLA. According to data, we're behind by $11000.

    Our net worth is up 232%.

    We are currently 57. I'm retiring at 60 (as long as I continue to enjoy my work) and DH plans to work until 65 because he loves his new IT security work.

    One thought would be to put your SS into a ROTH IRA in the lower tax years?

  9. #9
    Senior Member dmc's Avatar
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    I’m not sure I can buy a Roth IRA without earned income. I may take some out of my reqular IRA and do it that way, I still have to watch my tax rates.

  10. #10
    Senior Member rosarugosa's Avatar
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    Yes, either you or wife needs earned income to do a Roth.

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