Comments on: Our Early Retirement Plan: Motivation, Numbers & Tools, and Conclusion (Part 5) http://www.lazymanandmoney.com/our-early-retirement-plan-motivation-numbers-tools-and-conclusion-part-5/ Saving, Earning, and Investing Money Sat, 11 Feb 2012 03:58:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Marc goodin http://www.lazymanandmoney.com/our-early-retirement-plan-motivation-numbers-tools-and-conclusion-part-5/comment-page-1/#comment-113712 Marc goodin Sat, 08 Nov 2008 22:37:18 +0000 http://www.lazymanandmoney.com/?p=1180#comment-113712 All sounds great - keep up the planning - from experience I know you will need to plan and replan every year. I am retiring at 50 in 4 months - lot of plans & have come & gone. I had always thought i would save and invest (in the market) my way to retirement- but in the end it took investing in myself. First in my own business. But even then I was still trading dollars for hours. While working my own business I invested in a couple of businesses that took alot of time and effort to get started but will provide on going retirement income. To keep busy I have just started another business (t shirt on line) With your goals you will make it to early retirement!! - be open to new avenues to retirement. All sounds great – keep up the planning – from experience I know you will need to plan and replan every year.

I am retiring at 50 in 4 months – lot of plans & have come & gone.

I had always thought i would save and invest (in the market) my way to retirement- but in the end it took investing in myself.

First in my own business. But even then I was still trading dollars for hours.

While working my own business I invested in a couple of businesses that took alot of time and effort to get started but will provide on going retirement income.

To keep busy I have just started another business (t shirt on line)

With your goals you will make it to early retirement!! – be open to new avenues to retirement.

]]> By: Calvin Froedge http://www.lazymanandmoney.com/our-early-retirement-plan-motivation-numbers-tools-and-conclusion-part-5/comment-page-1/#comment-113532 Calvin Froedge Fri, 07 Nov 2008 17:00:11 +0000 http://www.lazymanandmoney.com/?p=1180#comment-113532 Great plan and good luck :) It will be interesting in the future to see a post from you if it works out or not. I tend to always over plan things and then not reach them, I need to start setting realistic goals for myself, especially since I'm self-employed and have variable income, most of which I put back into the best for now. Great plan and good luck :) It will be interesting in the future to see a post from you if it works out or not. I tend to always over plan things and then not reach them, I need to start setting realistic goals for myself, especially since I’m self-employed and have variable income, most of which I put back into the best for now.

]]> By: Lazy Man http://www.lazymanandmoney.com/our-early-retirement-plan-motivation-numbers-tools-and-conclusion-part-5/comment-page-1/#comment-113523 Lazy Man Fri, 07 Nov 2008 16:13:28 +0000 http://www.lazymanandmoney.com/?p=1180#comment-113523 Yep, children are going to be a tremendous variable. I know you can set the inflation percentage in FireCalc, so I don't see that as a limitation of the tool, but more a limitation of our ability to predict the future. I don't know if you can set tax rates, but maybe you could "fudge" it by increasing inflation even more. I know that wouldn't be accurate. In the end, when you are 32, nothing is going to be that accurate. What I was looking for is "seems plausible at this stage." It's something that we'll obviously have to look at over time. I may run the numbers every six months and write about how it goes. The needle will swing wildly, but at some point hopefully it settles in a predictable spot. Yep, children are going to be a tremendous variable.

I know you can set the inflation percentage in FireCalc, so I don’t see that as a limitation of the tool, but more a limitation of our ability to predict the future. I don’t know if you can set tax rates, but maybe you could “fudge” it by increasing inflation even more. I know that wouldn’t be accurate.

In the end, when you are 32, nothing is going to be that accurate. What I was looking for is “seems plausible at this stage.” It’s something that we’ll obviously have to look at over time. I may run the numbers every six months and write about how it goes. The needle will swing wildly, but at some point hopefully it settles in a predictable spot.

]]> By: Mr. ToughMoneyLove http://www.lazymanandmoney.com/our-early-retirement-plan-motivation-numbers-tools-and-conclusion-part-5/comment-page-1/#comment-113521 Mr. ToughMoneyLove Fri, 07 Nov 2008 15:58:02 +0000 http://www.lazymanandmoney.com/?p=1180#comment-113521 I agree that you are in great shape but throwing kids (if you go that route) into the mix will be interesting. I like the Firecalc tool although I question how accurate it will be in the face of increased tax rates and inflation for those who are closer to retirement than are you and your wife. Have you looked at the consumption smoothing approach promoted by Burns and Kotlikoff in "Spend 'til the End"? I agree that you are in great shape but throwing kids (if you go that route) into the mix will be interesting. I like the Firecalc tool although I question how accurate it will be in the face of increased tax rates and inflation for those who are closer to retirement than are you and your wife. Have you looked at the consumption smoothing approach promoted by Burns and Kotlikoff in “Spend ’til the End”?

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