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Got my annual “raise” today at 3.5%. The average for the department was 3% so I guess it’s better than a stick in the eye.
Should I pull the plug and RE?
- Today my investments are 0.5% away from 3% withdrawal rate to equal expected spending
- Am invested ~50% in growth funds, 43% in S&P, 7% in bonds and money market
- If I work, I’ll earn ~7% of my NW per year
Have you factored in old age costs? Lawn care or household help when it gets to be too much for you to handle on your own. I didn’t factor that and am now thinking I will regret that as I’m currently watching my mom start to decline and need more help.
Also increasing medical costs is part of the equation I guess. Aging is a pain. Hence I’m trying to balance retirement with some life left vs earning some more to make things smoother. Having said that, I sort of did take that into account.
As important as your current expenses, where are you in life? By which I mean, is there a likelihood of radical life changes still (marriage, kids, etc) that might completely upend your calculations?
