Dear Friends and Family,
Sorry. I am obsessed with retirement planning.
This may be because work is beginning to resemble a bunch of mice scurrying across the deck of a sinking ship. Note: I saw a mouse in the parking garage the other day, and of course a cruise ship did sink, so I may have scurrying rodents and sinking ships top of mind.
I rejiggered my math to look at it a different way. I have a short list of variables: how long we'll live, how much we want for retirement each month, how much we save each month and when we retire. Before, I was keeping everything constant and calculating when we retire. Make sense? Now, instead, I've zeroed out everything and calculated, if we retired today, how much would we have for retirement each month. Still with me?
I'm happy to say, the worst case number, while MUCH lower than our goal, is enough that we would be able to keep food on the table. It wouldn't be glamorous and I'm not sure how health insurance would work and I don't think we'd be able to afford the taxes on our home, but food would be on the table.
I'm also happy to say, the best case number, while also MUCH lower than our goal, is definitely enough to keep food on the table and keep us in our current home and probably keep us from becoming too bitter about life.
And, in a third piece of happiness, I'm happy to say, by delaying retirement one more month, and doing nothing else, we have a little more each month for retirement, since our money has a little more time to grow. How much more? Somewhere between $20 and $50 a month based upon my math.
See? I'm obsessed.
Cheers!
mouse
Sorry. I am obsessed with retirement planning.
This may be because work is beginning to resemble a bunch of mice scurrying across the deck of a sinking ship. Note: I saw a mouse in the parking garage the other day, and of course a cruise ship did sink, so I may have scurrying rodents and sinking ships top of mind.
I rejiggered my math to look at it a different way. I have a short list of variables: how long we'll live, how much we want for retirement each month, how much we save each month and when we retire. Before, I was keeping everything constant and calculating when we retire. Make sense? Now, instead, I've zeroed out everything and calculated, if we retired today, how much would we have for retirement each month. Still with me?
I'm happy to say, the worst case number, while MUCH lower than our goal, is enough that we would be able to keep food on the table. It wouldn't be glamorous and I'm not sure how health insurance would work and I don't think we'd be able to afford the taxes on our home, but food would be on the table.
I'm also happy to say, the best case number, while also MUCH lower than our goal, is definitely enough to keep food on the table and keep us in our current home and probably keep us from becoming too bitter about life.
And, in a third piece of happiness, I'm happy to say, by delaying retirement one more month, and doing nothing else, we have a little more each month for retirement, since our money has a little more time to grow. How much more? Somewhere between $20 and $50 a month based upon my math.
See? I'm obsessed.
Cheers!
mouse
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