Comments on: Retirement Calculations – Part I http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/ A Blog About Early Retirement and Happiness Thu, 09 Sep 2010 12:44:27 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Canadian Dream: Free at 45 » Blog Archives » The Semi-Retired Calculations - Part I http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-40424 Canadian Dream: Free at 45 » Blog Archives » The Semi-Retired Calculations - Part I Mon, 22 Feb 2010 12:52:35 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-40424 [...] long time readers you are well aware that about once a year I sit down and recalculate how much I need to retire.  Basically I update my assumptions and find out if I’m any closer.  Given that this year [...] [...] long time readers you are well aware that about once a year I sit down and recalculate how much I need to retire.  Basically I update my assumptions and find out if I’m any closer.  Given that this year [...]

]]> By: Weekly Reads: Switch to Monday Edition | Sententia // Perspective http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-20179 Weekly Reads: Switch to Monday Edition | Sententia // Perspective Mon, 16 Feb 2009 16:10:52 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-20179 [...] Retirement Calculations (5-part series; from Canadian Dream: Free at 45). The keeners among us are busy maxing out retirement plans, collecting income statements from employers, and maybe even filing taxes in hopes of a juicy return. For me, it’s also a time to dream — and plan — about achieving financial independence and having the option of leaving the workforce. If you haven’t given much thought to the numbers, or just aren’t sure where to begin (and are Canadian) this series is way cool. [...] [...] Retirement Calculations (5-part series; from Canadian Dream: Free at 45). The keeners among us are busy maxing out retirement plans, collecting income statements from employers, and maybe even filing taxes in hopes of a juicy return. For me, it’s also a time to dream — and plan — about achieving financial independence and having the option of leaving the workforce. If you haven’t given much thought to the numbers, or just aren’t sure where to begin (and are Canadian) this series is way cool. [...]

]]> By: Canadian Dream: Free at 45 » Blog Archives » Retirement Calculations - Part III http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19936 Canadian Dream: Free at 45 » Blog Archives » Retirement Calculations - Part III Wed, 11 Feb 2009 12:17:13 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19936 [...] a question from Part I was “am I depending on downsizing my home to retire early?”  The answer is no.  I do [...] [...] a question from Part I was “am I depending on downsizing my home to retire early?”  The answer is no.  I do [...]

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19919 Canadian Dream Wed, 11 Feb 2009 02:42:54 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19919 Adam, Good question. I'll get to that in part III. Tim Adam,

Good question. I’ll get to that in part III.

Tim

]]> By: Adam http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19888 Adam Tue, 10 Feb 2009 15:47:55 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19888 Canadian Dream: I agree, some years I get away with near nothing and others I spend 2%. Very much dependent on the age of the home. Is downsizing your home part of your plan at all? With no kids etc, could you not sell your family home and move into a lower maintenance condo and realize some of the capital sitting tied up in a larger detached home? I know I plan on downsizing as our home is far to large for our needs in retirement. Canadian Dream:

I agree, some years I get away with near nothing and others I spend 2%. Very much dependent on the age of the home.

Is downsizing your home part of your plan at all? With no kids etc, could you not sell your family home and move into a lower maintenance condo and realize some of the capital sitting tied up in a larger detached home?

I know I plan on downsizing as our home is far to large for our needs in retirement.

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19882 Canadian Dream Tue, 10 Feb 2009 12:14:14 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19882 SP, I agree that keeping the extra cash for potential medical is preferred. Mintycake, $3000 was picked as an average amount. Some years it's going to be higher and other years there may not be any travel. House maintenance number is partly based on the fact I'm planning on building a ecohouse when I pull the plug so I will be living in new housing. Depending on the age of your house you should adjust that number upwards. Adam, 1% strikes me as excessive over a long term average. As I mentioned it depends on the house age some what. Tim SP,

I agree that keeping the extra cash for potential medical is preferred.

Mintycake,

$3000 was picked as an average amount. Some years it’s going to be higher and other years there may not be any travel. House maintenance number is partly based on the fact I’m planning on building a ecohouse when I pull the plug so I will be living in new housing. Depending on the age of your house you should adjust that number upwards.

Adam,

1% strikes me as excessive over a long term average. As I mentioned it depends on the house age some what.

Tim

]]> By: Adam http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19855 Adam Mon, 09 Feb 2009 23:14:12 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19855 They say 1% of your homes value per year for maintenance etc. for me that amounts to about 6K a year. I do a lot of work myself which reduces that number, but I can easily see it eating that much up per year with a roof here and a leak there and an appliance over there... They say 1% of your homes value per year for maintenance etc.

for me that amounts to about 6K a year. I do a lot of work myself which reduces that number, but I can easily see it eating that much up per year with a roof here and a leak there and an appliance over there…

]]> By: Mintycake http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19839 Mintycake Mon, 09 Feb 2009 16:47:18 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19839 Great post but isn't $3000 a year a little low for two people to travel? I guess it depends on what kind of travel you are doing. For example, a hotel room in Europe is going to cost about $250 per night...that would drive up costs considerably! Also $1000 in house maintenance is a little low IMHO...we just got a new furnace that cost over $5000, our roof was really expensive, new washer and dryer will cost us $2500, our new living room window alone as $1500...and that's just one thing per year (Maybe I'm jaded on this point because it seems like every year since I moved into my house we've had to do some major reno/replacement). Great post but isn’t $3000 a year a little low for two people to travel? I guess it depends on what kind of travel you are doing. For example, a hotel room in Europe is going to cost about $250 per night…that would drive up costs considerably! Also $1000 in house maintenance is a little low IMHO…we just got a new furnace that cost over $5000, our roof was really expensive, new washer and dryer will cost us $2500, our new living room window alone as $1500…and that’s just one thing per year (Maybe I’m jaded on this point because it seems like every year since I moved into my house we’ve had to do some major reno/replacement).

]]> By: Caitlin @ Clutter Cubed http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19838 Caitlin @ Clutter Cubed Mon, 09 Feb 2009 16:36:26 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19838 Fascinating! This is just the sort of information I love to read about! The fact that you're in Canada makes it all the sweeter (and more relevant)! Fascinating! This is just the sort of information I love to read about! The fact that you’re in Canada makes it all the sweeter (and more relevant)!

]]> By: Silicon Prairie http://blog.canadian-dream-free-at-45.com/2009/02/09/retirement-calculations-part-i/comment-page-1/#comment-19836 Silicon Prairie Mon, 09 Feb 2009 15:01:10 +0000 http://blog.canadian-dream-free-at-45.com/?p=623#comment-19836 If you can cover the travel expenses with a sustainable withdrawal rate it would be nice to be able to keep using that cash for other things afterwards (maybe higher medical costs at that point?). Of course you'll always be able to find a reason that you could use another $10-20,000 in your portfolio. If you can cover the travel expenses with a sustainable withdrawal rate it would be nice to be able to keep using that cash for other things afterwards (maybe higher medical costs at that point?). Of course you’ll always be able to find a reason that you could use another $10-20,000 in your portfolio.

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