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
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?
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.
