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"Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:44 am
by tennisplyr
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:49 am
by midareff
It's meaning to us .... all base living expenses covered with annuities (pension and SS) and investments produce sufficient income for liberal international travel and luxuries. SWAN every night. We could move to bigger and/or better but are comfortable right where we are.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:51 am
by DrGoogle2017
It means not having to worry about your SWR. :D

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:54 am
by Jimmie
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?
You are there when you meet these three things:
  • You are living.
  • You are comfortable.
  • You are retired.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:56 am
by lthenderson
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
+1 I think that answer is as succinct as any.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:58 am
by PinotGris
lthenderson wrote:
Fri Feb 08, 2019 11:56 am
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
+1 I think that answer is as succinct as any.
I will go one up. It means not knowing what SWR means. :beer

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:02 pm
by jazman12
comfortable to me means that I don't have to worry about finance, all that much, and can focus on ones health and well being mentally. One should not be afraid to step out of their own comfort zone that they have lived their entire lives. There is but one life to live "" :sharebeer so live it""

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:06 pm
by randomguy
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?

For most people it means living as how they have been living. That what they consider comfortable. What that is will vary from person to person.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:09 pm
by Time2Quit
For me the definition is: Be able to do what you want and have your portfolio grow at the same time.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:16 pm
by DrGoogle2017
PinotGris wrote:
Fri Feb 08, 2019 11:58 am
lthenderson wrote:
Fri Feb 08, 2019 11:56 am
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
+1 I think that answer is as succinct as any.
I will go one up. It means not knowing what SWR means. :beer
Haha, good one. I didn’t know either, but after retiring for 3 years plus and reading various forums, I’ve learned not to confused SWR and WR.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:30 pm
by 2015
Living comfortably in retirement is not my goal. My goal encompasses the entirety of what retirement can mean in terms of the potential for my life. So I have intentionally made my "Wildly Important Idea" (per Cal Newport) to make retirement the most financially, materially, emotionally, and psychologically fulfilling time of life. I have most recently dubbed this project as "High Performance Aging" as I intend to take it into the end of my life.

I will never succeed in this project if I am only obsessed with the very narrow fields of investing, personal finance, and microeconomics. Complex adaptive systems such as human beings usually fail when focusing too narrowly. Liability matching has freed me to be unconcerned with these areas in order to place my attention on much more important aspects of living.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:31 pm
by The Wizard
I think it's definitely one step up from the old "living on a fixed income" in retirement refrain...

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 12:39 pm
by HomerJ
I would say it means having all your basic needs met

Most people want more (including me), but a "comfortable" retirement means you have enough money to stay warm, fed, and dry. You have access to TV, Internet, books; you go for walks, you have friends and family, you have a car, and have access to health care.

That is not a bad retirement. That is "comfortable". Not "extravagent" or "luxurious", but basic.

It's not that expensive to have a "comfortable" retirement. You might not get everything you want, but you have a lot. Plenty of people in the world would love to be you.

That's how I see it.

I could retire today, and have a "comfortable" retirement. That does give me peace of mind. I'm working a bit longer to fit in some luxuries, but I know I'd be pretty happy if I had to retire today.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 1:16 pm
by Fallible
HomerJ wrote:
Fri Feb 08, 2019 12:39 pm
I would say it means having all your basic needs met

Most people want more (including me), but a "comfortable" retirement means you have enough money to stay warm, fed, and dry. You have access to TV, Internet, books; you go for walks, you have friends and family, you have a car, and have access to health care.

That is not a bad retirement. That is "comfortable". Not "extravagent" or "luxurious", but basic.

It's not that expensive to have a "comfortable" retirement. You might not get everything you want, but you have a lot. Plenty of people in the world would love to be you.

That's how I see it. ...
This is also very much how I see it, but with one addition: Enough, i.e., that one knows and feels what having enough means so that those basics are enough.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 1:21 pm
by lws
All my basic human needs are met
Have enough resources to satisfy my wants (which are few)

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 1:35 pm
by sailaway
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
That seems beyond comfortable and well into luxury.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 1:38 pm
by Sheepdog
Not in order
Adequate savings to last our life time and more while having it continue to grow so that it can do some good after passing.
Adequate savings to enjoy occasional big trips and other vacations
Adequate savings to enjoy nice restaurants every week.
Adequate savings to enjoy theater, ballet, symphonies and similar arts regularly over every year.
Adequate savings to purchase season tickets for professional and college athletics.
Adequate savings to afford to give to charities regularly.
Adequate savings to have good medical health.
Adequate savings to maintain our home and automobiles.
And, being able to volunteer, and that our children want to return home from many miles away several times a year.

retired 40 years and counting

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 1:39 pm
by J G Bankerton
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?
Comfortable for me is not having to clip coupons or look at the price of wild bird seed before I put it in the cart.
PinotGris wrote:
Fri Feb 08, 2019 11:58 am
lthenderson wrote:
Fri Feb 08, 2019 11:56 am
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
+1 I think that answer is as succinct as any.
I will go one up. It means not knowing what SWR means. :beer
I had to look it up.
sailaway wrote:
Fri Feb 08, 2019 1:35 pm
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
That seems beyond comfortable and well into luxury.
If one has lifetime annuities that will cover all basic needs that is not luxury still no worry about outliving your money.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 2:49 pm
by nguy44
For me it is a combination of finance and emotion. I can live the life I choose, from the savings and investments I made during my working years. And that life is not dependent on others for it to be sustained.

The life I choose is "extravagant" on my own terms... examples:
- I cannot afford a $5 million dollar home, but I have not desire to live in that type of home. My current home is more than I need.
- I could afford a brand new car, but new used cars have served me well, so I am very comfortable with purchasing them.
- Most people only need a single laptop/notebook, but I love playing with PC technology, so I have 10 servers (not counting laptops) in my own. I choose to be extravagant in this area.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 2:57 pm
by Thesaints
It means whatever "comfortable" is for that particular retiree. For some means drinking Bud Light, for others means drinking Cristal.
One important aspect to observe is that planning for Cristal and failing means drinking NV Moet, while planning for Bud and failing means going dry.
Setting one's sight high enough is also a safety factor.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 5:19 pm
by One Ping
As long as I can do what the great sage said ...

“A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do.” ― Bob Dylan

One Ping

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 5:21 pm
by Dottie57
randomguy wrote:
Fri Feb 08, 2019 12:06 pm
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?

For most people it means living as how they have been living. That what they consider comfortable. What that is will vary from person to person.
This.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 6:28 pm
by Will do good
Our parents are healthy and don't need help.
Our kids are all working and seems to be doing well.
We are very healthy according to our doctor and blood works.
We don't need to worry about WR.
Only thing can make it better is seeing a unicorn.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 7:38 pm
by DrGoogle2017
sailaway wrote:
Fri Feb 08, 2019 1:35 pm
DrGoogle2017 wrote:
Fri Feb 08, 2019 11:51 am
It means not having to worry about your SWR. :D
That seems beyond comfortable and well into luxury.
It’s called 7-stool retirement :D. Some legs are shorter than the others, but all COLA’d except my small pension. I don’t depend on my retirement portfolio.

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 7:45 pm
by reggiesimpson
Time2Quit wrote:
Fri Feb 08, 2019 12:09 pm
For me the definition is: Be able to do what you want and have your portfolio grow at the same time.
+1

Re: "Living comfortably in retirement"

Posted: Fri Feb 08, 2019 11:51 pm
by heyyou
No worries, and no hurries.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 12:09 am
by EnjoyIt
HomerJ wrote:
Fri Feb 08, 2019 12:39 pm
I would say it means having all your basic needs met

Most people want more (including me), but a "comfortable" retirement means you have enough money to stay warm, fed, and dry. You have access to TV, Internet, books; you go for walks, you have friends and family, you have a car, and have access to health care.

That is not a bad retirement. That is "comfortable". Not "extravagent" or "luxurious", but basic.

It's not that expensive to have a "comfortable" retirement. You might not get everything you want, but you have a lot. Plenty of people in the world would love to be you.

That's how I see it.

I could retire today, and have a "comfortable" retirement. That does give me peace of mind. I'm working a bit longer to fit in some luxuries, but I know I'd be pretty happy if I had to retire today.
HomerJ, this is exactly how I feel. We are in the same boat. I could retire comfortably today, so instead I went part time. I still get to enjoy my work, I still feel productive which gives me some happiness, and we get to grow our nest egg for some luxuries. All this while I still have plenty of time to enjoy my friends and family.

Life is pretty good for the EnjoyIt family. Sure I can put in a few more days a month and maybe purchase more luxury, but I would rather have the time instead.

Cheers to you HomerJ

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 4:48 am
by The Wizard
DrGoogle2017 wrote:
Fri Feb 08, 2019 7:38 pm
It’s called 7-stool retirement :D. Some legs are shorter than the others, but all COLA’d except my small pension. I don’t depend on my retirement portfolio.
Seven is a lot of legs. Can you explain what they are, in broad terms?

In my case, once I start age 70 SS next year, I won't "need" money from portfolio most months.
My legs at age 70 are:
1) annuity income
2) SS income
3) portfolio income (RMD)

My annuity income derives from three different investment types across several different accounts with the same company (TIAA) so I get several deposits to my checking account on the same day each month. But I still call it one leg...

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 7:39 am
by tennisplyr
HomerJ wrote:
Fri Feb 08, 2019 12:39 pm
I would say it means having all your basic needs met

Most people want more (including me), but a "comfortable" retirement means you have enough money to stay warm, fed, and dry. You have access to TV, Internet, books; you go for walks, you have friends and family, you have a car, and have access to health care.

That is not a bad retirement. That is "comfortable". Not "extravagent" or "luxurious", but basic.

It's not that expensive to have a "comfortable" retirement. You might not get everything you want, but you have a lot. Plenty of people in the world would love to be you.

That's how I see it.

I could retire today, and have a "comfortable" retirement. That does give me peace of mind. I'm working a bit longer to fit in some luxuries, but I know I'd be pretty happy if I had to retire today.
+1

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 7:44 am
by WestUniversity
My needs are more than covered, my wants are very modest and I can do what I want to do, not what I have to do... :beer

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 8:04 am
by dognose
1. Good book to read.

2. Fire in fireplace on cold winter nights.

3. Warm puppy sleeping on lap or by my feet.

4. Good results from latest annual physical exam.

5. 30x annual living expenses socked away in boring Vanguard account.

6. Avoid all threads on Bogleheads Forum that begin this way:
- “Do I Need Umbrella Insurance?”
- “What is My Safe Withdrawal Rate?”
- “Why Not 100 Percent Equities?”
- “Dividend versus Total Return investing?”

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 9:50 am
by J G Bankerton
dognose wrote:
Sat Feb 09, 2019 8:04 am
Good results from latest annual physical exam.
BINGO, we have a winner. I feel fine but every exam they find something fading away. Soon all the kings horses and all the kings men will not be able to put Humpty together again.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 10:22 am
by westie
to me comfortable in retirement means owing no money, having a nest egg I'll never draw from and having 135k in fed pension compensation each year to spend as we like until we die.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 10:33 am
by bearcub
Agree with the post above. Also having a beer when you want + not taking crap from anyone. 8-)

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 10:52 am
by MnD
Having the same comfortable non-frugal discretionary financial standard of living as when working, minus the work. :beer
I would not have wanted to have taken a hit to income in retirement, nor were we interested in oversaving and/or working longer than necessary such that actual (or potential) income in retirement was significantly higher than when working. I don't get the aspiration to "have a nest egg one will never draw from" at all. I thought the whole point of saving and investing for retirement just that, versus an abstract money accumulation exercise. But that's just me.

In the unlikely event I ended up with a "nest egg" I had zero personal utility for, I'd put it to work improving the world we all share.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 10:55 am
by CyclingDuo
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?
Your body will never be comfortable with all the aches and pains of an aging body. The moans and groans start in the 50's and never go away. :mrgreen:

It's much, much more than just the financial aspect. Throw in a HUGE dose of sense of purpose, adjusting to your non-working self identity, social life, family connections, staying mentally active, staying physically active, maintaining good health, community service, helping others, adjusting to being the oldest generation and how those younger view/treat/see you, adjusting at some point to being a widow/widower, etc... to get the overall gestalt of living comfortably in retirement.

It's all one more part of our journey that we will have to adapt and adjust through learning, trial, and experience.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 11:12 am
by Dinosaur Dad
CyclingDuo wrote:
Sat Feb 09, 2019 10:55 am
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?
Your body will never be comfortable with all the aches and pains of an aging body. The moans and groans start in the 50's and never go away. :mrgreen:

It's much, much more than just the financial aspect. Throw in a HUGE dose of sense of purpose, adjusting to your non-working self identity, social life, family connections, staying mentally active, staying physically active, maintaining good health, community service, helping others, adjusting to being the oldest generation and how those younger view/treat/see you, adjusting at some point to being a widow/widower, etc... to get the overall gestalt of living comfortably in retirement.

It's all one more part of our journey that we will have to adapt and adjust through learning, trial, and experience.
Love this. I'm getting closer ... 63 in July ... and am looking at every piece of this puzzle. There are all of these pieces, plus for me, determining how I can help my son launch well in his 20's, and ensuring that DW and I have provision for care once we get older. A little scary, but tremendous opportunties too. Really appreciate the feedback everyone gives on their experience.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 11:16 am
by HomerJ
dognose wrote:
Sat Feb 09, 2019 8:04 am
1. Good book to read.

2. Fire in fireplace on cold winter nights.

3. Warm puppy sleeping on lap or by my feet.

4. Good results from latest annual physical exam.

5. 30x annual living expenses socked away in boring Vanguard account.

6. Avoid all threads on Bogleheads Forum that begin this way:
- “Do I Need Umbrella Insurance?”
- “What is My Safe Withdrawal Rate?”
- “Why Not 100 Percent Equities?”
- “Dividend versus Total Return investing?”
I like this response a lot. :)

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 11:24 am
by socaldude
Having enough.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 11:39 am
by marcopolo
Dottie57 wrote:
Fri Feb 08, 2019 5:21 pm
randomguy wrote:
Fri Feb 08, 2019 12:06 pm
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?

For most people it means living as how they have been living. That what they consider comfortable. What that is will vary from person to person.
This.
Is this really true for a lot of people?
I agree it varies greatly from person to person, but I would find it a bit surprising if it entailed living as how they have been.

I have found my wants and needs to be very different in different phases of my life.

The life I lived as a single in my 20s (living in cities, youthful lifestyle) was very different than during our married, child raising, years (suburbs, kids school/travel sports). In retirement my needs and wants are very different. I no longer need to worry about quality of schools, or job opportunities, when choosing where to live. That opens up a lot of new possibilities.

I now have so much more freedom than i had when working/raising kids. It would almost seem a bit of a waste of those opportunities to live just like we did before.

Comfortable, for us, is to have the health and wealth to live the lifestyle we want for the next phase of our lives.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 12:01 pm
by J G Bankerton
bearcub wrote:
Sat Feb 09, 2019 10:33 am
... + not taking crap from anyone. 8-)
Then don't be a property owner where you are responsible to clear public sidewalks.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 4:02 pm
by Davinci
"Living comfortably in retirement"
"Enough". Currently reading the book, one of the best by Jack with amazing life's philosophy!

If one has been blessed with many diamonds through life, all you need in retirement: Warm house, food on the table, health, love, essentailly enough to cover all your basic needs and anything else is extra.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 4:07 pm
by MathWizard
Being able to pursue what I want not what the boss wants.

I think I have things I can contribute, and they don't cost much money,but take time. I've been selling my time to out good on the table,but will not have to in retirement.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 4:23 pm
by Sandtrap
CyclingDuo wrote:
Sat Feb 09, 2019 10:55 am
tennisplyr wrote:
Fri Feb 08, 2019 11:44 am
We often hear the goal/promise of living comfortably in retirement. What does that term mean to you, how do you know when you're there? Is it purely a financial thing, is it an emotional status, some combo, etc?
Your body will never be comfortable with all the aches and pains of an aging body. The moans and groans start in the 50's 30's and never go away. :mrgreen:

It's much, much more than just the financial aspect. Throw in a HUGE dose of sense of purpose, adjusting to your non-working self identity, social life, family connections, staying mentally active, staying physically active, maintaining good health, community service, helping others, adjusting to being the oldest generation and how those younger view/treat/see you, adjusting at some point to being a widow/widower, etc... to get the overall gestalt of living comfortably in retirement.

It's all one more part of our journey that we will have to adapt and adjust through learning, trial, and experience.
Well said!
This is wonderful!!!
dognose wrote: ↑Sat Feb 09, 2019 6:04 am
1. Good book to read.

2. Fire in fireplace on cold winter nights.

3. Warm puppy kitty sleeping on lap or by my feet.

4. Good results from latest annual physical exam.

5. 30x annual living expenses socked away in boring Vanguard account.

6. Avoid all threads on Bogleheads Forum that begin this way:
- “Do I Need Umbrella Insurance?”
- “What is My Safe Withdrawal Rate?”
- “Why Not 100 Percent Equities?”
- “Dividend versus Total Return investing?”
Knowing but not acting on any of the following:
1 You can finally buy anything in the grocery store no matter the cost, but don't.
2 You can finally go on a later life mid life crisis and buy any extravagant car, but don't.
3 You can finally change your lifestyle and everything about your physical surroundings, but don't.

But, sometimes doing something that costs money. . . . just because you can. :D

Retaining the best of what is valued prior to retirement and discarding what is extraneous while growing in retirement.
j

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 5:30 pm
by snackdog
Comfortable means not being homeless or hungry. If you have a roof over your head and enough to eat you are ahead of a huge fraction of people on the planet. Everyone in the US can be comfortable, if they so choose, without a lot of work.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 5:48 pm
by hoops777
2015 wrote:
Fri Feb 08, 2019 12:30 pm
Living comfortably in retirement is not my goal. My goal encompasses the entirety of what retirement can mean in terms of the potential for my life. So I have intentionally made my "Wildly Important Idea" (per Cal Newport) to make retirement the most financially, materially, emotionally, and psychologically fulfilling time of life. I have most recently dubbed this project as "High Performance Aging" as I intend to take it into the end of my life.

I will never succeed in this project if I am only obsessed with the very narrow fields of investing, personal finance, and microeconomics. Complex adaptive systems such as human beings usually fail when focusing too narrowly. Liability matching has freed me to be unconcerned with these areas in order to place my attention on much more important aspects of living.
To each their own.I would say on this topic most people would put financial freedom first because having enough money enables you to do what you want, eliminates the stress of worrying about money and creates freedom.When you have enough of it there’s no reason to be obsessed or narrowly focused on it.

Re: "Living comfortably in retirement"

Posted: Sat Feb 09, 2019 9:14 pm
by 2015
hoops777 wrote:
Sat Feb 09, 2019 5:48 pm
2015 wrote:
Fri Feb 08, 2019 12:30 pm
Living comfortably in retirement is not my goal. My goal encompasses the entirety of what retirement can mean in terms of the potential for my life. So I have intentionally made my "Wildly Important Idea" (per Cal Newport) to make retirement the most financially, materially, emotionally, and psychologically fulfilling time of life. I have most recently dubbed this project as "High Performance Aging" as I intend to take it into the end of my life.

I will never succeed in this project if I am only obsessed with the very narrow fields of investing, personal finance, and microeconomics. Complex adaptive systems such as human beings usually fail when focusing too narrowly. Liability matching has freed me to be unconcerned with these areas in order to place my attention on much more important aspects of living.
To each their own.I would say on this topic most people would put financial freedom first because having enough money enables you to do what you want, eliminates the stress of worrying about money and creates freedom.When you have enough of it there’s no reason to be obsessed or narrowly focused on it.
Thanks very much for helping to clarify, hoops, and you are exactly right. I have worked and sacrificed many years to be in the position to arrange my financial affairs so that I don't have to think about them. Thus, I'm able to focus on things more important to me. I agree health and financial freedom are the foundation of a comfortable retirement, without which comfort could be pretty hard to come by.

Re: "Living comfortably in retirement"

Posted: Sun Feb 10, 2019 12:18 am
by smectym
If Retired Household X (“RHX”)’s investment portfolio generates passive income which, combined with social security, exceeds the income of the median U.S. working-years household, I submit that RHX is objectively “comfortable in retirement.” RHX is essentially “living the rentier lifestyle,” as the money flows in even though RHX isn’t working. That sounds comfortable enough. Of course the subjective or neurotic foibles of RHX are beyond the ken of rational analysis, so nothing prevents RHX from protesting, “But we still don’t FEEL comfortable...etc.”

Smectym

Re: "Living comfortably in retirement"

Posted: Sun Feb 10, 2019 12:36 am
by smectym
Davinci wrote:
Sat Feb 09, 2019 4:02 pm
"Living comfortably in retirement"
"Enough". Currently reading the book, one of the best by Jack with amazing life's philosophy!

If one has been blessed with many diamonds through life, all you need in retirement: Warm house, food on the table, health, love, essentailly enough to cover all your basic needs and anything else is extra.
Fair points (but not sure about the “many diamonds” reference—a self-help book I missed? Or is that one of the gems in “Enough!”) but I wouldn’t treat “love” as something readily available to any retiree like air or water. Divorce leads to loneliness and loneliness can really take the fun out of things and there’s an epidemic of that among those at or near retirement age right now. “Health” can’t be summoned by a snap of the fingers either.

Let’s temper the urge to gently lecture others about “the really important things other than money.” Many people can’t control some of those really important things, but they can do something about the money part. That’s what this forum is about.

Smectym

Re: "Living comfortably in retirement"

Posted: Sun Feb 10, 2019 4:19 am
by HIinvestor
For me, living comfortably means knowing I have the means not to be a financial burden to our kids as we age and need increasing assistance to live our daily lives, in addition to paying all our expenses and living at or above the level we enjoyed pre-retirement.

Ideally, sufficient funds would come from retirement annuity, SS, RMDs and investments (such as net proceeds from rentals, net dividends & distributions).