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Old 11-17-2020, 03:14 PM   #221
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Snowing today...woke up...had a coffee...went for a run...had breakfast...shovelled driveway...had a shower...worked on house a bit...going to make lunch now...afternoon unscheduled and wide open...LOVE IT!
Wow! You learned FAST!!!!
You're gonna do well.....
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Old 11-17-2020, 04:54 PM   #222
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Budgeting came up in this discussion and tools like Quicken where you have your history are great. A bit about budgeting. I think often it's a misunderstood concept and purpose. I think of it in this way.

It's a forecast based on past and any anticipated changes. It's not an exact scientific tool.

It's a tool for forecasting and as in all forecasts there will be misses, some small, some major, some worse, some better. That's where the real value comes in because if you know what you based the budget on, now you see where you were wrong and you learn.

The earlier you make budgeting a practice, the better you will get at it and the more you will benefit from it. You learn a lot about yourself and your expenditure and you also then decide if certain things are worth it.

The average person has no idea how much certain things are costing them. I've seen persons who newly started budgeting and tracking numbers through Quicken make changes quickly. I know one young lady who got iced tea every morning from a convenience store and every afternoon from Sonic. She had no idea how much that was costing her a month and she now makes her own ice tea at home. The surprise to her was how much more convenient it was. We're seeing huge numbers cutting the cable and switching to streaming services. We also notice all the things where vendors are sneaking the price up. Gym memberships are very good at that. And in states where you have a choice, the amount you can save by switching electricity vendors is staggering. Through budgeting, you acquire information you can use to make changes. Or sometimes you just know to raise the budget.

I've often said that information doesn't have any inherent value, carries no value by itself. It's value is the use you can then make of that information.
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Old 11-17-2020, 05:19 PM   #223
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Wow! You learned FAST!!!!
You're gonna do well.....
I'm a freakin' natural...I just had a nap!!!!
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Old 11-18-2020, 05:23 AM   #224
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Another important aspect of retirement planning and execution is Asset Allocation. I'm sure most here know what it is and what it can achieve. If not, just Google it.

I don't pay anybody to manage my money or investments. Perhaps a fee-only financial advisor might be in the cards some day...when I am no longer able to handle this myself...

What I thought I'd share in this post is an asset allocation spreadsheet tool that I have been using for over 10 years. It's the simplest, most powerful (and free) tool I've encountered thus far. While I love Quicken, I do NOT use it for managing asset allocation, as it's simply not good enough...and not flexible enough. This spreadsheet tool makes "what-iffing" before making asset allocation modifications a piece of cake. Furthermore, there are instructions in it on how to EASILY import portfolio information from Quicken. This can be nice if you maintain your portfolio in Quicken, using share price download feature.

Here's the link to the tool.

https://www.flexibleretirementplanne...cationTool.xls

They have other tools, but I can't comment on them because I haven't tried them:
https://www.flexibleretirementplanne...itional-tools/

There are sample numbers in the asset allocation tool, just to help one get familiar with how the sheet works. Be careful not to step on any of the formulas!
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Old 11-19-2020, 06:41 PM   #225
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An exclamation point was put on my choosing to retire.

I used to miss 5 days out of 7 to go photographing on a day hike. This was more than frustrating in winter, when I'd start and finish work in the dark because winter daylight hours here are pretty short.

Today I went photographing on a trail that starts about a Kilometre from where I live, and on the walk home I met the letter carrier who replaced me on my route. Walked a bit with her and got all the scuttlebutt about how mail/parcel volumes are going crazy, they still haven't hired new employees, and they're having to work overtime on Sundays.

Freedom is Sweet
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Old 11-19-2020, 06:54 PM   #226
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An exclamation point was put on my choosing to retire.

I used to miss 5 days out of 7 to go photographing on a day hike. This was more than frustrating in winter, when I'd start and finish work in the dark because winter daylight hours here are pretty short.

Today I went photographing on a trail that starts about a Kilometre from where I live, and on the walk home I met the letter carrier who replaced me on my route. Walked a bit with her and got all the scuttlebutt about how mail/parcel volumes are going crazy, they still haven't hired new employees, and they're having to work overtime on Sundays.

Freedom is Sweet
....
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Old 11-19-2020, 07:09 PM   #227
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....
Always a solid plan B
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Old 11-19-2020, 07:34 PM   #228
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Freedom is Sweet
Amen brother.
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Old 11-19-2020, 07:48 PM   #229
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For workaholics or nervous nellies about retirement cash flow.... Finding a job that allows a lot of freedom of time , is based on your chosen hobby, and pays decent can be a good thing. It might even last a lot longer than you think it might because it is so much fun.


I found assistance towing in the right place for the right boss fit in so well it lasted 15 years past my first retirement.
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Old 11-19-2020, 08:14 PM   #230
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Greetings,

Mr. MM. I've been retired now for 10 years (maybe??). Some days I do a whole bunch of nothing and get a lot accomplished. Other days I work like the dickens (At least that's what I tell myself) and achieve next to nothing.
I've pretty well given up trying to understand any of this stuff BUT things, amazingly, get done.
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Old 11-19-2020, 08:44 PM   #231
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I found assistance towing in the right place for the right boss fit in so well it lasted 15 years past my first retirement.
I hear 'ya 'bro!

I ran motorcycle trackdays for 16 years on the west coast, best (retired) fun job I ever had, taking $$ from my friends and telling them why they're slow!
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