Early-retirement wannabe

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  • tigerspill
    tigerspill Posts: 774 Forumite
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    gadgetmind wrote: »
    Living Off Your Money uses a "worst case" period of 2000 to 2010 to get the dot com crash and the credit crisis, and it then "wraps around" to 1928 to add the great depression into the mix.

    BTW the worst real year to retire based on the dataset was 1969.

    Hi,
    Just reading thread and have added this book to my amazon "wish list" for consideration.
    Are you suggesting that because it uses this worst case, it is of limited use? Ot just making this point for information?

    Thanks
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    tigerspill wrote: »
    Are you suggesting that because it uses this worst case, it is of limited use? Ot just making this point for information?

    By no means is the book of limited use, in fact, it's so packed with information that it's one to read twice, once to understand all of the arguments and reasoning, and the second time to extract the key information that's needed to use the companion spreadsheets.

    This nightmare scenario comes in towards the end of the book and I'll have to check again to understand the key arguments that arose off the back of it, TBH!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • tigerspill
    tigerspill Posts: 774 Forumite
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    gadgetmind wrote: »
    By no means is the book of limited use, in fact, it's so packed with information that it's one to read twice, once to understand all of the arguments and reasoning, and the second time to extract the key information that's needed to use the companion spreadsheets.

    This nightmare scenario comes in towards the end of the book and I'll have to check again to understand the key arguments that arose off the back of it, TBH!

    Thanks. Think I will order it up.
    Do the companion spreadsheets come on a CD or something or do you download them?
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    Free to download here but of no use unless you've read the book.

    http://livingoffyourmoney.com/
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
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    ognum wrote: »
    In retirement we need our house that is that size for the space it gives and the ability to have room for hobbies and office space.

    Can’t see we will ever need less space!

    I agree with that. We have lived in our house for almost 30 years and done a lot to it so have no plans to move. It has 4 bedrooms and a small 5th bed/study which is my study/hobby room and DH has the small 4th bed as his hobby room/study. We keep one bedroom for our granddaughter so she has somewhere to sleep during the day and somewhere to keep all her stuff when we look after her and one spare for our elder daughter who lives 100 miles away so visits quite often. So no rooms that are unused and no hassle about moving, taking a chance on new neighbours etc.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • ams25
    ams25 Posts: 260 Forumite
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    gadgetmind wrote: »
    I see downsizing as an option but have always run pensions/investment to let us retire without it being forced upon us.

    this is our position. I see downsizing primarily as a potential source of funds for long term care and maybe to help the kids on the property ladder..... But not required for the short or medium term retirement plan....
  • OldMusicGuy
    OldMusicGuy Posts: 1,758 Forumite
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    It's different for us. It's always been our plan to downsize. We live in a very expensive part of the country and have been here for 20 years. It's been a great family home but it is bigger than we need and it's also an "executive home" in the suburbs. My wife and I both like design and DIY, so we plan to move to a more characterful property in a nicer part of the country (which will also be cheaper) that we can renovate as a project together. We will be creating our home for the next 20 years together, and we want to do that while we are still both fit enough to undertake a lot of DIY. The next home will also be more geared up for us as we get older and we hope we won;t have to move again until it is time for us (or one of us) to go into a flat.

    We will need room for hobbies, but what we don't need is 3 large reception rooms and 3.5 bathrooms.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
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    Sounds exciting Oldmusicguy and yes moving to a cheaper part of the country sounds like a good idea. We already live in the South West where many retire to anyway and cannot see us moving elsewhere especially as both our daughters have remained in the area, one in the same town.

    I have just written my retirement speech for my party tomorrow which is nostalgic but still not doubting I am doing the right thing by going early. My organisation has changed so much over recent years and only today we were mulling over the latest stupid decision the powers that be have made.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • miss_not_alotofmoneypenny
    miss_not_alotofmoneypenny Posts: 69 Forumite
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    Bitcoin...... Missed the boat
    Fear not however, "Digibyte" is due to depart very soon!
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    Bitcoin has fallen 30% in five days, so not a boat I'd fancy risking my life in.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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