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Frugal Retiree! First 20 Years of Retirement Investors W 500k Saw 17% Decrease...

#1
According to the Black Rock Retirement Institute, retirees with over 500k in their portfolio,had drawdown  their savings only 17% in the first 20 years retirement.  why not create a "mad money" account to splurge on,  and insurance products to protect oneself from huge medical bills?
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#2
If someone could tell me today what my longevity, health, unplanned expenses, and investment returns will be for the next 20 years, I would gladly match my planned spending to this 20/20 foresight.
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#3
aclarridge 
I'm right there with you. I'm not yet retired - about 8 years to go - and my two greatest fears are:

 

1)     Not living long enough to get to retirement.

2)      Living so  long in retirement that I run out of money.

 
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#4
Most people would prefer to die rich than die broke. It takes more than money to enjoy life 
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#5
deborah I used to worry about those; I don't worry about either anymore. My solution to the first was to retire early. My solution to the second was to invest well enough and be frugal enough that my net worth is increasing every year even after expenses, because it's hard to run out of money if you're earning more than you're spending. So far I've met that goal each year since retiring.
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#6
Does enjoying life, regardless of circumstances require spending money beyond one’s basic needs or more than one’s income?
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#7
While I think it would be wise to step back and weigh the benefits of spending against costs and risks, few people are that rational. My father for instance was a child of the depression and that shaped his psyche. I honestly believe he feels pain when he spends money, it's like cutting a piece of his flesh off him. Rationally he could surely have indulged in a couple of things that would have made his life better and more comfortable; even to his 90's for instance he never had an air conditioner.
 
I have the "Ant" mindset as well but I'm way more relaxed about my spending. My basic rule though as been to live within my means, spending less than I'm earning, even in retirement. That one simple rule gives me confidence that I won't run out of money and builds in an increase in spending money throughout my retirement without drawing down the principal. In my mind that's a good balance between risk and comfort.
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#8
WOW, I made a plan set it in motion and now I live life for what it is, a once around the roller coaster. I bought my ticket (my retirement plan) and took the seat in the front of the 1st car. There are and will be ups and downs, turns (some sharp and others more graceful) and screams and moments of silence as the cars careen about the track. When the ride ends you can either say 'what a ride' or ask for some towels to clean up the vomit 
 
Anybody else feel the same?
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#9
I have no financial worries at all whether I die tomorrow or in 50 years.
I've been retired for 8,5 years already.
Net Worth has more than doubled over that time.
I still live relatively frugally because that's what I enjoy.
There is no reason or rhyme to change what I enjoy.
7 estimates on my new HVAC system and I'll choose the most cost effective and efficient one.
Just the way I roll. Cool
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