In defense of OMY

[Villanelle]

Right on, so if you do nothing and blindly withdraw your 3.5-3.75% annually even during recessions you're still 8x as likely to die than run out of money.....I would say the math is in your favor to quit and do whatever you think will lead you down a happy and fulfilling path till the end of time.

Sent from my SM-N950U using Tapatalk

As always, I think this touches on a key point.  Few people whoa re smart enough to make a lot of money and save much of it are then dumb enough to continue on as though nothing has changed during a major downturn, especially those who are doing fat (or at least chubby) FIRE budgets with lots of fat. 

Markets are down 20%?  Hmmm.  Maybe our travel this year will be a week long driving trip around the semi-local area, staying a few nights with friends, instead of 2 weeks in Europe.  And perhaps we will put off replacing the laptop until next year.

Oh look!  I've trimmed 10% of my budget. 

[bluebelle]

Right on, so if you do nothing and blindly withdraw your 3.5-3.75% annually even during recessions you're still 8x as likely to die than run out of money.....I would say the math is in your favor to quit and do whatever you think will lead you down a happy and fulfilling path till the end of time.

Sent from my SM-N950U using Tapatalk

As always, I think this touches on a key point.  Few people whoa re smart enough to make a lot of money and save much of it are then dumb enough to continue on as though nothing has changed during a major downturn, especially those who are doing fat (or at least chubby) FIRE budgets with lots of fat. 

Markets are down 20%?  Hmmm.  Maybe our travel this year will be a week long driving trip around the semi-local area, staying a few nights with friends, instead of 2 weeks in Europe.  And perhaps we will put off replacing the laptop until next year.

Oh look!  I've trimmed 10% of my budget.

this is very much my plan....at least for the first 20 years.....may not have too much flexibility in the last 20 years - depending on health, alot of physical labour needs to be outsourced....but by the time I'm 80, I'll know I can't outlive my money....I'd have to radically change my life to outlive it now.....and that's with Fat FIRE plans.....it's just my definition of FAT Fire isn't too outlandish.   A once in a lifetime trip really is once in my lifetime, not once a year.  I new car every 10 years.   Good food and family around my table is a better life than any restaurant or 5 star hotel.

[Bloop Bloop]

I would not trust actuarial numbers that cover an entire population since they include all the idiots who get drunk and fall off balconies, are involved in run-off-road single vehicle accidents, blow themselves up, etc.

[Daisy]

I would not trust actuarial numbers that cover an entire population since they include all the idiots who get drunk and fall off balconies, are involved in run-off-road single vehicle accidents, blow themselves up, etc.

Even if you're not one of those idiots you can be a victim of one of those idiots and die way too early. Might as well quit now and enjoy life!

[dragoncar]

I would not trust actuarial numbers that cover an entire population since they include all the idiots who get drunk and fall off balconies, are involved in run-off-road single vehicle accidents, blow themselves up, etc.

Hold my beer

[Dicey]

It depends whether you would derive more joy from the extra security/smugness afforded by the extra stash. That in itself depends on your life circumstances including how much you like your job.

No one can give a definitive answer.

For me, I'm looking to hit certain professional milestones so I'm happy to work till I'm about 45. I also want to make sure I have a big enough stash that I can make gratuitous purchases and still be financially smug. Those are important points of utility for me but for someone else they might have no meaning whatsoever. To each his or her own.

I find your use of the word "smug" particularly curious, especially on this site. Maybe it has a different, less negative connotation in the Land Down Under?

[Bloop Bloop]

It depends whether you would derive more joy from the extra security/smugness afforded by the extra stash. That in itself depends on your life circumstances including how much you like your job.

No one can give a definitive answer.

For me, I'm looking to hit certain professional milestones so I'm happy to work till I'm about 45. I also want to make sure I have a big enough stash that I can make gratuitous purchases and still be financially smug. Those are important points of utility for me but for someone else they might have no meaning whatsoever. To each his or her own.

I find your use of the word "smug" particularly curious, especially on this site. Maybe it has a different, less negative connotation in the Land Down Under?

It also has a negative connotation here - highly or excessively self-satisfied. But I meant to use it in that way. Self-satisfaction and contentedness can contribute to happiness, depending on your personality and thinking style.

What did you mean by "especially on this site"? Are Mustachians meant to be less smug than usual? If anything, MMM's posts and terminology (face punch, clown cars, Anti-Mustachian) come off to me as being slightly smug.

[Hargrove]

All the Facepunch stuff isn't supposed to be about the speaker's self-satisfaction, it's supposed to be about giving a jolt to help people recognize how uncritically we agree to waste so much of what we have.

I don't equate smugness with happiness.

[TomTX]

That calculator was a real eye opener for me. At 57 with a nice stash, it was a great visual that showed me I was WAY more likely to end up dead than broke.

Expected living age is a bit misleading. Friend of mine works in the health sector and he once pointed out that there is a quite significant difference between expected living age for you gender and country at birth vs expected living age conditional on having reached aged 50.

Which is why that calculator uses your life expectancy based on your age at retirement and your gender.

[joshuagraham_xyz]

"One more year", for those wondering.

I think that acronyms that have a number should use the number - e.g., "1" says a lot more than "O".  I'd also prefer "+" to "M" for "more".  Thus, I'd acronymize this as "+1Y".

[dragoncar]

"One more year", for those wondering.

I think that acronyms that have a number should use the number - e.g., "1" says a lot more than "O".  I'd also prefer "+" to "M" for "more".  Thus, I'd acronymize this as "+1Y".

Thank you for your suggestion.  We value your feedback.  Your satisfaction with our acronyms is our number one priority (NOP).  Your request has been denied.

[Mmm_Donuts]

"One more year", for those wondering.

I think that acronyms that have a number should use the number - e.g., "1" says a lot more than "O".  I'd also prefer "+" to "M" for "more".  Thus, I'd acronymize this as "+1Y".

Thank you for your suggestion.  We value your feedback.  Your satisfaction with our acronyms is our number one priority (NOP).  Your request has been denied.

Shouldn't that be N1P?

[bluebelle]

"One more year", for those wondering.

I think that acronyms that have a number should use the number - e.g., "1" says a lot more than "O".  I'd also prefer "+" to "M" for "more".  Thus, I'd acronymize this as "+1Y".

SMF
Thank you for your suggestion.  We value your feedback.  Your satisfaction with our acronyms is our number one priority (NOP).  Your request has been denied.

Shouldn't that be N1P?

[Roboturner]

Shouldn't that be N1P?

....  Your request has been denied.