12-21-2013, 01:34 PM
Wow. Some pretty humble admissions here. Much better than admitted over on Seeking Alpha. Either that or the majority of people are exceedingly well off.
12 years ago, I quit a job paying upper middle class wages with a bevy of benefits to go into business for myself. Stupid, I know, but I was tired of going the extra mile for a corporation that didn't care whether I tried to improve the efficiency of the business nor that I spent many hours of my own time improving my own knowledge and skills in the field. This was shortly after my wife had bought her own business in a case of being in the right place at the right time and fulfilling a dream of hers since she was in high school.
Needless to say, between the two of us and the economy, we went through a large chunk of our retirement savings and me ending in bankruptcy before things stabilized. Right now, we are slowly working our way back and hope to be able to retire in our late 60s.
That being said, I've never thought about having a certain saving to spending ratio. Even more so now that I feel I have a strategy in dividend growth investing. My entire focus is quality companies generating a certain growing revenue stream to augment our Social Security to cover my estimates of spending in retirement. Right now, we've got estimated property taxes, heat and lights covered plus variables like dinner out every once in a while, trips to see grandkids, a movie here and there, etc. The house was paid for over 10 years ago and we raise a lot of our own food with room to expand production.
I take odd jobs here and there and fully expect and want (really need for my sanity) a part time gig when I am retired. I've already got ideas, and no, it's not a Walmart greeter job, lined up in my head.
I too don't want to dip into principal until I hit my 80s, if needed. We'll see how things work out.
12 years ago, I quit a job paying upper middle class wages with a bevy of benefits to go into business for myself. Stupid, I know, but I was tired of going the extra mile for a corporation that didn't care whether I tried to improve the efficiency of the business nor that I spent many hours of my own time improving my own knowledge and skills in the field. This was shortly after my wife had bought her own business in a case of being in the right place at the right time and fulfilling a dream of hers since she was in high school.
Needless to say, between the two of us and the economy, we went through a large chunk of our retirement savings and me ending in bankruptcy before things stabilized. Right now, we are slowly working our way back and hope to be able to retire in our late 60s.
That being said, I've never thought about having a certain saving to spending ratio. Even more so now that I feel I have a strategy in dividend growth investing. My entire focus is quality companies generating a certain growing revenue stream to augment our Social Security to cover my estimates of spending in retirement. Right now, we've got estimated property taxes, heat and lights covered plus variables like dinner out every once in a while, trips to see grandkids, a movie here and there, etc. The house was paid for over 10 years ago and we raise a lot of our own food with room to expand production.
I take odd jobs here and there and fully expect and want (really need for my sanity) a part time gig when I am retired. I've already got ideas, and no, it's not a Walmart greeter job, lined up in my head.
I too don't want to dip into principal until I hit my 80s, if needed. We'll see how things work out.
=====
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan