The “I want to retire soon” thread (2 Viewers)

[Gally]

I don't plan on actually retiring. I work about 20 hours a week and that seems fine. I don't factor SS into my financial planning. If I get something from it it will be a windfall.

I am definitely not planning to rely on SS in any way. It's more of an added bonus along the way.

 

[Riffraff]

I don't plan on actually retiring. I work about 20 hours a week and that seems fine. I don't factor SS into my financial planning. If I get something from it it will be a windfall.

I am definitely not planning to rely on SS in any way. It's more of an added bonus along the way.

I'm hoping to rely on the newly realized Social Security coin to pay down/off the last few years of the mortgage. 'Free' money to pay down the principal which will free up both a few years later.
My Mortgage is the final bill 'with an end date'.

Bank bill + SS pension funds = a lot of annual 'fun life' spending money.

 

[Peggy]

Question on spousal social security to make sure I understand it right.

Scenario - Let’s say a married couple is the same age. The higher earner will qualify for $3,000 a month at age 65 and the lower earner will qualify for $800 a month at age 62.

Would the lower earner collect $800 a month starting at age 62, and then that bumps up to $1,500 (50%) once the higher earner starts collecting their SS at age 65?

Basically, does the 50% rule start once the higher earner starts collecting, even if that is before full retirement age (67)?

Thanks again to all the super smart peeps in this thread!

Yes, i believe so. And (someone correct me if I'm wrong) she has to start taking 50% whenever you decide to start taking SS. So we're going to have her take her own as soon as possible and then decide when to make the switch later on.

 

[Peggy]

I don't plan on actually retiring. I work about 20 hours a week and that seems fine. I don't factor SS into my financial planning. If I get something from it it will be a windfall.

Then you should think of it as "financially independent" instead of "retired".

It's the point at which you can do whatever the heck you want to when you wake up in the morning. If that's continuing to work part-time time - knock yourself out.

 

[Yo Mama]

I mentioned Andy Panko's podcast so I decided to jump ahead and listen to his advice on the current topic being discussed.

I can't find a direct link but here's the episode and his podcast webpage
#106 - How to decide the optimal time to start your Social Security benefits

You can jump ahead to 13:30 if you want to get past the basics. Especially interesting is the tax discussion towards the end.

Just listened to this - thanks for the recommendation.

The factor I hadn’t considered before is the potential for tax benefits from waiting to draw SS (more years with lower income to withdraw from pre-tax accounts).

Interesting to think about.

 

[Mookie]

I mentioned Andy Panko's podcast so I decided to jump ahead and listen to his advice on the current topic being discussed.

I can't find a direct link but here's the episode and his podcast webpage
#106 - How to decide the optimal time to start your Social Security benefits

You can jump ahead to 13:30 if you want to get past the basics. Especially interesting is the tax discussion towards the end.

Just listened to this - thanks for the recommendation.

The factor I hadn’t considered before is the potential for tax benefits from waiting to draw SS (more years with lower income to withdraw from pre-tax accounts).

Interesting to think about.

That's why I'm waiting until 70 for SS. Keeps our income down (I will also have pension) so I can minimize tax hit of shifting $ out of my 401(k) and 457 accounts and into Roth. Lower income can also help with health insurance subsidies to bridge the healthcare gap until I turn 65 ... if Congress allows.

 

[Sullie]

Question on spousal social security to make sure I understand it right.

Scenario - Let’s say a married couple is the same age. The higher earner will qualify for $3,000 a month at age 65 and the lower earner will qualify for $800 a month at age 62.

Would the lower earner collect $800 a month starting at age 62, and then that bumps up to $1,500 (50%) once the higher earner starts collecting their SS at age 65?

Basically, does the 50% rule start once the higher earner starts collecting, even if that is before full retirement age (67)?

Thanks again to all the super smart peeps in this thread!

This is interesting to me; I've never heard about this before, thank you for presenting this question. So, out of sheer ignorance and curiosity, I ran this through AI and it came up with this:

Here's how it works in your scenario:​

• Higher Earner: Eligible for $3,000/month at age 65.
• Lower Earner: Eligible for $800/month at age 62.

Key Points to Understand:​

1. Spousal Benefit Basics:
   
   • A spouse can receive up to 50% of the higher earner’s full retirement benefit (not necessarily what they receive at the time they claim).
   • This is based on the higher earner’s Full Retirement Age (FRA) benefit — which is typically at age 66–67 depending on birth year.
2. Claiming Early Reduces Benefits:
   
   • If the lower earner claims their own benefit at age 62, they’ll receive a reduced amount — in your example, $800.
   • If they later switch to a spousal benefit, that benefit will also be reduced if they are still under their own FRA when they switch.
3. Spousal Benefit Eligibility:
   
   • The lower earner cannot receive a spousal benefit until the higher earner has started collecting their own Social Security.
   • Once the higher earner starts collecting (say, at age 65), the lower earner becomes eligible for the spousal benefit — but again, the amount is reduced if the lower earner is under FRA.

---

So, in your scenario:​

• The lower earner starts collecting $800 at age 62.
• When the higher earner starts collecting at age 65, the lower earner becomes eligible for a spousal benefit.
• However, the spousal benefit will not be a full 50% ($1,500) unless the lower earner waits until their own FRA (likely age 67).
• If the lower earner is still under FRA when switching to the spousal benefit, it will be reduced — possibly somewhere between $1,100–$1,300 depending on exact ages and timing.

---

Summary:​

• Yes, the spousal benefit becomes available once the higher earner starts collecting, even if it's before their FRA.
• No, the lower earner won’t automatically get the full 50% unless they wait until their own FRA to claim the spousal benefit.

 

[cubd8]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

 

[Yo Mama]

Question on spousal social security to make sure I understand it right.

Scenario - Let’s say a married couple is the same age. The higher earner will qualify for $3,000 a month at age 65 and the lower earner will qualify for $800 a month at age 62.

Would the lower earner collect $800 a month starting at age 62, and then that bumps up to $1,500 (50%) once the higher earner starts collecting their SS at age 65?

Basically, does the 50% rule start once the higher earner starts collecting, even if that is before full retirement age (67)?

Thanks again to all the super smart peeps in this thread!

This is interesting to me; I've never heard about this before, thank you for presenting this question. So, out of sheer ignorance and curiosity, I ran this through AI and it came up with this:

Here's how it works in your scenario:​

• Higher Earner: Eligible for $3,000/month at age 65.
• Lower Earner: Eligible for $800/month at age 62.

Key Points to Understand:​

1. Spousal Benefit Basics:
   • A spouse can receive up to 50% of the higher earner’s full retirement benefit (not necessarily what they receive at the time they claim).
   • This is based on the higher earner’s Full Retirement Age (FRA) benefit — which is typically at age 66–67 depending on birth year.
2. Claiming Early Reduces Benefits:
   • If the lower earner claims their own benefit at age 62, they’ll receive a reduced amount — in your example, $800.
   • If they later switch to a spousal benefit, that benefit will also be reduced if they are still under their own FRA when they switch.
3. Spousal Benefit Eligibility:
   • The lower earner cannot receive a spousal benefit until the higher earner has started collecting their own Social Security.
   • Once the higher earner starts collecting (say, at age 65), the lower earner becomes eligible for the spousal benefit — but again, the amount is reduced if the lower earner is under FRA.

---

So, in your scenario:​

• The lower earner starts collecting $800 at age 62.
• When the higher earner starts collecting at age 65, the lower earner becomes eligible for a spousal benefit.
• However, the spousal benefit will not be a full 50% ($1,500) unless the lower earner waits until their own FRA (likely age 67).
• If the lower earner is still under FRA when switching to the spousal benefit, it will be reduced — possibly somewhere between $1,100–$1,300 depending on exact ages and timing.

---

Summary:​

• Yes, the spousal benefit becomes available once the higher earner starts collecting, even if it's before their FRA.
• No, the lower earner won’t automatically get the full 50% unless they wait until their own FRA to claim the spousal benefit.

Awesome - thanks for digging into this!

 

[Sullie]

Question on spousal social security to make sure I understand it right.

Scenario - Let’s say a married couple is the same age. The higher earner will qualify for $3,000 a month at age 65 and the lower earner will qualify for $800 a month at age 62.

Would the lower earner collect $800 a month starting at age 62, and then that bumps up to $1,500 (50%) once the higher earner starts collecting their SS at age 65?

Basically, does the 50% rule start once the higher earner starts collecting, even if that is before full retirement age (67)?

Thanks again to all the super smart peeps in this thread!

This is interesting to me; I've never heard about this before, thank you for presenting this question. So, out of sheer ignorance and curiosity, I ran this through AI and it came up with this:

Here's how it works in your scenario:​

• Higher Earner: Eligible for $3,000/month at age 65.
• Lower Earner: Eligible for $800/month at age 62.

Key Points to Understand:​

1. Spousal Benefit Basics:
   • A spouse can receive up to 50% of the higher earner’s full retirement benefit (not necessarily what they receive at the time they claim).
   • This is based on the higher earner’s Full Retirement Age (FRA) benefit — which is typically at age 66–67 depending on birth year.
2. Claiming Early Reduces Benefits:
   • If the lower earner claims their own benefit at age 62, they’ll receive a reduced amount — in your example, $800.
   • If they later switch to a spousal benefit, that benefit will also be reduced if they are still under their own FRA when they switch.
3. Spousal Benefit Eligibility:
   • The lower earner cannot receive a spousal benefit until the higher earner has started collecting their own Social Security.
   • Once the higher earner starts collecting (say, at age 65), the lower earner becomes eligible for the spousal benefit — but again, the amount is reduced if the lower earner is under FRA.

---

So, in your scenario:​

• The lower earner starts collecting $800 at age 62.
• When the higher earner starts collecting at age 65, the lower earner becomes eligible for a spousal benefit.
• However, the spousal benefit will not be a full 50% ($1,500) unless the lower earner waits until their own FRA (likely age 67).
• If the lower earner is still under FRA when switching to the spousal benefit, it will be reduced — possibly somewhere between $1,100–$1,300 depending on exact ages and timing.

---

Summary:​

• Yes, the spousal benefit becomes available once the higher earner starts collecting, even if it's before their FRA.
• No, the lower earner won’t automatically get the full 50% unless they wait until their own FRA to claim the spousal benefit.

Awesome - thanks for digging into this!

You're welcome but I have to thank you for mentioning this. Like I said, I've never heard about this before, it's good to know. . . man, I really need to speak to a financial advisor, I am so, so ready to retire it's not even funny.

 

[Sand]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

Optimally you'd fill up the standard deduction (31k married, etc.) with dividends and 401k withdrawals - i.e. regular income. Then out of a regular investment account sell long term bonds/stocks for long term capital gains. Doing it that way you can get to a ~$125k for a couple and pay no federal income tax. Or you can do the same thing, show ~80k income/LTCG for a couple and claim ACA tax credits.

Great link to look at taxes for mixing income and LTCG: https://engaging-data.com/tax-brackets-legacy/

 

[jamny]

I'm only partially through the audiobook of Bill Bengen's new book, A Richer Retirement, but it already seems to be a definitive guide on the subject, covering lots of material. I wouldn't recommend it for someone just beginning to understand the topic but it's not too complex to overwhelm someone that has a basic understanding. It's pretty much a step-by-step guide in how to calculate your own individual withdrawal rate. The audiobook comes with a pdf of tons of charts. I'll probably buy the actual book to have them all in one place.

 

[-OZ-]

I’m rather enjoying my mini retirement so far this week. The only bad thing personally is not knowing when it will end.

 

[Sand]

I’m rather enjoying my mini retirement so far this week. The only bad thing personally is not knowing when it will end.

I'm unsure how to respond to this.

Condolences and :finger:?

 

[-OZ-]

I’m rather enjoying my mini retirement so far this week. The only bad thing personally is not knowing when it will end.

I'm unsure how to respond to this.

Condolences and :finger:?

That seems appropriate.
We’ll get paid, someday.

 

[Craig_MiamiFL]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

Optimally you'd fill up the standard deduction (31k married, etc.) with dividends and 401k withdrawals - i.e. regular income. Then out of a regular investment account sell long term bonds/stocks for long term capital gains. Doing it that way you can get to a ~$125k for a couple and pay no federal income tax. Or you can do the same thing, show ~80k income/LTCG for a couple and claim ACA tax credits.

Great link to look at taxes for mixing income and LTCG: https://engaging-data.com/tax-brackets-legacy/

This is really valuable information. Particularly for those looking to retire early

 

[cubd8]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

Optimally you'd fill up the standard deduction (31k married, etc.) with dividends and 401k withdrawals - i.e. regular income. Then out of a regular investment account sell long term bonds/stocks for long term capital gains. Doing it that way you can get to a ~$125k for a couple and pay no federal income tax. Or you can do the same thing, show ~80k income/LTCG for a couple and claim ACA tax credits.

Great link to look at taxes for mixing income and LTCG: https://engaging-data.com/tax-brackets-legacy/

This is really valuable information. Particularly for those looking to retire early

What are the most reliable dividend stocks for people to consider?

 

[Sand]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

Optimally you'd fill up the standard deduction (31k married, etc.) with dividends and 401k withdrawals - i.e. regular income. Then out of a regular investment account sell long term bonds/stocks for long term capital gains. Doing it that way you can get to a ~$125k for a couple and pay no federal income tax. Or you can do the same thing, show ~80k income/LTCG for a couple and claim ACA tax credits.

Great link to look at taxes for mixing income and LTCG: https://engaging-data.com/tax-brackets-legacy/

This is really valuable information. Particularly for those looking to retire early

What are the most reliable dividend stocks for people to consider?

Dividend aristocrats.

Dividend.com

www.dividend.com

 

[Chadstroma]

Yea... this isn't happening for me now.

 

[kutta]

Yea... this isn't happening for me now.

Did something specific happen?

 

[Desert_Power]

Yea... this isn't happening for me now.

Did something specific happen?

Thread 'Wife Beat Breast Cancer and Now Beating Brain Cancer'

Oct 12, 2022

Yes, I know there are tons of cancer threads. I hope you guys will indulge me of one more as my wife is very private and I am the opposite. So, I can't verbally throw up on other people but feel like I need an outlet. She would not be happy if she knew about this thread but it is somewhat anonymous and I am not going to tell her about it. I need to vent.


My wife felt a lump on her breast. The frustrating thing for me right now is that this was a while ago. She had a hard time with Doctors and appointments for a while.... and I am pissed off at myself right now because I didn't push...

• Chadstroma
• Replies: 584
• Forum: Footballguys Free For All

• 
• 
• 

 

[Chadstroma]

Yea... this isn't happening for me now.

Did something specific happen?

Thread 'Wife Beat Breast Cancer and Now Beating Brain Cancer'

Oct 12, 2022

Yes, I know there are tons of cancer threads. I hope you guys will indulge me of one more as my wife is very private and I am the opposite. So, I can't verbally throw up on other people but feel like I need an outlet. She would not be happy if she knew about this thread but it is somewhat anonymous and I am not going to tell her about it. I need to vent.


My wife felt a lump on her breast. The frustrating thing for me right now is that this was a while ago. She had a hard time with Doctors and appointments for a while.... and I am pissed off at myself right now because I didn't push...

• Chadstroma
• Replies: 584
• Forum: Footballguys Free For All

• 
• 
• 

The two main things that have set me back is the cancer twice for the last 3+ years for my wife which is ongoing but looking forward to treatment ending and getting the all clear this spring.

The other thing was back in 2007 being unemployed/under employed for several years. That drained all my savings/investment accounts then and added debt. Then I started to make progress again and then the battle with cancer redrained the savings/investment accounts that I had built up a tad.

The good news is that through both situations- we did not raid our retirement accounts. I have not added to my retirement accounts much as mortgage broker shops aren't known for having great retirement plans but my wife has been consistent in adding to it.

So the bad news is I can't see retiring early. The good news is that we shouldn't be totally screwed and having to work as a greeter at Wal-Mart type thing. We are both about 50 now- I think 15 years is probably a stretch of time we will need to be in a spot we are comfortable enough to retire.

The other thing is I am kind of over doing mortgages... maybe it is just how I feel now and when things 'normalize' I would feel reinvigorated but as I feel now, I would love to do something else.... what that something else is... no idea.

Such is life. Things happen good and bad and we react to it.

 

[kutta]

Yea... this isn't happening for me now.

Did something specific happen?

Thread 'Wife Beat Breast Cancer and Now Beating Brain Cancer'

Oct 12, 2022

Yes, I know there are tons of cancer threads. I hope you guys will indulge me of one more as my wife is very private and I am the opposite. So, I can't verbally throw up on other people but feel like I need an outlet. She would not be happy if she knew about this thread but it is somewhat anonymous and I am not going to tell her about it. I need to vent.


My wife felt a lump on her breast. The frustrating thing for me right now is that this was a while ago. She had a hard time with Doctors and appointments for a while.... and I am pissed off at myself right now because I didn't push...

• Chadstroma
• Replies: 584
• Forum: Footballguys Free For All

• 
• 
• 

The two main things that have set me back is the cancer twice for the last 3+ years for my wife which is ongoing but looking forward to treatment ending and getting the all clear this spring.

The other thing was back in 2007 being unemployed/under employed for several years. That drained all my savings/investment accounts then and added debt. Then I started to make progress again and then the battle with cancer redrained the savings/investment accounts that I had built up a tad.

The good news is that through both situations- we did not raid our retirement accounts. I have not added to my retirement accounts much as mortgage broker shops aren't known for having great retirement plans but my wife has been consistent in adding to it.

So the bad news is I can't see retiring early. The good news is that we shouldn't be totally screwed and having to work as a greeter at Wal-Mart type thing. We are both about 50 now- I think 15 years is probably a stretch of time we will need to be in a spot we are comfortable enough to retire.

The other thing is I am kind of over doing mortgages... maybe it is just how I feel now and when things 'normalize' I would feel reinvigorated but as I feel now, I would love to do something else.... what that something else is... no idea.

Such is life. Things happen good and bad and we react to it.

I’m really sorry to hear about your wife. It really sucks that an illness in this country can bankrupt people. There’s got to be a better way.
Good to hear you guys are going to be OK .

 

[Chadstroma]

Yea... this isn't happening for me now.

Did something specific happen?

Thread 'Wife Beat Breast Cancer and Now Beating Brain Cancer'

Oct 12, 2022

Yes, I know there are tons of cancer threads. I hope you guys will indulge me of one more as my wife is very private and I am the opposite. So, I can't verbally throw up on other people but feel like I need an outlet. She would not be happy if she knew about this thread but it is somewhat anonymous and I am not going to tell her about it. I need to vent.


My wife felt a lump on her breast. The frustrating thing for me right now is that this was a while ago. She had a hard time with Doctors and appointments for a while.... and I am pissed off at myself right now because I didn't push...

• Chadstroma
• Replies: 584
• Forum: Footballguys Free For All

• 
• 
• 

The two main things that have set me back is the cancer twice for the last 3+ years for my wife which is ongoing but looking forward to treatment ending and getting the all clear this spring.

The other thing was back in 2007 being unemployed/under employed for several years. That drained all my savings/investment accounts then and added debt. Then I started to make progress again and then the battle with cancer redrained the savings/investment accounts that I had built up a tad.

The good news is that through both situations- we did not raid our retirement accounts. I have not added to my retirement accounts much as mortgage broker shops aren't known for having great retirement plans but my wife has been consistent in adding to it.

So the bad news is I can't see retiring early. The good news is that we shouldn't be totally screwed and having to work as a greeter at Wal-Mart type thing. We are both about 50 now- I think 15 years is probably a stretch of time we will need to be in a spot we are comfortable enough to retire.

The other thing is I am kind of over doing mortgages... maybe it is just how I feel now and when things 'normalize' I would feel reinvigorated but as I feel now, I would love to do something else.... what that something else is... no idea.

Such is life. Things happen good and bad and we react to it.

I’m really sorry to hear about your wife. It really sucks that an illness in this country can bankrupt people. There’s got to be a better way.
Good to hear you guys are going to be OK .

No BK, just drained us and added debt.

Really, as long as my kids are healthy and my wife is still around- it is just money and work and that doesn't matter as much.

 

[fruity pebbles]

Yea... this isn't happening for me now.

Did something specific happen?

Thread 'Wife Beat Breast Cancer and Now Beating Brain Cancer'

Oct 12, 2022

Yes, I know there are tons of cancer threads. I hope you guys will indulge me of one more as my wife is very private and I am the opposite. So, I can't verbally throw up on other people but feel like I need an outlet. She would not be happy if she knew about this thread but it is somewhat anonymous and I am not going to tell her about it. I need to vent.


My wife felt a lump on her breast. The frustrating thing for me right now is that this was a while ago. She had a hard time with Doctors and appointments for a while.... and I am pissed off at myself right now because I didn't push...

• Chadstroma
• Replies: 584
• Forum: Footballguys Free For All

• 
• 
• 

The two main things that have set me back is the cancer twice for the last 3+ years for my wife which is ongoing but looking forward to treatment ending and getting the all clear this spring.

The other thing was back in 2007 being unemployed/under employed for several years. That drained all my savings/investment accounts then and added debt. Then I started to make progress again and then the battle with cancer redrained the savings/investment accounts that I had built up a tad.

The good news is that through both situations- we did not raid our retirement accounts. I have not added to my retirement accounts much as mortgage broker shops aren't known for having great retirement plans but my wife has been consistent in adding to it.

So the bad news is I can't see retiring early. The good news is that we shouldn't be totally screwed and having to work as a greeter at Wal-Mart type thing. We are both about 50 now- I think 15 years is probably a stretch of time we will need to be in a spot we are comfortable enough to retire.

The other thing is I am kind of over doing mortgages... maybe it is just how I feel now and when things 'normalize' I would feel reinvigorated but as I feel now, I would love to do something else.... what that something else is... no idea.

Such is life. Things happen good and bad and we react to it.

I’m really sorry to hear about your wife. It really sucks that an illness in this country can bankrupt people. There’s got to be a better way.
Good to hear you guys are going to be OK .

No BK, just drained us and added debt.

Really, as long as my kids are healthy and my wife is still around- it is just money and work and that doesn't matter as much.

This. Money makes things easier but it doesn’t replace the truly important things.

 

[Orange&Blue]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

pension, stocks, and tsp.

 

[Riffraff]

If you're looking to retire early (and taking less SS), what passive income options are people leaning on? Stocks/401K primarily?

Was hoping ____ people would buy me a monthly cup of coffee on Patreon. But if that fails...

Can't compute the regular 4% rule as my situation is much different.

I consider pensions as plans that are set amounts, with COLA increases, that are paid monthly just for staying alive.
(first age year eligible to start collecting)

4 pensions = Military (38), VA (38), Federal (56.10), and Social Security (62)
3 retirement plans to siphon from the earnings (and leave the baseline alone) = TSP (55), 401k (59.5), and 403b (59.5)
Individually not impressive, but when they stack up = living well.

Retired@55 without another day of work** = 7 income streams (already bought and paid for except taxes) at 62 making deposits into the bank account.

** Yard and house work not included

 

[-OZ-]

3 retirement plans to siphon from the earnings (and leave the baseline alone) = TSP (55), 401k (59.5), and 403b (59.5)
Individually not impressive, but when they stack up = living well.

No IRA?

The stack is what matters.

We can still calculate the amount needed, it’s just the difference between pensions, SS, VA and expenses x the target SWR. Our delta, not including SS will be around $75k annually if we spend like we do now. So the goal is between $1.3-2M invested. The hard part for us is calculating SWR if I died because most of the passive streams either go away or decrease significantly. Of course, I spend more than the wife does, so that helps. My Life insurance doesn’t cover 25x the amount lost, but it comes close to covering the difference between the passive income streams that stop when I die and my personal expenses, but not quite. Currently my life insurance ends at 70.

 

[gianmarco]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

 

[Senor Schmutzig]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

 

[NutterButter]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

Barista FIRE. LOL. Makes sense there's a term for it. Mine would be Costco Worker FIRE. I'm right where you're at.

 

[gianmarco]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I think this is a great use for something like ChatGPT. I even had it give me models based on taking SS at age 62 vs 67 vs 70. I also had it give me a practical plan of how much to take each year from which bucket (taxable vs tax deferred/retirement vs tax-free/Roth).

 

[jamny]

I've been using ChatGPT for stock statistics and comparisons. I put in my age and HSA portfolio and it gives some solid advice. Plus it saves it when you come back so all the info stays in one discussion.

 

[Judge Smails]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I used ChatGPT to do full Monte Carlo simulations, timetable for Roth conversions etc. Seems better than my financial planner honestly

 

[Yo Mama]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I used ChatGPT to do full Monte Carlo simulations, timetable for Roth conversions etc. Seems better than my financial planner honestly

What level of detail are you entering into the prompt?

 

[gianmarco]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I used ChatGPT to do full Monte Carlo simulations, timetable for Roth conversions etc. Seems better than my financial planner honestly

What level of detail are you entering into the prompt?

As little or as much as you want. I've done the same.

And the one I recently did, uploading a statement that has all of our holdings in various buckets (taxable, 403, Roth, SEP, etc) with current balances, and it now has all the information it needs without me having to input anything.

 

[fruity pebbles]

Never even thought about using AI. This is fun. Really is going to put a lot of people out of a job.

 

[-OZ-]

I didn’t even know you could upload into ChatGPT

I just looked, see where I can upload a file. If I just put my holdings into a excel sheet and upload, what else do I need to do?

 

[Sand]

Never even thought about using AI. This is fun. Really is going to put a lot of people out of a job.

Given that the last time I used AI it said I had a 115 mile drive between Tampa and Birmingham I'd be a little leery of trusting these outputs. Just remember it's a big interpolation machine. There is no computation going on.

Investing a bit of funds into Boldin or Projection Lab is a good investment. If you want to try free with something that has reel teeth use TPAW planner - https://tpawplanner.com/

 

[Yo Mama]

I didn’t even know you could upload into ChatGPT

I just assume it already knows everything about me.

 

[Sand]

I didn’t even know you could upload into ChatGPT

I just assume it already knows everything about me.

It does. And damn.

 

[brun]

I understand that chatgpt uses data from 2021 and before. If true, I probably wouldn't rely on it for specific portfolio recommendations.

 

[themeanmachine]

I understand that chatgpt uses data from 2021 and before. If true, I probably wouldn't rely on it for specific portfolio recommendations.

That used to be true but is no longer the case.

 

[Beef Ravioli Part 2]

I understand that chatgpt uses data from 2021 and before. If true, I probably wouldn't rely on it for specific portfolio recommendations.

Can you just tell Chat to only include the most recent data or the years you want it to include?

 

[The Z Machine]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I used ChatGPT to do full Monte Carlo simulations, timetable for Roth conversions etc. Seems better than my financial planner honestly

YASSS! this is where AI should be used.

 

[brun]

I understand that chatgpt uses data from 2021 and before. If true, I probably wouldn't rely on it for specific portfolio recommendations.

Can you just tell Chat to only include the most recent data or the years you want it to include?

Don't use it myself but seems like a good idea to specify what years to include in the query.

 

[Desert_Power]

Never even thought about using AI. This is fun. Really is going to put a lot of people out of a job.

Given that the last time I used AI it said I had a 115 mile drive between Tampa and Birmingham I'd be a little leery of trusting these outputs. Just remember it's a big interpolation machine. There is no computation going on.

Investing a bit of funds into Boldin or Projection Lab is a good investment. If you want to try free with something that has reel teeth use TPAW planner - https://tpawplanner.com/

Yeah. Math and tax advice really seem like something I'd want real thought and checking behind.

 

[ConstruxBoy]

Never even thought about using AI. This is fun. Really is going to put a lot of people out of a job.

Given that the last time I used AI it said I had a 115 mile drive between Tampa and Birmingham I'd be a little leery of trusting these outputs. Just remember it's a big interpolation machine. There is no computation going on.

Investing a bit of funds into Boldin or Projection Lab is a good investment. If you want to try free with something that has reel teeth use TPAW planner - https://tpawplanner.com/

I like FireCalc as well

 

[Alex P Keaton]

Btw, assuming it's not just hot garbage, I've been using ChatGPT for this stuff lately to analyze and give feedback on how to look at things, start to plan, etc.

Most every major investment site (TIAA, Schwab, Vanguard, etc.) has 3rd party aggregation where you can basically have all your accounts linked to get a full picture. You can then just save that as a PDF from your site of choice and upload it to ChatGPT. You can then ask it to analyze and give thoughts on FIRE or allocation or whatever.

I just uploaded our snapshot and asked it to analyze how we're looking for FIRE in next few years, how each year would look like with withdrawals, etc.

Just something to consider trying out.

Wow. For some reason I didn't even think of using ChatGPT for this. I'm old....

Based on the initial feedback, I'm already at traditional and/or Coast FIRE levels, possibly Barista FIRE and <5 years from Fat FIRE.

Let's gooooo!!!!

I used ChatGPT to do full Monte Carlo simulations, timetable for Roth conversions etc. Seems better than my financial planner honestly

What level of detail are you entering into the prompt?

As little or as much as you want. I've done the same.

And the one I recently did, uploading a statement that has all of our holdings in various buckets (taxable, 403, Roth, SEP, etc) with current balances, and it now has all the information it needs without me having to input anything.

I did very similar and then also asked ChatGPT to model out three life scenarios:

1) married for all of retirement
2) single / divorced starting in 3-5 years
3) mysterious death of spouse

ChatGPT was surprisingly helpful and even offered further suggestions on each of the 3 scenarios

 

[Sand]

This too shall pass.