Later Retirement Extreme -Earned Income Resilience/Shelter Expense

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classical_Liberal
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Re: Later Retirement Extreme -Earned Income Resilience/Shelter Expense

Post by classical_Liberal »

,,,
Last edited by classical_Liberal on Thu Feb 04, 2021 11:22 pm, edited 1 time in total.

7Wannabe5
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Joined: Fri Oct 18, 2013 9:03 am

Re: Later Retirement Extreme -Earned Income Resilience/Shelter Expense

Post by 7Wannabe5 »

classical_Liberal wrote:Yeah, that's the thing... So often these things tend to be serendipitous in nature. It's virtually impossible to rationally predict whether next month holds a sale on chicken or an IPO. The more you have, the more options de jour. Obviously there has to be a limit of the marginal utility for personal purposes. What that is? I have no clue.
Well, for the purposes of power or "counting coup", there is no limit. You can never be too rich or too thin (sigh.) But, for instance, you don't hear people saying stuff like "I have 5 wives-each more beautiful than the last, 12 sons-all fine warriors, 300 sheep, 10 camels, 5 of the finest Tabriz carpets, and 2 ingots of gold." so much these-a-days. If the opportunity presents itself that you could pick up a 6th wife, but her father is only willing to trade for 12 camels and the lend of 20 warriors for a little upcoming skirmish he is planning, you are bumming.

The local bus service I have been utilizing gives change in the form of a ticket credit. So, I have to remember to use tickets first, cash second whenever I ride. If for some reason I have to leave the area without much notice, I may be left with a useless ticket or two in my change purse. My 77 year old friend with net worth over 70 million is going to be left with quite a few useless tickets in his change purse, can't even transfer to his heirs without tax penalty, but he still goes to work, running his own business, 5 days/week.

A red squirrel may collect and store as many as 15,000 seed cones in one season. A tiger may consume as much as 88 lbs. of prey in one meal and will have to hunt around 50 times/year. If I happen upon chicken on sale for .29/lb very close to lowest price ever previously noted), my limiting factor would be either volume of freezer space available for long-storage at current residence, predicted length of stay at current residence, or total amount I would prefer to eat or cook to share within 6 months. So, the most cash I would ever benefit from having on hand in order to stock up on chicken would be some amount less than $20. Similarly, sometimes when I consider the marginal utility of losing another 20 lbs. from my person, I realize that I will simply be forgoing breast men in favor of leg men, so it is pretty much a wash. IOW, maybe there is such as thing as "thin enough for MY purposes" or "rich enough for MY purposes."

So, if one of my purposes (or favorite fun puzzles) is to figure out how to scavenge, create or re-configure (NOT do without!! I do not like that option!!) my needs and wants in a manner that allows me to bypass money, then obviously there is no ideal amount of money that is too little for my purposes. OTOH, I grudgingly recognize that there is some amount of the Emperor's script that I must feed into the machine in order to be recognized as an adult citizen, so my ideal amount of savings might be the total amount of script I must proffer over the expected remainder of my lifetime. Otherwise, I should be constantly striving to increase all my other forms of reserved resources, favoring internal (health, skills) over external.

classical_Liberal
Posts: 2283
Joined: Sun Mar 20, 2016 6:05 am

Re: Later Retirement Extreme -Earned Income Resilience/Shelter Expense

Post by classical_Liberal »

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Last edited by classical_Liberal on Thu Feb 04, 2021 11:21 pm, edited 1 time in total.

7Wannabe5
Posts: 9378
Joined: Fri Oct 18, 2013 9:03 am

Re: Later Retirement Extreme -Earned Income Resilience/Shelter Expense

Post by 7Wannabe5 »

@classical_Liberal:

I grok where you, and everybody else on this forum, who is approaching ERE from an FI first sort of perspective is coming from. I am just trying to be less defensive and more curious about my own perspective or path or book of maps. I don't know exactly what I am going to build with the set of tools and resources I have at my current disposal at this juncture, but it seems like it would be some combination of unlikely or forced if it were to look very much like what a 22 year old INTJ man fresh out of college with a STEM degree would likely choose to build.

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