A family father's path through life

Where are you and where are you going?
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Family father
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Joined: Wed Nov 02, 2016 10:59 am

Re: A family father's path through life

Post by Family father » Tue Feb 13, 2018 4:08 pm

Of course I'm not going Talmudic on that!!

I accepted and thanked the pants: it's the conversation about the criteria what will continue! :D

Jason
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Joined: Mon Jan 30, 2017 8:37 am

Re: A family father's path through life

Post by Jason » Tue Feb 13, 2018 4:17 pm

Oh, gotcha. Although staking an argument about who wears the pants on what pants you will be wearing has to be appreciated for the sheer irony.

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Family father
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Re: A family father's path through life

Post by Family father » Tue Feb 13, 2018 4:19 pm

Sure :D

PS: you seem to have very fine taste about music ;)

Jason
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Joined: Mon Jan 30, 2017 8:37 am

Re: A family father's path through life

Post by Jason » Tue Feb 13, 2018 5:12 pm

For a person like myself who only enjoys the finer things in life, ABBA is essential.

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Family father
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Re: A family father's path through life

Post by Family father » Wed Feb 14, 2018 8:54 am

I've run for the first time a forecast of our SWR.

They are just rough numbers, so no great conclussions may be derived yet, but still the first numbers arised a few facts to think upon:

As I could easily suppose, chances are that I won't be able to retire early.... :oops:

Having (soon) four kids, my younger one will be just out of college by the ordinary retirement age, and since education is the biggest expense (aprox 27% of expenses) and food the second (aprox 15%), and they are expected to increase the following years (+1 kid in school, +1 mouth to feed and children growing :)) ... :?

Surely numbers will improve as we keep advancing in the expense reduction path (my engagement with ERE and this forum's philosophy is based more due to the values and how we think/act than to the fact of being FI or able to ER), but after two years tracking I feel comfortable that the decissions we make about the biggest expenses strongly correlate with our values, and thus I don't see them changing unless the statu-quo varies.

Projections show that in best scenarios I (we) could retire in that time frame where to retire early means you must resign to significant retirement benefits :cry: although who knows wich will those benefits be in twenty-some years :?:

Those scenarios show my wife and I dying by the end of our accumulation phase, and this is a fact I must reflext upon (how would this fact change the decissions we have to make in the future years?)

Another interesting outcome of these projections is that in not so good scenarios (nothing terrible, but not lucky ones) the retirement age doesn't change substantially (the NW at the end does change significantly) but we don't fall into bankrupcy (obviously some adjustments would be necessary).

My parents fell into bankrupcy when my siblings and I were kids, and the consequences in the family and us where (/have been) ... undesirable at the least (thinking about all of us).

Bankrupcy has been one of my strongest fears since adulthood, and seeing those scenarios surely helps... (I do realize the key to happiness is on my mind (acceptance's path ;)) and not outside, but still... it won't do any bad).

Of course, those are just excel scenarios based in rough assumptions and don't involve any major changes (wich could happen in a 30 year span), so no critical decissions are to be expected :)

PS:

Excuse me for the writing: it's not easy to squeeze my brains into words in spanish, so imagine in a foreign language :oops:

PPS:

I just read the head of the forum:
Early Retirement Extreme Forums
--- For those on the fast track to financial independence
Okay, I may be on the slow track to FI, but I still feel quite comfortable in this forum, so unless Jacob forbids, I'll keep posting about the slow track :D

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