I planned retirement using 4 financial milestones. First was the taxable account monies lasting until I turned 59 1/2. That meant I could withdraw from the retirement accounts without a 10% penalty.
Next two were the retirement accounts lasting until I could start taking Social Security or until I could take the maximum benefit. It would take an epic financial meltdown for that not to happen, but I didn’t rule it out.
The fourth was not running out of money to supplement Social Security before taking that long dirt nap. Living solely on SS can be done, but I didn’t want to.
Living beneath my means since finishing grad school meant it never occurred to be anything but conservative in planning for these milestones. It’s 9 months before I reach 59 1/2. My taxable accounts are currently 28% down from their pre-retirement balance, so that milestone is virtually a done deal.
I’ve loosening up spending in the last year after a life of frugality and expect to continue. If I was writing for myself or a close friend the next paragraph or 2 would summarize the accompanying personal changes would be the reason for this post. Others probably would see it as unfathomable, some sort of ridiculous woe is me attitude, or a life situation that in no way could be considered a problem. Or not. So it goes. Happy New Year.