Comments on: Quarterly Net Worth Update: Q4 2022

By: Simpledar

Simpledar — Tue, 31 Jan 2023 15:27:17 +0000

In reply to Court and Nic. Well said. Thank you

By: Mark C

Mark C — Mon, 30 Jan 2023 22:59:38 +0000

Keep up the good work, Court and Nic. My inclination would be to model out and include your “hidden” income sources (SS, CPP, etc.), even if they are pretty far “out there” on the calendar. For a lot of older folks closer to traditional retirement, these sources AND the TIMING of tapping those resources (and the interwoven tax considerations) are a very significant part of their planning. In reality, I don’t they are less significant for younger folks or will become so. For CPP, SS, OAS, private pensions, etc. you can run estimates for the different scenarios to give your more of an holistic view. some are inflation indexed, some are not — and that can have a big bearing on your compounding math. Just my POV.

By: Court and Nic

Court and Nic — Mon, 30 Jan 2023 07:47:47 +0000

In reply to SimpleDar@Simpledar.com. Thanks for sharing SimpleDar! Totally, I’m imagining there will be quite a few added expenses we currently don’t have that we will one day have to take into account. I think that’s the beauty to the flexibility side of things. We know for the next ~5-10 years our expenses will look relatively similar to what they are today. Then the next ~10 years will be higher with more kid related activities, sports, dental work, etc. Then costs will go down quite a bit after they leave the house. Glad to see your spending on things you value and bringing your family happiness!

By: Court and Nic

Court and Nic — Mon, 30 Jan 2023 07:44:28 +0000

In reply to PTsigane. Thank you! I wish there was more transparency among the FIRE community with numbers. I totally understand why some people choose not to share, but also know it’s helpful for readers to see actual numbers and how they shape up.

By: SimpleDar@Simpledar.com

SimpleDar@Simpledar.com — Mon, 30 Jan 2023 02:42:27 +0000

Hello, thank you for all the details. I know you are fatfire so you should have no problem, but in our case, the kids have brought some extra expenses: orthodontic stuff: 20k, my son was diagnosed tdah so specialist with a rate of 100$/week to support , plus I am spending almost 2k/year on sport to manage his temper and I am grateful. Just sometimes these expenses that you don’t factor increase the budget so much

By: PTsigane

PTsigane — Mon, 30 Jan 2023 01:07:35 +0000

Thank for sharing your numbers. Glad to see you’re doing well, even without taking into account all the other “hidden” sources.