As we’ve approached FI ever closer, I’ve tried to engage Mrs. 39 Months in conversations about key aspects of our lives once we hit FI (where will we want to live, what do we want to do, how will we occupy our time, does she want to continue to work, etc.).
For the most part, she has resisted these conversations, and has even questioned my willingness to kick back & retire (She doesn’t think I can do it). Her greatest fear, like so many of us, is running out of money as she gets into her late old-age, and is unable to deal with it easily. She also knows that I have been a typical “type A” personality (take charge, prefer action, can’t sit still) and so believes I will go nuts if I retire.
At her place of work, they (like so many others) play the lottery as a group. As she was there talking with a coworker in the break room, they stated that they had a small winning at some part in their lives (about $600,000). That got Mrs. 39 Months thinking about what she would do if she won something like that in the lottery. When a group plays, you obviously don’t win the whole $100M, you win that divided by all the people in the pool.
When we discussed it while cooking dinner, she wondered what sort of income stream she could get off that. I talked with her about the 4% rule, and this would be about $24K a year/$2K a month. She then asked about how you go about creating that sort of income stream, so I had to go into the “3-bucket” method (2 years of cash, 3-5 years of bonds, rest in stocks) to create a safe method for withdrawing.
Suddenly, we were talking about our lives in the near future, whether we would work in low-stress jobs, etc. Its been some interesting conversations over the last week.
As we close in (just a little more than 23 months to go) I’m sure these conversations will get a little more intense and involved. Looking forward to it.
Along those lines, Minafi has an interesting article for dreaming about your FI lifestyle – writing up your perfect week
How have your discussions gone with your significant other?
Mr. 39 Months