The Best laid plans

A nod to Robert Burns.  

"To A Mouse," was written in 1785 by Scotland's national poet, Robert Burns. 

He wrote it like he would have said it, in local Scottish dialect.

The poem describes the accidental destruction of a mouses nest, and sorrow for the mouses situation.  The mouse faces hardship, through no fault of her own.  Her nest is no more.  Her work was for nothing. 


Mouse picture above borrowed from a blog story by Brenda Walker  https://naspc.scot/2024/01/25/the-best-laid-schemes-of-mice-and-men-robert-burns/ 


To A Mouse   by Robert Burns,  1785


On Turning her up in her Nest, with the Plough, November 1785.

Wee, sleeket, cowran, tim’rous beastie,
O, what a panic’s in thy breastie!
Thou need na start awa sae hasty,
          Wi’ bickerin brattle!
I wad be laith to rin an’ chase thee
          Wi’ murd’ring pattle!

I’m truly sorry Man’s dominion
Has broken Nature’s social union,
An’ justifies that ill opinion,
          Which makes thee startle,
At me, thy poor, earth-born companion,
          An’ fellow-mortal!

I doubt na, whyles, but thou may thieve;
What then? poor beastie, thou maun live!
A daimen-icker in a thrave
          ’S a sma’ request:
I’ll get a blessin wi’ the lave,
          An’ never miss ’t!

Thy wee-bit housie, too, in ruin!
It’s silly wa’s the win’s are strewin!
An’ naething, now, to big a new ane,
          O’ foggage green!
An’ bleak December’s winds ensuin,
          Baith snell an’ keen!

Thou saw the fields laid bare an’ waste,
An’ weary Winter comin fast,
An’ cozie here, beneath the blast,
          Thou thought to dwell,
Till crash! the cruel coulter past
          Out thro’ thy cell.

That wee-bit heap o’ leaves an’ stibble
Has cost thee monie a weary nibble!
Now thou’s turn’d out, for a’ thy trouble,
          But house or hald,
To thole the Winter’s sleety dribble,
          An’ cranreuch cauld!

But Mousie, thou art no thy-lane,
In proving foresight may be vain:
The best laid schemes o’ Mice an’ Men
          Gang aft agley,
An’ lea’e us nought but grief an’ pain,
          For promis’d joy!

Still, thou art blest, compar’d wi’ me!
The present only toucheth thee:
But Och! I backward cast my e’e,
          On prospects drear!
An’ forward tho’ I canna see,
          I guess an’ fear!


Stewart Everett offers us a modern translation, and a summary explanation of the poem. Link:  https://sjmeverett.medium.com/a-modern-translation-of-burns-to-a-mouse-db7ff99df6ac  Reading Stewart's version and notes helps the poem make more sense. 

 

I'll soon be sixty years old.  As I plot and plan retirement, a phrase from the seventh paragraph comes to mind.  "The best laid schemes o' Mice an Men..."

Stewart's translation is, "The best laid plans of mice and men."  That means to me, no matter how much we know, and plan, things change.  It may turn out to all be for nothing.  Someone, or something, can destroy our "nest."  

Was the mouse wrong to stow away food and build shelter? Of course not.  It was doing what mice do. 

What about us.  Are we wasting precious time and resources getting ready for retirement? Maybe.  Like the mouse, we can't predict the future.  Also like the mouse, to not prepare would be foolish.    


Things I hope for, and think I know... 

1.  Retirement age...65.  63 or 67 a possibility 

2.  My health will continue to be good.

3.  My wife, Terri, will also enjoy the two items above. 

4.  I might work part time after I retire. 

Things I know...

1.  Taxes and insurance will increase.   

2.  Inflation will eat into savings.   

3.  We won't live forever.  One of us will survive the other, and have to navigate this alone. 

4.  The surviving spouse will most likely not be me.   

That said, here is my best plan so far  ( BPSF )  ...

1.  Build retirement funds to 20x annual income by age 65.  We are at 13x now, with 5+ years to go.  

2.  Social Security draw to be less than 50% of total income. (my rule of thumb) 

3.  The sweet spot for #2 is 18x annual earnings.  To get to 18x by age 63, we need annual growth of 12%. (possible)  the five year average is currently 13%.  For age 65, to get to 18x, we need 5.6% growth a year. (likely) 

4.  As soon as the balance is = or > than 16x annual income, start drawing from the 401K.  With that 2 or 3%, Pay off debt, and build up cash.     

5.  To get to number 4, above by age 62, we need 8% growth per year.  (likely!) 

6.  Cash in savings, from #4.  Build up to 1x annual income.  To be used as a buffer in case of market dips. (likely!)  Then take some trips, and catch up on things we have been putting off.  

7.  At 65, and 20x annual income, we will have 133% of current income. SS, + pensions, + 3% draw on 401k. 

8.  If 401k stays at the current level, no growth for 5.25 years (unlikely) we will still have available 110% of current income. SS+pensions+3% draw on 401k. in that case, work another year or two and wait to draw SS at an increased rate. 

9.  At 67, 7.25 yrs from now, with current 401k balance (unlikely) 121% of current income.  SS + pensions + 3% draw on 401k. 

If numerical and financial nerding out is something you enjoy, send me an email.  I'll send you my blank spreadsheet and you can plug in your numbers and your variables. 

If you made it this far in the story, but have no idea where to start, or what to do about your own retirement, here is a link.  This will take you to ramseysolutions.com.  You will see a list of baby steps. I started listening to Dave Ramsey in 1987.  The next year, My wife and I agreed we should try to follow his plan.  We continue to read, learn, and educate ourselves.  Dave's baby steps will get  you started, and you can learn more asap as you go.  

Whether you are my age, almost sixty, or 18.  today is the right time to get started! 

 https://www.ramseysolutions.com/dave-ramsey-7-baby-steps?srsltid=AfmBOorf1lGt5whYytFctuoF3Mcpe2hWckWlndLaM2VoMcsH2IovDKBI   

There are wonderful resources and information beyond the Baby Steps on Dave's website.  The main thing is to get started now.    


But, Robert Burns would caution us...

But little mouse you are not alone,

In proving foresight may be vain:

The best laid plans of mice and men

Go oft awry,

And leave us only greif and pain,

For promised joy!