Author Topic: Getting close I think?  (Read 590 times)

Geoduck

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Getting close I think?
« on: June 27, 2017, 10:17:45 AM »
Newer here - been listening and seems are varied oops on when threshold is met

Us:  62 yr olds, spouse dropping to part time in 2018, me in 2019 - enough hours to maintain health coverage for us given current state of D.C.

House paid off - worth $800k, bought for $200k in '95 - yea, Seattle.

No debt.  About $1.4M saved.  Combined earning now is $220k - will drop in half when we jump to part time.  Fully retire at 65.

Some folks have told me just keep working till then -  love my job and coworkers, but want more time soon.  You know the deal

Reasonable plan??

acroy

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Re: Getting close I think?
« Reply #1 on: June 27, 2017, 10:25:04 AM »
You're in a good position, congratulations! Go when you want. enjoy!
SWAMI (Satisfied Working Advanced Mustachian Individual) 1 stash, 1 DW, 7 Mini MM's...
God, Family, Country. Everything else is details.

mxt0133

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Re: Getting close I think?
« Reply #2 on: June 27, 2017, 10:46:51 AM »
How much do you spend a year?  Are you retiring to something or just want to bum around, nothing wrong with it that just curious?

PapaBear

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Re: Getting close I think?
« Reply #3 on: June 27, 2017, 10:49:46 AM »
Reasonable plan??

That mainly depends on your planned annual expenses in retirement compared to what your assets + social security are producing in returns/income.

FIREcalc has a nice calculator you can feed with your data: http://www.firecalc.com/
Portfolio Charts has a few nice calculations of safe withdrawal rates depending on your portfolio allocation (pick the portfolio that best resembles your portfolio and scroll down to withdrawal rates): https://portfoliocharts.com/portfolios/

Geoduck

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Re: Getting close I think?
« Reply #4 on: June 27, 2017, 10:53:01 AM »
Interesting - thanks - haven't seen before

MDM

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Re: Getting close I think?
« Reply #5 on: June 27, 2017, 11:58:47 AM »
Assuming
- no pension
- $30K/yr social security when you choose to take it
- $50K/yr or less total spending
...you will be fine.

Change the assumptions and you may be finer, still fine, or not fine. ;)