Life Situation: Myself 57, male, wife 58, Married 37 years no kids, (2 elderly horses, elderly cats and dog)
Gross Salary/Wages: 130,000 my salary (same employer for 40 years), wife has (non life threatening chronic) pain issues.
Investments: $850,000: 403b (525,000), Roths (41,000) , Pension (170,000) (if taken lump sum, elig. after Jan. 2016) Cash - $110,000 (cash includes unexpected $70,000 inheritance in 2017), contributing 40k / year into 403b, and 13k into Roths
House: $300,000 (according to Zillow), No mortgage. Property taxes: $3,600 per year, live in very rural new england), purchased new 30 years ago, well maintained.
Cars No payment: Cars 2004 Volvo (will last forever ~100k mi. like new), 2013 volvo ( under 40k mi.) purchased wrecked and had it rebuilt professionally), Maint. can be expensive but have longtime volvo autobody / service shop almost next door). Work commute is 20 mi. one way.
No Debt
Current expenses (approx. 2017 spending. Started detailed tracking to nail down accuracy / future estimates)
Category Annual
Groceries 8,000
Pets (food/Vet) 5,500
Prop. tax 4,000
Auto (insurance/maint) 3,400
Vacation 3,000
Household 2,800
Gas 2,400
Electric 2,400
Heating 2,300
Internet/landline 1,400
Dining 1,500
Gardening est. 1,200
Cycling est. 1,200
I am looking to retire as soon as possible but original long term plan has been potentially March 2020 (@59 1/2) (no health issues), 40 years in IT / software development background. I Have cheap excellent health insurance through employer currently. Incredible $0 deductible health plan after as well (but will be expensive at 12k per year at retirement.). I know ACA is a possibility and looks like subsidy is possible for income < 60k per year.
Specific Question(s):
1. Looking to retire no later than March 2020, but would consider 2018 (or 2019) if I was more confident in my future expenses / tracking. Has anyone else done this with similar age / numbers / lifestyle? Any words of wisdom on before or after? I am open to hearing on places to cut expenses somehow as well.
2. Another big question is what mix of funds would I draw down first (and do I have enough to get to full social security benefits. On the surface my current thinking is to delay social security as long as possible (looks like it would be something like $50k per year for our combined benefits when I reach 67).
3. Winters are long and cold here (especially this year), and would consider part-time work from home in winter (after a long break of a year or two away from work). Light (i.e. part-time) software development / web development a possibility but need to learn more up to date technology. Moving to a warmer climate is out of the question, unless I want to move alone :-) Again has anyone had experience in this area perhaps after learning more up to date technology after being away from it for a few years?
I will also start devouring this forum for more information as well, This is an incredible resource. Thank you all in advance.