The Money Mustache Community
Learning, Sharing, and Teaching => Case Studies => Topic started by: Geoduck on June 27, 2017, 10:17:45 AM
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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??
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You're in a good position, congratulations! Go when you want. enjoy!
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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?
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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/
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Interesting - thanks - haven't seen before
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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. ;)