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Old 01-15-2014, 08:50 PM   #21
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Retiring at the beach well before normal retirement age is doable, especially with high incomes and pensions. The trick is to not spend like many of your co-workers probably do. Their expenses might match or even exceed what they bring in.

Instead try to save one income and live off the other if you can, or whatever you can manage. The more you save the sooner your ER at the beach life will become a reality.

We were always pretty good savers but if I had life to do over I would have saved even more than we did. We've cut our expenses now on a lot of overpriced good and services we haven't really needed or missed.
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Old 01-15-2014, 08:54 PM   #22
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I'll be sure to check it out. We are going back this summer/fall for our 10 year anniversary. My favorite thing may be the wild donkees. We were staying near Ajax Peak on the eastern half of the island. We kept seeing them on the roads and we were hoping to see them around the house. Finally on our last night there we were celebrating my bday at crabby's and when we got home there were 3 donkeys in my drive way. Needless to say we spent the next hour feeding them any and all left overs in the fridge. Regarding the hermit crabs, pour a pan of bacon grease on to the ground and see what happens. within mintes hundreds descended uponthe forest.
I bet that is a sight to see, would probably freak my GF out though! So do you stay closer to the Coral Bay side? That is where I hear a lot of the donkeys hang out. We have only been on that side of the island once via cab tour ride as neither one of us want to mess with driving on the "wrong side of the road". They usually aren't around Cruz Bay too much. Last month though 3 of them were walking the street in front of Mongoose Junction acting like they owned the entire road. Pretty hilarious I thought.
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Old 01-15-2014, 09:26 PM   #23
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I bet that is a sight to see, would probably freak my GF out though! So do you stay closer to the Coral Bay side? That is where I hear a lot of the donkeys hang out. We have only been on that side of the island once via cab tour ride as neither one of us want to mess with driving on the "wrong side of the road". They usually aren't around Cruz Bay too much. Last month though 3 of them were walking the street in front of Mongoose Junction acting like they owned the entire road. Pretty hilarious I thought.
There were three at my birthday party too. We kept seeing those 3 on the roads too. Two bigger ones and a smaller on. We were way up on the mountain with a view of Coral bay off in the distance. we were probaby 800 feet above see level, on a small side road call Ajax Peak Rd. Some crazy inclines to get up to the rental. We rented a van for the week with the people we were with.Driving was fun once you got used to the side of the road.
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Old 01-16-2014, 10:55 PM   #24
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Consider taking your SS at 70 and DW taking hers at 62 for longevity insurance and higher survivor benefit. There are many other good SS strategies for married couples to consider as well. The 70/62 one is good if you make around the same amount of SS at FRA.

Consider the Illinois Bright Start 529 savings plan if you are in IL. It can save you a lot in state taxes over time.

I thought the date to start pulling out of a 401k without penalty was 59.5. I think you can only pull out at 55 if that is the year you leave employment.
Couple of different posts on 401k distribution. It depends on the SPD(summary plan description). Mine is set up so at age 55 (or older) and terminated from service, allows non - penalty withdrawls. I retired this year at 56, took my first penalty free distribution this December. I've known other folks, with the same SPD, quit at 50 and start taking penalty free distributions at 55. Other SPDs don't allow for that, or require limited distributions.

I can't advise if you should do the distribution, only that it may be possible. Of course your SPD has to allow at the time you hit 55, the SPD can change.

MRG
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