I am so glad to run across this forum and learning a lot here.
DS and I are both 49, our plan was to ER at 54 when our youngest child going to college. However lately, I fell pretty fed-up with work and not looking forward to go back to the office each Monday morning. I check our numbers and run them on a finance calculator and I think we are good. I have been hinting to DS regarding ER but she thinks that we should stick with our plan. Here are the details:
Total 401K: 1M @ 60/40 (Her 350K, His 650K)
Cash Accounts: 500K (250K Saving AC, 150K Cash, 100K brokerage ac)
Home Equity: 500K (300K mortgage and home value 800K)
SFH Rentals Equity: 1.2M - Monthly income 4.5K after expenses
Non COLA pension 10K/Yr at age 55
Annual Salary: Her 70K, His 140K
Kids college funds: We've saved enough for their first 4 yrs
Annual expenses 90K;
Plan to pay off home mortgage when retire and use the 2K mortgage monthly payment to pay for medical insurance.
If you think that we are good to ER, any suggestion on how to convince DS.
Or she can stick with the original plan and agree with my plan to ER now - wishful thinking