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Old 01-12-2013, 08:13 PM   #41
Recycles dryer sheets
 
Join Date: Apr 2012
Location: Seattle
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Originally Posted by heeyy_joe View Post
Good job and kudos to you! Sell the house, downsize a bit, retire.

You'll do fine!
Thanks! Downsizing the home seems to be a popular option...I can't go much smaller but could go "cheaper". Cheers.
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Old 01-12-2013, 08:16 PM   #42
Recycles dryer sheets
 
Join Date: Apr 2012
Location: Seattle
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Originally Posted by jphripjah View Post
Maybe you should try some trips to Latin America if you don't want to move to Southeast Asia. Inexpensive living, beautiful women, closer to the U.S. I actually like Thailand and Cambodia myself and would plan to spend a lot of time there once I retire, but I'll likely still keep a place in the U.S.
Good points on central america. I hear good things about Panama and hope to get there in the next year. Like you say much closer and not the $1,000 airfare like to SE Asia.

Cambodia is also on this list...not sure how it compares to Thailand but it's close. I heard the ladies are also very nice and pretty there. Cheers.
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re-visited FIRECalc
Old 01-14-2013, 10:48 PM   #43
Recycles dryer sheets
 
Join Date: Apr 2012
Location: Seattle
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re-visited FIRECalc

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Originally Posted by azphx1972 View Post
Welcome. Have you played with FIRECalc? I think you're cutting it really close, too close for comfort if it were me. We have similar balance sheets, except I don't have a pension, and I wouldn't dream of RE with your projected numbers even if I did have one. Is your pension COLA? That might make a little difference in your favor. I'd look into cutting expenses and stockpiling more into savings, and figure out a way to get rid of that mortgage payment before calling it quits.
Hi, I went in the went through FIRECalc again with what I believe is a realistic scenario of what my situation is. One major adjustment I made from the default is doing a 50/50 mix between equities and bonds (vs. 75% equities).


I also adjusted my require income to $60K a year which is a bit of a compromise. FIRECalc said 93% chance of success with that. I adjusted my retirement year to 2016 since I will be 55 in October of 2015 it makes sense to work the remainder of the year (given we get the Holidays paid for).

I need to play around a bit more with the different inputs. 93% almost seems too good to be true given my fairly low savings projection ($750K).

Once I added in the pension at $36K a year the world got better in a hurry. Once I "unchecked" COLA or adjusted for inflation it brought it back to reality.

Thanks again for all the help on this forum. It's been very valuable. I need to try some of the other calculators listed in this site. I've only done one other
one which was the Monte Carlo method. Cheers.
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