54 and ready for more....Scrabble

[longrun]

DW and I are 54 and are ready to retire in the Georgia foothills and play Scrabble and drink better wine.
Can we pack the car in 2016?

We have a grateful lifestyle that has cost us $80k (including taxes)/7yr avg and just want to enjoy a nicer pace after our self-employed professional careers.
Our kids are done w/ college and figuring life out every day.

Hopefully these assets will help supply the wine...same Scrabble board since college.

After tax 1.4M (65% equities,25%bond,10%cash)
401k- 1.8M (1.2M traditional 401k (65%equities,35%bond) and 600k Roth
401k (65%equities ,35% bond)
SS at 70- 65k/yr
Georgia house paid off.
ACA health insurance coverage

We are moving from IL so our property taxes will be less and snowplowing fees less (yahoo!)
DW wants to continue her Scrabble dominance in Georgia (with me...yes!), can we do it?
Thanks for sharing any thoughts

 

[REWahoo]

... can we do it?

I'll respond to your question by suggesting you start here:

http://www.early-retirement.org/for...-answer-before-asking-can-i-retire-69999.html

Then you can tell is about packing the car - or not.

 

[longrun]

We have memorized those questions and are content with our answers.
Life will go on, we just hope to enjoy our ride!

 

[REWahoo]

We have memorized those questions and are content with our answers.

Is the car packed yet?

 

[scrabbler1]

As you can see from my screen name, I like your hobby. Too bad this fellow early retiree doesn't live anywhere near Georgia (I live in New York) or else I'd challenge both of you to some games!

 

[rodi]

With your numbers I'd have the car packed already.

Welcome to the forum.

 

[InTheSticks]

As you can see from my screen name, I like your hobby. Too bad this fellow early retiree doesn't live anywhere near Georgia (I live in New York) or else I'd challenge both of you to some games!

Look up on-line multi player Scrabble game.

 

[DustyL]

I think you are in great shape. I am positioned somewhat similar to you. Also 54 (my DW is 53), so similar ages, and have slightly more saved: $3.45M in taxable and non-taxable (vs. your $3.2M). However, the differences are why I am still working but would quit if I were you: (1) $100K left on my mortgage (with about $850K in equity); (2) one high school senior (the other is out and working) and about $100K saved for college (but that is included in the $3.45M); and (3) the big difference, my annual estimated expenses in retirement right now are about $130K unless we move to a cheaper area.

With your $80K in expenses, $3.2M in savings and approximately $70K coming in SS (we will have somewhat less), I agree with Rodi -- I would have the car packed, if not already on highway.

Congrats and good luck.

 

[kitesurfer2]

do you play WORDS WITH FRIENDS?

 

[HawkeyeNFO]

do you play WORDS WITH FRIENDS?

Insert thread drift! I'm surprised how that game just doesn't seem to get boring after a few years.