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54 plan to go at 62
Old 11-12-2010, 07:07 PM   #1
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54 plan to go at 62

Hello all,
Have been reading postings for a while and learning quite a bit, great forum!

Found the reading recommendations very useful, also enjoyed John P. Greaney's site and his reading recommendations

Working LBYM towards being in good nestegg shape by 62, have over the last couple years worked up to saving 50% of gross salary

Current assets 100% in stock index funds and will luckily also have a pension from dear megacorp. I am viewing the pension as the bond portion of my total portfolio. Hoping to be able to delay SS to 70 for me, wife will take it at her full retirement age.

X501
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Old 11-12-2010, 07:17 PM   #2
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Welcome X501. Sounds like you are on your way.
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Old 11-12-2010, 07:32 PM   #3
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Quote:
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Current assets 100% in stock index funds and will luckily also have a pension from dear megacorp. I am viewing the pension as the bond portion of my total portfolio.
What is the ratio of stock/bonds?

Quote:
Originally Posted by X501 View Post
Hoping to be able to delay SS to 70 for me, wife will take it at her full retirement age.

X501
Why are you hoping for that? If you didn't do that would you be able to retire earlier than 62?
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Old 11-12-2010, 07:54 PM   #4
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If I assume 4% of savings assets to convert to an annual payout, then stocks would be 66% and pension payment (bond substitute) would be 33%.

I am hoping to delay SS to 70 for two reasons, I to get a higher level of COLA'd payout which I view as quite valuable (pension is not COLAd) and to allow at a lower income level and therefore lower taxes, between 62 and 70 conversion of more of the 401K assets to ROTH before required minimum withdrawals are imposed. Of course if we see health issues coming up we will change course.
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Old 11-12-2010, 08:00 PM   #5
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If I assume 4% of savings assets to convert to an annual payout, then stocks would be 66% and pension payment (bond substitute) would be 33%.

I am hoping to delay SS to 70 for two reasons, I to get a higher level of COLA'd payout which I view as quite valuable (pension is not COLAd) and to allow at a lower income level and therefore lower taxes, between 62 and 70 conversion of more of the 401K assets to ROTH before required minimum withdrawals are imposed. Of course if we see health issues coming up we will change course.
Welcome, it looks like you have thought it out and have a good plan.
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