|
11-12-2010, 06:07 PM
|
#1
|
Dryer sheet wannabe
Join Date: Jul 2008
Location: Hartford
Posts: 21
|
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
__________________
X501
Ben Franklin fan
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
11-12-2010, 06:17 PM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Welcome X501. Sounds like you are on your way.
|
|
|
11-12-2010, 06:32 PM
|
#3
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
|
Quote:
Originally Posted by X501
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
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?
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
|
|
|
11-12-2010, 06:54 PM
|
#4
|
Dryer sheet wannabe
Join Date: Jul 2008
Location: Hartford
Posts: 21
|
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.
__________________
X501
Ben Franklin fan
|
|
|
11-12-2010, 07:00 PM
|
#5
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
|
Quote:
Originally Posted by X501
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.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
|
|
|
Update pulled the plug end of Nov 2019
12-01-2019, 09:29 AM
|
#6
|
Dryer sheet wannabe
Join Date: Jul 2008
Location: Hartford
Posts: 21
|
Update pulled the plug end of Nov 2019
Update. Took a bit longer than I projected but I have pulled the plug with a slight incentive push from Megacorp. Looking back at my original post I have reached the target I was shooting for, having enough assets to maintain the standard of living into retirement.
__________________
X501
Ben Franklin fan
|
|
|
12-01-2019, 09:37 AM
|
#7
|
Thinks s/he gets paid by the post
Join Date: Aug 2017
Location: Champaign
Posts: 4,677
|
Quote:
Originally Posted by X501
Update. Took a bit longer than I projected but I have pulled the plug with a slight incentive push from Megacorp. Looking back at my original post I have reached the target I was shooting for, having enough assets to maintain the standard of living into retirement.
|
Good for you! Congrats. I'm trying to teach my 22 yr. old niece to LBYM and follow a savings plan like yours. Keep up your posts and let us know how you're doing. Success is sweet!
__________________
"Do not go where the path may lead, go instead where there is no path and leave a trail."
Ralph Waldo Emerson
|
|
|
12-01-2019, 10:29 AM
|
#8
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
|
Quote:
Originally Posted by X501
Update. Took a bit longer than I projected but I have pulled the plug with a slight incentive push from Megacorp. Looking back at my original post I have reached the target I was shooting for, having enough assets to maintain the standard of living into retirement.
|
Congrats. 9 year update impressive..
__________________
TGIM
|
|
|
12-03-2019, 07:46 PM
|
#9
|
Full time employment: Posting here.
Join Date: Jul 2014
Posts: 930
|
Congrats and thank you for the update!
|
|
|
12-04-2019, 06:32 AM
|
#10
|
gone traveling
Join Date: Jan 2019
Location: NW Ohio
Posts: 1,156
|
I am currently 54 looking at 62 also, so this thread interested me. What sort of incentive push did your Megacorp offer ?
I work in the auto manufacturing supplier arena, and it appears that our company is spiraling downward with a few years to go, so also hoping for an early retirement offer.
Congrats on your success, and have a happy retirement.
|
|
|
12-05-2019, 10:27 AM
|
#11
|
Dryer sheet wannabe
Join Date: Jul 2008
Location: Hartford
Posts: 21
|
Quote:
Originally Posted by ckelly78z
I am currently 54 looking at 62 also, so this thread interested me. What sort of incentive push did your Megacorp offer ?
I work in the auto manufacturing supplier arena, and it appears that our company is spiraling downward with a few years to go, so also hoping for an early retirement offer.
Congrats on your success, and have a happy retirement.
|
It was a package with the biggest element being a payment based on years of service, one week's pay per year of service, that was enough for me to pull the trigger.
__________________
X501
Ben Franklin fan
|
|
|
12-05-2019, 12:03 PM
|
#12
|
gone traveling
Join Date: Jan 2019
Location: NW Ohio
Posts: 1,156
|
Quote:
Originally Posted by X501
It was a package with the biggest element being a payment based on years of service, one week's pay per year of service, that was enough for me to pull the trigger.
|
Yea, at 25 years service for me, that would be half a year's pay....not bad, and it becomes the decision maker.
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|