Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Can I Retire Yet?
Old 08-06-2008, 06:48 PM   #1
Confused about dryer sheets
Join Date: Aug 2008
Posts: 1
Can I Retire Yet?

Hi.....I'm new to this forum, and would appreciate all the advice I can get!

I'm 57, have $1.7M in net investment assets, 40% equities, 9% Gold, and the rest in CD's/MM/ Bond funds. My wife is 53, and works PT. 2 kids have graduated college, one more in school for 2 more years, but the schooling is already paid off. I'll also get a pension of about $31K/year, indexed to inflation.
We will need approx. $90K/year, including taxes, to cover our current lifestyle. SS will kick in at about $30K/year as well for my wife and I combined, but that's at least 10 years down the road.

I guess I might be overly conservative, or maybe I just believe we're on the brink of a really bad investment stretch (that would be my luck), but I somehow think this isn't enough! An investment advisor recently suggested that I keep working for at least another year or 2, but it seems unlikely that I'll be able to do that.

Any insights would be MUCH appreciated!

Audio562 is offline   Reply With Quote
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 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!

Old 08-06-2008, 07:38 PM   #2
Full time employment: Posting here.
Join Date: Jun 2006
Posts: 926
Yes, you can retire now. Your asset allocation probably needs some tweaking but you do have enough to retire and generate the income you need. There are people on the forum who can point you in the direction they think is right though none of us can say for certain what AA is best. Run your numbers thru the FIRECALC many times with different asset allocations to see what would work best against the historical data there. You did not mention health care and that is one big expense that many do not consider when going from being covered by an employee sponsored health insurance plan to ER.

jclarksnakes is offline   Reply With Quote
Old 08-06-2008, 08:18 PM   #3
Recycles dryer sheets
Join Date: Jun 2008
Location: Los Angeles
Posts: 156

I agree with jclarksnakes. You're financially all set to retire.

I ran your scenario on the Schwab retirement calculator as a reality check, assumed you might want to invest conservatively, and have a lifespan of 89 years.

Once your SS kicks in, you could actually spend more than your current projected expense of $90k pretax (adjusted for inflation). If you don't spend more, you'll probably wind up with approx. $400k (in addition to other assets), or have $400k to live on, if you live to see your 90th birthday.

Good for you. Congratulations.
CaseInPoint is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Will i be able to retire at 80% at 56? silvia FIRE and Money 7 04-19-2008 07:07 AM
Retire later, retire happier JustCurious Life after FIRE 20 09-17-2007 07:56 AM
Retire or Not retire troyray55 Hi, I am... 11 06-16-2007 10:38 AM
Retire or Not Retire - Everyone has a choice! huutrinon Hi, I am... 1 05-04-2007 03:34 PM
September 19, a good day to retire, if I were to retire, but I am not Martha Other topics 26 09-20-2006 10:59 AM


All times are GMT -6. The time now is 08:02 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.