wannabefire
Dryer sheet aficionado
I posted a while back and now really struggling to keep my head in the game at work. I've seem too many co-workers and friends plan everything for "tomorrow" and then end up dying younger than expected. Struggling to stay engaged knowing that I probably don't NEED to work much/any longer.
Here's the numbers
$1.5M Tax Deferred 60/40 stocks/bonds
$1.3 Taxable 60/40 stocks/bonds
$2.8 Total Investments for retirement
We are both around 50 years old and are "planning" to 95
No debt. House paid off.
Assuming 25% haircut for SS ($22.5k each at 68)
$90k Spending - with assumption of $25k for COBRA and then switching to ACA or some other Healthcare in the future, Fixed Exp $25k
The other $40k has a discretionary element to it and could be manages. It does includes placeholders for dining, charitable giving, gym memberships etc. Also includes "one-time" or non-recurring items like household repairs, auto repairs, fund for auto replacement and includes $6k annual travel budget.
Firecalc, Personal Capital and Fido all greater than 95%
Firecalc shows $100k spending at 100%
The numbers would say we should be good. My biggest question mark is healthcare to get to Medicare. Also, convincing my DW that we should pull the plug. I don't think it would go well if I stopped working and she kept working.
I've also thought about convincing DW to take a sabbatical. This could do one of a few things after said sabbatical:
1. Ease into full retirement.
2. Re-charge and get a plan to work a few more years (either full time or contract)
2a. There is the risk of becoming stale and not obtaining work again.
3. Find some fulfilling work (likely at significantly less pay but could partially offset our cash burn rate)
4. Last point here is that I am not resolved to never work again...
Thoughts? Advice?
Thanks in advance!!
Here's the numbers
$1.5M Tax Deferred 60/40 stocks/bonds
$1.3 Taxable 60/40 stocks/bonds
$2.8 Total Investments for retirement
We are both around 50 years old and are "planning" to 95
No debt. House paid off.
Assuming 25% haircut for SS ($22.5k each at 68)
$90k Spending - with assumption of $25k for COBRA and then switching to ACA or some other Healthcare in the future, Fixed Exp $25k
The other $40k has a discretionary element to it and could be manages. It does includes placeholders for dining, charitable giving, gym memberships etc. Also includes "one-time" or non-recurring items like household repairs, auto repairs, fund for auto replacement and includes $6k annual travel budget.
Firecalc, Personal Capital and Fido all greater than 95%
Firecalc shows $100k spending at 100%
The numbers would say we should be good. My biggest question mark is healthcare to get to Medicare. Also, convincing my DW that we should pull the plug. I don't think it would go well if I stopped working and she kept working.
I've also thought about convincing DW to take a sabbatical. This could do one of a few things after said sabbatical:
1. Ease into full retirement.
2. Re-charge and get a plan to work a few more years (either full time or contract)
2a. There is the risk of becoming stale and not obtaining work again.
3. Find some fulfilling work (likely at significantly less pay but could partially offset our cash burn rate)
4. Last point here is that I am not resolved to never work again...
Thoughts? Advice?
Thanks in advance!!