Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
HELLO from 56 y/o hoping to RE in 2011
Old 12-22-2009, 05:34 PM   #1
Confused about dryer sheets
 
Join Date: Oct 2009
Posts: 3
HELLO from 56 y/o hoping to RE in 2011

I work in the tech field and D/H is self employed. My job is always iffy, so I have been planning for some time. Hope to leave at 58 and help hubby for awhile in his business. We both want to apply for SS at 62-DH is 57 now. Most of our assets are in retirement accounts ($1.1) Of that, 41K is Roth and $53K is after tax. D/H will continue working until 62-income should be approx. $36K a year. I will withdraw approx. $28K a year until 62 without penalty from my 401K since I plan to leave it with current employer. Expenses should be about $4000/mo before tax. I worked the numbers at Firecalc and we seem to be ok.
Just wondered what your thoughts are? Also, will pay off house next year with money set aside for this and not factored in retirement numbers.
The only wild card of course is medical-hope to get a high deductible HSH, since we both have some medical conditions that would raise our premiums.
Thanks all for your feedback. I have really learned a great deal from reading on this forum.
__________________

__________________
EARLYHOPES 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 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!

Old 12-22-2009, 06:53 PM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,824
Hi, EARLYHOPES, and welcome to the Early Retirement Forum.

It does sound like you are in good shape. Health care is such a big unknown right now but I think your approach to that problem is reasonable. By the time your DH retires, we will know more about the final contents of the health care bill.

I paid off my house three years before retirement, and it was wonderful to be able to direct most of that mortgage money into my savings and investment accounts, instead! Money just seemed to pile up (relatively speaking).
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 12-22-2009, 07:41 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,030
Welcome ! Have you been tracking your expenses carefully ? Since with the 36k from DH and 28k you are going to withdraw comes to 64 k. That is a lot more than the 40K you think your expenses will be . 1.1 million will only produce 44k and health care is a real wild card so I'd say try to live on your budget for awhile before you pull the plug .
__________________
Moemg is offline   Reply With Quote
Reply


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
Full line of electric cars on sale in 2011 - Renault Trek Other topics 49 12-22-2009 02:51 PM
2011 COLA a NO-GO? mickeyd FIRE and Money 5 08-29-2009 04:07 PM
29 and hoping to retire by 50.... dorikin_86 Hi, I am... 17 07-29-2008 09:20 PM
Hi! 44 And Hoping To Get Out Soon La Selva Hi, I am... 2 01-02-2008 06:40 PM
Tax Rates now and 2011 Gearhead Jim FIRE and Money 25 12-10-2006 09:07 AM

 

 
All times are GMT -6. The time now is 11:43 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.