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HELLO from 56 y/o hoping to RE in 2011
Old 12-22-2009, 04:34 PM   #1
Confused about dryer sheets
Join Date: Oct 2009
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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.

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Old 12-22-2009, 05:53 PM   #2
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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).

"You can never cross the ocean until you have the courage to lose sight of the shore." - - - C. Columbus
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Old 12-22-2009, 06:41 PM   #3
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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 .
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