Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Hi Everyone, Hope You Are All Doing Well - Help please - Your opinion?
Old 04-29-2013, 05:09 PM   #1
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
Hi Everyone, Hope You Are All Doing Well - Help please - Your opinion?

I'll be 57 at end of this year and have about $1.3M (Cash or cash equivalent) $260k - 30 yr. USG Bonds in Pension (portable); $250k 401k (most after tax & portable) rest is cash. Calc. SS @ $1850 per month (from SS site) for 28 yrs (start @ 62) = total about $1.9M. No debt, no house (apt.) Bought a new Travel Trailer & adopted an older dog. Assumption: no increase in money; then have about $57k for 33 yrs. (= 90). I am frugal. Can I do it? Afraid to take the plunge...but job is killing me, literally
__________________

__________________
rjohnla 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 04-29-2013, 05:21 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,485
You should be fine unless inflation spikes. Is your high cash/cash equivalent position intentional?

Suggest you check our Quicken Lifetime Planner (a good, basic easy to use retirement planning tool that is part of Quicken Deluxe and higher) and FireCalc but off-the cuff I think you should be ok.

Have you considered just plunking the whole lot into Vanguard Wellesley? It's pretty conservative and IMO a lot better than cash in your circumstances.

What do you mean that 401k is "mostly after-tax"? Usually 401k is pre-tax but perhaps you have an unusual situation.
__________________

__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 04-29-2013, 05:27 PM   #3
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
Believe we are in deflationary environment and USD will be best in depression. Had the option to put money in 401k before or after taxes paid. Put it in after taxes paid (my contribution) would owe on matching and gain. Thanks, for ypu reply & questions.
__________________
rjohnla is offline   Reply With Quote
Old 04-29-2013, 05:34 PM   #4
Full time employment: Posting here.
Jack_Pine's Avatar
 
Join Date: Apr 2013
Posts: 834
What does FireCalc say? I would think it would be near %100.
__________________
The Constitution. It's not just a good idea...it's the law.
Jack_Pine is offline   Reply With Quote
Old 04-29-2013, 05:38 PM   #5
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
Jack - yes, you are right it does. But taking that 'leap of faith'. Thanks.
__________________
rjohnla is offline   Reply With Quote
Old 04-29-2013, 05:39 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,485
Quote:
Originally Posted by rjohnla View Post
Believe we are in deflationary environment and USD will be best in depression. Had the option to put money in 401k before or after taxes paid. Put it in after taxes paid (my contribution) would owe on matching and gain. Thanks, for ypu reply & questions.
You may want to check it out but I seem to recall that one can rollover after-tax 401k monies into a Roth IRA.

I had some after-tax 401k money but didn't know about the rollover possibility at the time so I just took the cash.

Fear is natural - many of us have gone through it - change is hard.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 04-29-2013, 05:56 PM   #7
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
What are your annual expenses ?
Quote:
Originally Posted by rjohnla View Post
I'll be 57 at end of this year and have about $1.3M (Cash or cash equivalent) $260k - 30 yr. USG Bonds in Pension (portable); $250k 401k (most after tax & portable) rest is cash. Calc. SS @ $1850 per month (from SS site) for 28 yrs (start @ 62) = total about $1.9M. No debt, no house (apt.) Bought a new Travel Trailer & adopted an older dog. Assumption: no increase in money; then have about $57k for 33 yrs. (= 90). I am frugal. Can I do it? Afraid to take the plunge...but job is killing me, literally
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 04-29-2013, 07:08 PM   #8
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
Not much and would be less if retired: Just Food, Ins., Utilities for Travel Trailer (set up to go off grid for weeks) gas, entertainment - could probably do it on $30k. Guess I need to move off the intro site and post elsewhere according to sticky...
__________________
rjohnla is offline   Reply With Quote
Old 04-29-2013, 07:31 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,906
Quote:
Originally Posted by rjohnla View Post
.......Bought a new Travel Trailer & adopted an older dog.........
What kind of dog?
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 04-29-2013, 07:39 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,328
Quote:
Originally Posted by rjohnla View Post
Not much and would be less if retired: Just Food, Ins., Utilities for Travel Trailer (set up to go off grid for weeks) gas, entertainment - could probably do it on $30k. Guess I need to move off the intro site and post elsewhere according to sticky...
Sounds great. I see a travel trailer with off grid potential in our future, too.
__________________
daylatedollarshort is online now   Reply With Quote
Old 04-29-2013, 07:53 PM   #11
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
1/2 Lab, 1/2 Shar Pei. Great shape for about 8 yrs. & weighs 80 pounds - dog trainer coming next week, but he's really a great dog. People don't want the old ones so much, he's home forever now.
__________________
rjohnla is offline   Reply With Quote
Old 04-29-2013, 07:54 PM   #12
Recycles dryer sheets
 
Join Date: Apr 2013
Location: ORL
Posts: 156
Check out KZ, great quality - family owned, lot of Amish employees & happy.
__________________
rjohnla is offline   Reply With Quote
Old 04-29-2013, 11:18 PM   #13
Full time employment: Posting here.
 
Join Date: Jun 2006
Posts: 926
Welcome to the forum. Your numbers look good. They would be lots better if instead of being so heavy in cash and bonds you had a balanced asset allocation. Inflation is pretty low recently but it is still eating away at your cash heavy portfolio. If you live for more than 25 more years or inflation goes higher it could be a problem for you.
__________________
CW4, USA-(ret)
RN, BSN-(ret)
jclarksnakes is offline   Reply With Quote
Old 04-30-2013, 06:46 AM   #14
Thinks s/he gets paid by the post
heeyy_joe's Avatar
 
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
Get over your fear and enjoy your older dog and your new travel trailer.
__________________
_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
heeyy_joe is offline   Reply With Quote
Old 04-30-2013, 07:45 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,906
Quote:
Originally Posted by rjohnla View Post
1/2 Lab, 1/2 Shar Pei. Great shape for about 8 yrs. & weighs 80 pounds - dog trainer coming next week, but he's really a great dog. People don't want the old ones so much, he's home forever now.
OK, sounds like you are good to go, then.
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 04-30-2013, 09:57 AM   #16
Dryer sheet wannabe
 
Join Date: Apr 2013
Posts: 14
You have a good amount of assets and you are invested very conservatively. It seems like you are at risk if inflation runs up. I think it would be well worth it for you to get professional advice from a fee based financial planner. You have too much at stake to do it on your own

What do you plan to do about your health care cost? You are 8 year away from Medicare. You may be shocked at what your health care can cost over those 8 years
__________________
daytripper is offline   Reply With Quote
Old 04-30-2013, 12:13 PM   #17
Full time employment: Posting here.
bjorn2bwild's Avatar
 
Join Date: Mar 2013
Location: Western US
Posts: 690
Welcome - Charley and you should be good to go. Especially if your job is killing you.
Your ability to take the low road is a big +. No friction from me on the high cash position, the future is yet to be written. good luck
__________________

__________________
How's it going to end..............
bjorn2bwild 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


 

 
All times are GMT -6. The time now is 11:35 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.