Hi Everyone,
First I wanted to thank you for such a website where I ask any retirement related questions. I am 53 year old and I am thinking of an early retirement at 55. It's only 2 more years away. Here's my financial situation. I have est. 500K in both 401K and MRP (Master Retirement Plan) at work. I have 200K in stocks, CD and money market account. My company is giving a year of salary for servant pay since I've been with them for 15 years. so at least I wont need to worry about $ when I turning 56. From 57 to 59 1/2 this is where I need to come up with some type of income because I can't touch my 401K until 59 1/2. Also I only can withdraw my MRP at age of 62. The same for social security early retirement at age 62. Worst case scenario I can borrow the money from 401K and MRP accounts but I dont want too. Where I want to retire the cost of living is very affordable than USA. Maybe I can find something to do part time while waiting for some $ from 401K, MRP and SSI. Any tips or advice will be greatly appreciated.
vndreamer
First I wanted to thank you for such a website where I ask any retirement related questions. I am 53 year old and I am thinking of an early retirement at 55. It's only 2 more years away. Here's my financial situation. I have est. 500K in both 401K and MRP (Master Retirement Plan) at work. I have 200K in stocks, CD and money market account. My company is giving a year of salary for servant pay since I've been with them for 15 years. so at least I wont need to worry about $ when I turning 56. From 57 to 59 1/2 this is where I need to come up with some type of income because I can't touch my 401K until 59 1/2. Also I only can withdraw my MRP at age of 62. The same for social security early retirement at age 62. Worst case scenario I can borrow the money from 401K and MRP accounts but I dont want too. Where I want to retire the cost of living is very affordable than USA. Maybe I can find something to do part time while waiting for some $ from 401K, MRP and SSI. Any tips or advice will be greatly appreciated.
vndreamer