 |
08-24-2011, 09:57 AM
|
#1
|
|
Confused about dryer sheets
Join Date: Aug 2011
Location: Chicagoland
Posts: 1
|
Howdy from Chicagoland
I'm baraff, 57, and hope to retire in 2013 at the latest. My wife is 55 and would probably retire at the same time.
I did a career change about 10 years ago that financially hasn't worked out quite the way I'd hoped, although I have good benefits and a pension. The problem with the pension is that to reap full benefit I'd need to work another 10 years, which I don't want to do. If I retire in 2013, the monthly benefit should cover our health insurance until Medicare kicks in.
We have no debt, our home is ours free and clear and we have sufficient assets. Our problem is income and how to make that happen after retirement. We have no children.
Many have advised us to consult a financial planner, but around here it is very expensive and I would like to try to figure this out by myself before handing it off to someone else.
Our plan is to relocate to a less congested locale, preferably with a lower cost of living. We intend to travel during the winter months (RV) and leave the summer travel for the families.
I am looking forward to gaining some insight on making the plunge and how to mange income afterwards.
|
|
|
 |
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!
|
|
08-24-2011, 10:01 AM
|
#2
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,958
|
There are a lot of very smart people on this site that can help you. For starters, though, you'll need to give some breakdown of your projected income and expenses at retirement.
|
|
|
|
|
08-24-2011, 10:47 AM
|
#3
|
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,697
|
Hi Baraff, welcome to the forum. Lots of insights here on all those topics. Search the archives and ask some questions.
__________________
In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
― Rudiger Dornbusch
|
|
|
|
08-24-2011, 12:06 PM
|
#4
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,287
|
Welcome aboard, I see you're literally from the same location as I am.
Figuring it out for yourself is best. Start with FIRECalc: A different kind of retirement calculator, and if you want to really understand more, this is still the best list if books on investing/personal finance that I know of Investment Books. IMO you do want to fully understand, otherwise your choices are gambling or an unnecessarily expensive broker/financial advisor.
Best of luck, this site has been a wonderful resource to me, and many others...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
|
|
|
|
|
08-24-2011, 04:55 PM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
|
Welcome, baraff.
__________________
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.
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
