WineLover01
Confused about dryer sheets
Hello - am brand new to this forum and am very impressed with the information and knowledge here. I am semi-retired - (age 52) as a part-time marketing consultant, and my husband (age 50) works full time in the defense electronics industry. He has been at his current company almost 10 years and wants to retire as soon as possible (so he can concentrate on riding his Harley and bothering me all day!!) but since he will get a small pension ($7,500 per year) if he holds off until Jan 2011 that is a no-brainer.
We have about $2.85 million in financial assets but $1.6 million of that is in IRAs and his 401k, so the earliest we can tap any of that is when I turn 59 1/2 - unless I do 72(t) withdrawals - (my own retirement assets are approx. $740,000.) We also own our home outright and separate from the figures above is the money we have saved in a 529 for our only daughter's college education -- for all four years (she is a freshman - still getting used to that!)
Expenses are about $84K per year but that includes $12K in contributions to personal savings; income is $220K, total tax rate is 35% per year (fed and CA state.)
Husband will also probably inherit approx. $1 million within the next 10 years from his 89 year old mother.
So, we are primarily concerned with the whole healthcare issue - he has a good plan with his company which we are happy with - if we have to go on the individual market, I can buy it, make him an employee of mine and deduct the cost for us both and pay separately for our daughter, but our main worry is the uncertainty of healthcare reform and what it might mean for us. We are worried about going into a gov. system and it is all so uncertain right now. We are both pretty healthy, but I have high blood pressure and he has high cholesterol - sigh.
Any suggestions or insight would be greatly appreciated! Are we being too cautious or should be go for it next year? Or maybe not yet? If I need to provide additional information let me know.
We have about $2.85 million in financial assets but $1.6 million of that is in IRAs and his 401k, so the earliest we can tap any of that is when I turn 59 1/2 - unless I do 72(t) withdrawals - (my own retirement assets are approx. $740,000.) We also own our home outright and separate from the figures above is the money we have saved in a 529 for our only daughter's college education -- for all four years (she is a freshman - still getting used to that!)
Expenses are about $84K per year but that includes $12K in contributions to personal savings; income is $220K, total tax rate is 35% per year (fed and CA state.)
Husband will also probably inherit approx. $1 million within the next 10 years from his 89 year old mother.
So, we are primarily concerned with the whole healthcare issue - he has a good plan with his company which we are happy with - if we have to go on the individual market, I can buy it, make him an employee of mine and deduct the cost for us both and pay separately for our daughter, but our main worry is the uncertainty of healthcare reform and what it might mean for us. We are worried about going into a gov. system and it is all so uncertain right now. We are both pretty healthy, but I have high blood pressure and he has high cholesterol - sigh.
Any suggestions or insight would be greatly appreciated! Are we being too cautious or should be go for it next year? Or maybe not yet? If I need to provide additional information let me know.