Hello everyone. So here's my script to the plan:
- 52, married, stay at home wife, two adult kids living their own dream
- Primary residence, current market value $395K; no mortgage
- Rental property, current market value $170K; no mortgage
- No auto payments (2013 Jeep wrangler and 2002 Dodge Dakota)
- Money Market/savings, $120K
- Traditional IRA, $150k
- Monthly income (pension [cola]+rent)= $6,100
- Monthly Expenses = $3,220
- Retired Military Medical
- Term life on both wife and I $150K
- Deferred FERS @ 62 ~$650 per month
- SS for both wife and I (not sure the amount)
I'm currently working civil service under FERS but plan to resign and take a deferred retirement.. I "feel" I can pull this ER thing off.
Based on what you know, am I there?
Thank you
Doug
- 52, married, stay at home wife, two adult kids living their own dream
- Primary residence, current market value $395K; no mortgage
- Rental property, current market value $170K; no mortgage
- No auto payments (2013 Jeep wrangler and 2002 Dodge Dakota)
- Money Market/savings, $120K
- Traditional IRA, $150k
- Monthly income (pension [cola]+rent)= $6,100
- Monthly Expenses = $3,220
- Retired Military Medical
- Term life on both wife and I $150K
- Deferred FERS @ 62 ~$650 per month
- SS for both wife and I (not sure the amount)
I'm currently working civil service under FERS but plan to resign and take a deferred retirement.. I "feel" I can pull this ER thing off.
Based on what you know, am I there?
Thank you
Doug