birdie
Dryer sheet wannabe
Have admired the intelligence of all of you for some time now. Always thought the day would come when I'd actually post and solicite feedback. Well here I am.
61 years old. DW is 59. Kids grown up and gone. Proud to have sent them to the colleges of their choice. It wasn't easy but they are debt free and so are we with regard to college.
Assets total $5M, with $2.7M in after tax account. $1.8M in 401K. Balance of $500,000 in wife's 401K. Pension is $42,000 annually should I begin now. That's single life option, no benefit to DW. My Social Security would be $24,000 at age 62. I'm inclined to start collecting at 62 as breakeven at 65 is close to 14 years. Why wait? Owe $280,000 on home valued at $$470,000. Also own condo in warm climate valued at $130,000. This paid for.
Huge concern, health insurance which I estimate at $15,000 annually. Lastly I do not live extravagantly but to live tomorrow like I live today is $120,000 annually. (Mortgage and taxes are in this number)
Firecalc says all is good- but I'm afraid anyway.
Any words of wisdom you good people?
Sent from my SM-T550 using Early Retirement Forum mobile app
61 years old. DW is 59. Kids grown up and gone. Proud to have sent them to the colleges of their choice. It wasn't easy but they are debt free and so are we with regard to college.
Assets total $5M, with $2.7M in after tax account. $1.8M in 401K. Balance of $500,000 in wife's 401K. Pension is $42,000 annually should I begin now. That's single life option, no benefit to DW. My Social Security would be $24,000 at age 62. I'm inclined to start collecting at 62 as breakeven at 65 is close to 14 years. Why wait? Owe $280,000 on home valued at $$470,000. Also own condo in warm climate valued at $130,000. This paid for.
Huge concern, health insurance which I estimate at $15,000 annually. Lastly I do not live extravagantly but to live tomorrow like I live today is $120,000 annually. (Mortgage and taxes are in this number)
Firecalc says all is good- but I'm afraid anyway.
Any words of wisdom you good people?
Sent from my SM-T550 using Early Retirement Forum mobile app