Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Need Post-Career Advice
Old 10-10-2010, 09:44 PM   #1
Dryer sheet aficionado
 
Join Date: May 2008
Posts: 32
Need Post-Career Advice

Thanks, in advance, for your kind advice. At 52, I have left a career with $500,000 in an IRA, all of which is in the Vanguard Wellington fund, VWELX. It's unlikely I will find employment in my field and am seeking any sort of job, even if part-time. Most of my mortgage is paid off and the monthly coop maintenance fee is $350/mo. I have no credit card debt and no children. I'm not married.

I also have $150,000 cash in an ING savings account.

My question pertains to the scenario of retiring. If I were to combine the $500,000 from my IRA with the $150,000 in savings, for a total of $650,000, is a 72T distribution program a viable approach?

Thanks.
__________________

__________________
Marcretire is offline   Reply With Quote
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!

Old 10-10-2010, 10:05 PM   #2
Thinks s/he gets paid by the post
Coach's Avatar
 
Join Date: Nov 2005
Location: Colorado, USA
Posts: 1,127
Hi Marcretire, and welcome to the forum!

The answer to your question depends on a lot of factors, with perhaps the most important being, how much do you need to live on each year?

There are many other factors in the equation as well. I'd suggest you explore FIRECalc, the retirement calculator. You'll find a link on every page. It will help you develop at least an initial answer to your question, and help you think about other important considerations.

Again, welcome!

Coach
__________________

__________________
"Comprehensive health insurance is an idea whose time has come in America." President Richard M. Nixon, February 6, 1974
Coach is offline   Reply With Quote
Old 10-10-2010, 10:21 PM   #3
Dryer sheet aficionado
 
Join Date: May 2008
Posts: 32
Quote:
Originally Posted by Coach View Post
Hi Marcretire, and welcome to the forum!

The answer to your question depends on a lot of factors, with perhaps the most important being, how much do you need to live on each year?

There are many other factors in the equation as well. I'd suggest you explore FIRECalc, the retirement calculator. You'll find a link on every page. It will help you develop at least an initial answer to your question, and help you think about other important considerations.

Again, welcome!

Coach
Thanks! I can live fairly comfortably on $2,000/mo.
__________________
Marcretire is offline   Reply With Quote
Old 10-10-2010, 10:33 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,975
Quote:
Originally Posted by Marcretire View Post
Thanks! I can live fairly comfortably on $2,000/mo.
Are you including private health insurance in your $2000/mo figure?
__________________
aaronc879 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Career advice for DW and I laurence Young Dreamers 25 04-24-2010 04:22 AM
The best career & ER advice we'll ever get... Nords Other topics 7 07-28-2007 01:46 PM
Hello + Career Advice veritasophia Hi, I am... 21 04-14-2006 04:15 PM
Malakito here / career advice malakito Hi, I am... 12 07-16-2004 02:18 PM

 

 
All times are GMT -6. The time now is 12:39 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.