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Newbie in Princeton and feeling clueless
Old 01-09-2008, 09:44 AM   #1
Confused about dryer sheets
 
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Newbie in Princeton and feeling clueless

- but delighted to be retired at 62.5. Combination of rental income, drawing from retirement stash at 4% (that's the conventional wisdom, right? - that taking 4% will never deplete my base of $250K?), and Soc. Sec. - total sabout $37,800/yr - and a lot of my greatest pleasures are free or really inexpensive, so I'm set until I acquire an expensive hobby. Have a $13K credit card debt at 0%, and plan to pay it off this year. Another $10K in a 5% money market for emergencies.

Not sure whether the above plan will work for the forseeable future, but this is the year to try it out. Got any opinions, advice to offer?

I'm really blessed by living with two housemates (very cool women in their mid-thirties); they help pay the mortgage and provide good company and sane feedback, including dating and fashion tips. One of them has been on the ERF for a while now, so here I am.

Delighted!

"If your knees aren't green by the end of the day, you need to seriously re-examine your life." - Bill Watterson
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Old 01-09-2008, 09:50 AM   #2
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Originally Posted by BallGowns2BlueJeans View Post
Not sure whether the above plan will work for the forseeable future, but this is the year to try it out. Got any opinions, advice to offer?
BG2BJ, Welcome to the forum. The only advice I'd offer is to run your numbers through FIRECalc. This should offer you some good feedback on whether or not your plan will work.
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Old 01-09-2008, 09:52 AM   #3
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Hi, BallGowns2BlueJeans (Love that! Was true for me also!) --

Welcome to the board! Have you tried running your figures thru FIREcalc to see how you'll fare? Also, what are your expenses and have you figured in what you might have to spend on health care -- a pretty big number for many on this board?

I'm sure many others will be along shortly to add their words of welcome/wisdom; in the meantime, look around at the board...there's lots of really good stuff here! (And, some really interesting folks too.)
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Thanks for the quick and warm welcome, folks!
Old 01-09-2008, 10:01 AM   #4
Confused about dryer sheets
 
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Thanks for the quick and warm welcome, folks!

It's good to hear from you so soon. Later - - -
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Old 01-09-2008, 10:03 AM   #5
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Welcome BG2BJ,
The foreseeable future is really not the issue, but 20-30 years out IS. First a couple of things:

1. Have you run the FIRE calculator?
2. Will that $37,800 cover your expenses and by how much?
3. What about the ugly elephant in the room: health care insurance? Are you covered for now?
4. Is your real estate income from your two housemates, or is that a separate property with it's associated tax advantages?

Lots of questions, but curious. Your $200K+ retirement stash is nice, but whether it is enough depends entirely on how it's invested and, more importantly, how much you spend. I couldn't retire with it because of my fixed costs, but everyone is different.

Again, welcome! Oh, were you associated with PU?
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Old 01-09-2008, 10:14 AM   #6
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Welcome ,
Princeton is a beautiful area .I lived in Morris County N.J. for many years.
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