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As they say on the talk shows, Long time listener, first time caller.* Thouroughly enjoy the site.* My details:*
- 45 yrs old
- Married, 2 kids in 3rd, 5th grades
- Hoping to make it to 50 before retiring
- Basically working for the ~ free retiree health ins. that kicks in at 50
- Have been maxing out on the 401k for years
- House almost paid for $250k value)
- Living below means, no credit besides small house mortgage
Could leave now with ~$1.1MM in liquid funds, split 65% tax deferrred / 35% after tax.*
Should have ~$2MM at 50, partly due to L/S pension ramping up another $250k by 50,
- ~$30k dedicated to educ funds, +$1k/mo currently being invested (another reason to work to 50))
Concerns:* 65% tax deferred currently- will have to have a plan to eat into that sparingly before 59-1/2 - I know about the = & substantial w/d's...??
- Can easily live on ~$65k after taxes; probably more like $50k (todays $'s)
Biggest issue is whether I can last in the workplace another ~ 5 yrs! I'm pretty confident that if I can last to 50, I'll be set. Question is how iffy is it if I can't make it that long..!
Comments?
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Most People are about as happy as they make up their mind to be - A. Lincoln
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