58, DW 53. 2 16yr old sons.
IRA/401k = 1.29m, contributing max. All index funds. AA is 73/21/6
Highest expenses in the last 6 years = 104k. Rolling 5 yr average 92k.
His SS @ 70 = 40k
Her SS @ 70 = 12k
Sell house in 2019 = net 275k
If I wait till 2018, I think I’m good to go. What I’m trying to get comfortable with is retiring at the end of this year. Running Firecalc gives me an 81% success rate given the above plus the following assumptions:
1) Expenses for 2017 & 2018 at 135k (add health care)
2) Not included in those calculations:
a. 83k in 529. Son1 Navy, son2 community college for 1st 2 yrs. Those are their stated plans.
b. Her pension = $60k, though not sure when she can collect or lump sum vs payments
c. Any cash/liquid/non tax advantaged assets available at the start of 2017.
3) No income. The likelihood is that for I could/would consult or work part time for the company I’m leaving and/or a few other contacts I’ve made over the years. DW has also threatened to go back to work if I’m home all day.
Too risky?
IRA/401k = 1.29m, contributing max. All index funds. AA is 73/21/6
Highest expenses in the last 6 years = 104k. Rolling 5 yr average 92k.
His SS @ 70 = 40k
Her SS @ 70 = 12k
Sell house in 2019 = net 275k
If I wait till 2018, I think I’m good to go. What I’m trying to get comfortable with is retiring at the end of this year. Running Firecalc gives me an 81% success rate given the above plus the following assumptions:
1) Expenses for 2017 & 2018 at 135k (add health care)
2) Not included in those calculations:
a. 83k in 529. Son1 Navy, son2 community college for 1st 2 yrs. Those are their stated plans.
b. Her pension = $60k, though not sure when she can collect or lump sum vs payments
c. Any cash/liquid/non tax advantaged assets available at the start of 2017.
3) No income. The likelihood is that for I could/would consult or work part time for the company I’m leaving and/or a few other contacts I’ve made over the years. DW has also threatened to go back to work if I’m home all day.
Too risky?