One Way Bungi Jumping

[perry54]

Hello to everyone, I'm Perry, 56, single with one 16y/o son living with me. I'm considering ER or at least semi-retirement. I have 4 years to go for a company pension, but don't know if I can hang on that long. My son will be a senior this fall and after graduation in June 2012, I'm free as a bird. I've been trying to narrow down where I want to live. I presently live in NH but the climate and the high cost of living does not make for the ideal retirement location. My main concern is how much income do I really need. At age 56 I get nothing from SS or the company and I can't draw down on my 401K until 59 1/2, so what I have is basically all I have at the present time. I'm pretty sure I can do it by mid 2012 if I work my butt off this year and part of next but would I be foolish to not wait 4 more years?

 

[Gumby]

Welcome, Perry. As a first step, you need to know how much you spend now and how much you anticipate spending in retirement (which probably will be closer to what you spend now than you may think at first). Then, plug your numbers into Firecalc (link at the bottom of the page) and see what it tells you.

 

[Purron]

How about medical insurance? That's a biggie for lots of us.

 

[Arnie]

Ed, please see http://www.early-retirement.org/for...k-to-self-directed-ira-55376.html#post1052060. I did not want to hijack this post.

 

[Bestwifeever]

Welcome to the boards.

Great thread title!