cinman2000
Recycles dryer sheets
I've been diving into the great info here the last couple of weeks. Very helpful!
Here are my stats:
I'm 52, my wife is 50. We have 1.8 mil in investment accounts + 150k in primary residence. Our mortgage will be paid off in 5 years. We have been aggressive investors and held tight during the recession. We have recently done a year by year projection of expenses from now until end of life. We have two daughters 16 and 19. Included in our plan is 100k each for their college and 12k each for weddings. Planning for a RV purchase at retirement time and car replacements every 5 years until age 80. Planning for an international vacation every 4 years until age 85. Planning out of pocket healthcare expenses at 10K per year based on info I have found here (we are very fit and healthy). Our expenses are fairly high now paying for college and having one kid still at home. Over the next 6 years annual expenses are projected at 148k. Once the kids are independent and we are not working it drops dramatically to about 73k. Planning to beat inflation by about 2.8% average with our investments and estimating our tax rate to be the same as while working.
My excel spreadsheet show that retirement this December is viable. Putting these numbers in FIREcalc gives us about a 96% and it only increases by one percent each year if we delay retirement. Quicken also confirms a successful plan.
My dilemma is that I believe this to be a conservative plan, am burned out in my job and want to FIRE in December of 2014. I think I may be battling uphill however when it comes to my wife and my financial planner.
Any holes you see in my plan or advice for negotiations will be greatly appreciated
Here are my stats:
I'm 52, my wife is 50. We have 1.8 mil in investment accounts + 150k in primary residence. Our mortgage will be paid off in 5 years. We have been aggressive investors and held tight during the recession. We have recently done a year by year projection of expenses from now until end of life. We have two daughters 16 and 19. Included in our plan is 100k each for their college and 12k each for weddings. Planning for a RV purchase at retirement time and car replacements every 5 years until age 80. Planning for an international vacation every 4 years until age 85. Planning out of pocket healthcare expenses at 10K per year based on info I have found here (we are very fit and healthy). Our expenses are fairly high now paying for college and having one kid still at home. Over the next 6 years annual expenses are projected at 148k. Once the kids are independent and we are not working it drops dramatically to about 73k. Planning to beat inflation by about 2.8% average with our investments and estimating our tax rate to be the same as while working.
My excel spreadsheet show that retirement this December is viable. Putting these numbers in FIREcalc gives us about a 96% and it only increases by one percent each year if we delay retirement. Quicken also confirms a successful plan.
My dilemma is that I believe this to be a conservative plan, am burned out in my job and want to FIRE in December of 2014. I think I may be battling uphill however when it comes to my wife and my financial planner.
Any holes you see in my plan or advice for negotiations will be greatly appreciated