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Plenty of Years to Go
Old 02-08-2015, 08:28 AM   #1
Confused about dryer sheets
 
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Plenty of Years to Go

Hello,

I have been visiting these boards frequently and learning a lot over this time. I am 46 years old and hope to retire at 55 due to the fact that most of my retirement savings will be penalized 10% if I go sooner.

I am married with a six year old son. Our income is about 110k. We a 200k mortgage, but otherwise have no debt.

I currently have 225k in a 401k and 1075k in my company's ESOP.

I've been blessed by the ESOP's performance. I feel similarly nervous about my lack of diversification. Unfortunately, there is little I can do about it until I retire (or leave my company.)

Anyway, just wanted to say hi and to thank everyone for all I have learned and hope to in the coming years.
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Old 02-08-2015, 09:55 AM   #2
Thinks s/he gets paid by the post
 
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Quote:
Originally Posted by CCBoard View Post
Hello,

I have been visiting these boards frequently and learning a lot over this time. I am 46 years old and hope to retire at 55 due to the fact that most of my retirement savings will be penalized 10% if I go sooner.
You could do a Roth conversion and wait 5 years, then you would have access to the converted amount (not earnings, just basis) without penalty at 51. Repeat every year to get a delayed stream of income.

72t is another way around the 10% penalty.
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