Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Retiring in June (age 56)
Old 04-22-2019, 05:17 AM   #1
Dryer sheet wannabe
 
Join Date: Oct 2017
Posts: 13
Retiring in June (age 56)

I've been reading this board for a couple years and found lots of helpful information. I've been working with an FA for about 5 years and think I will fully takeover management by this time next year. He's been helpful in planning and evaluating what we've been doing for a long time and getting us to see the goal ahead and boosting investing.

I've got about 2.3m in tax-deferred, 600k taxable and a pension. I will get about 500k in various deferred comps over the next two years. My company offers retirees option to stay on group health plan after age 55 and enough service.

I have some different quirks as to how my assets work in the plan but the FAs retirement planning software (large financial institution) and the several online planners I've used typically give 90-95% success.

My wife and I still have one daughter to get through college in next few years which is covered by 529 savings. We will spend time looking at potential retirement locations out west (live in eastern city suburbs now) in small city near mountains. CO, MT, WY are places we'll start.

Thanks for reading and I'll be here asking questions and participating from now on.
__________________

WestwardBound is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-22-2019, 05:33 AM   #2
Recycles dryer sheets
 
Join Date: Oct 2015
Location: Florida/Indiana
Posts: 222
Congratulations! Well done.
__________________

bigcmagor is offline   Reply With Quote
Old 04-22-2019, 05:35 AM   #3
Thinks s/he gets paid by the post
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,350
Welcome to the forum. Congratulations!
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
flintnational is offline   Reply With Quote
Old 04-22-2019, 05:37 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Nov 2016
Posts: 2,595
Just wanted to say congratulations on your up coming retirement. That is a big deal in a persons life.
If I read the post correct you should have about 3.4M and not knowing your projected expenses you have a nice stash to work with.
Good Luck and you really have found a great place for all your questions.
street is offline   Reply With Quote
Old 04-22-2019, 05:49 AM   #5
Recycles dryer sheets
 
Join Date: Mar 2015
Posts: 68
If 3.4 million plus a pension is only giving you a 90-95% success rate, your annual spending must be super high! Congratulations on your achievements.
sturbridge is offline   Reply With Quote
Old 04-22-2019, 06:56 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,162
Congrats.Does sound like decently high budget, but nothing wrong with that.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 04-23-2019, 07:11 PM   #7
Dryer sheet wannabe
 
Join Date: Oct 2017
Posts: 13
Thanks for the comments. I do have a pretty good sized monthly nut. We live in a pretty HCOL are. I still have a mortgage and I will pay the full rate for the health plan. But its a good plan that doesn't have much out of pocket after the premium.

Over time the plan is to downsize somewhere else out west using the equity (about 600k) in the house to roll into a no mortgage house and the health care premiums end at medicare. Our current state isn't too bad on taxes and real estate taxes are far from the highest on the east coast.

In time I hope to bring our monthly spending needs down but I don't want to have to change our current lifestyle too drastically.
WestwardBound is offline   Reply With Quote
Old 04-23-2019, 07:31 PM   #8
Thinks s/he gets paid by the post
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 4,452
I'm going to toss Utah into that mix of states you mentioned either Northern Utah where I went to college or Cedar City..Cedar would be my choice,
ivinsfan is offline   Reply With Quote
Old 04-23-2019, 07:37 PM   #9
gone traveling
 
Join Date: Dec 2018
Posts: 656
Impressive. You would live quite well in Florida if you don't mind the heat and humidity. No state income tax.
Nick12 is offline   Reply With Quote
Old 04-24-2019, 03:05 PM   #10
Thinks s/he gets paid by the post
HNL Bill's Avatar
 
Join Date: Dec 2017
Posts: 1,477
Congrats! Why don't you dump the FA now, and save $30K or so? As long as you have a tax-efficeint plan for distributing assets....
__________________

__________________
Balance in everything.
HNL Bill is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Retiring FROM vs. Retiring TO. stepford Life after FIRE 56 11-04-2015 08:42 PM
FIRED on 1 June 2013 at age 48 ChainsBeGone Hi, I am... 17 11-17-2012 03:04 PM
Hi, I turn 55 tomorrow (21 March), and am retiring June... wander luster Hi, I am... 20 03-22-2012 02:50 PM
Michigander retiring next June JustJan52 Hi, I am... 6 08-10-2010 06:09 PM
So, do you feel your age? Act your age? Like your age? vickko Life after FIRE 84 04-10-2010 01:47 PM

» Quick Links

 
All times are GMT -6. The time now is 01:54 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.