cynicalbuthopeful
Recycles dryer sheets
- Joined
- Aug 20, 2017
- Messages
- 70
Salutations from Mid-Atlantic region of U.S. — targeting ER 2021
First, thank you for the great content and genial atmosphere. Hope to contribute to the knowledge on this site.
Like others, I’ve lurked mostly, posted a bit. Hopefully my introduction post doesn’t put folks to sleep.
I will be 53 this year, and DH is 56. We plan to relocate to Florida in 2021 and enjoy a somewhat early retirement (I am a native Floridian and parents and siblings are in FL. Hubby loves FL too). No kiddos (raised a neice for 5 years when she was a teenager — that was plenty, thank you). Nearly a dozen neices and nephews so no shortage of family activities when we want them.
Currently at $1.6M net worth — targeting $2.1M for March 2021. Our plan is to leverage the IRS rule of 55 (The IRS Rule of 55 allows an employee who is laid off, fired, or who quits a job between the ages of 55 and 59 1/2 to pull money out of his 401(k) or 403(b) plan without penalty) to tap my 401K to help with the transition until DH can tap his retirement at 59 1/2 later that year. We are looking hard at our asset allocation (thanks to the posters on this site for reminding me not to be cavalier about this). I would call us buy and hold investors, and this has served us well. But now that we have ‘set a date” we are are moving to a less aggressive allocation. More to come on this. Current allocation - ~85% mutual funds/stocks, ~8% bonds, ~7% cash
Like others, one of the big issues for us to address is healthcare. The mega corp I work at does not provide health care in retirement. He works for a smaller company, so no medical coverage there. We are both healthy, but we need to get in better shape before we retire.
We have no debt other than mortgages (our home and a home a neice rents from us). When we sell the houses we will bank the proceeds. We’ve tracked our expenses most of our marriage (29 years), and we budget monthly. I suspect we will continue that in retirement.
We have been exploring several “old-Florida style” beach towns. We are “dog people” (highly allergic to cats), so dog park is part of our ideal retirement location (I know that might sound a bit nutty to some, but then, so is the dog). We’ve got things narrowed down, but may travel for a bit when we retire, rent for year to ensure it is a location we want to live year round, and then buy a house for cash.
No questions at the moment, but wanted to say hello and thank you!
CBH
First, thank you for the great content and genial atmosphere. Hope to contribute to the knowledge on this site.
Like others, I’ve lurked mostly, posted a bit. Hopefully my introduction post doesn’t put folks to sleep.
I will be 53 this year, and DH is 56. We plan to relocate to Florida in 2021 and enjoy a somewhat early retirement (I am a native Floridian and parents and siblings are in FL. Hubby loves FL too). No kiddos (raised a neice for 5 years when she was a teenager — that was plenty, thank you). Nearly a dozen neices and nephews so no shortage of family activities when we want them.
Currently at $1.6M net worth — targeting $2.1M for March 2021. Our plan is to leverage the IRS rule of 55 (The IRS Rule of 55 allows an employee who is laid off, fired, or who quits a job between the ages of 55 and 59 1/2 to pull money out of his 401(k) or 403(b) plan without penalty) to tap my 401K to help with the transition until DH can tap his retirement at 59 1/2 later that year. We are looking hard at our asset allocation (thanks to the posters on this site for reminding me not to be cavalier about this). I would call us buy and hold investors, and this has served us well. But now that we have ‘set a date” we are are moving to a less aggressive allocation. More to come on this. Current allocation - ~85% mutual funds/stocks, ~8% bonds, ~7% cash
Like others, one of the big issues for us to address is healthcare. The mega corp I work at does not provide health care in retirement. He works for a smaller company, so no medical coverage there. We are both healthy, but we need to get in better shape before we retire.
We have no debt other than mortgages (our home and a home a neice rents from us). When we sell the houses we will bank the proceeds. We’ve tracked our expenses most of our marriage (29 years), and we budget monthly. I suspect we will continue that in retirement.
We have been exploring several “old-Florida style” beach towns. We are “dog people” (highly allergic to cats), so dog park is part of our ideal retirement location (I know that might sound a bit nutty to some, but then, so is the dog). We’ve got things narrowed down, but may travel for a bit when we retire, rent for year to ensure it is a location we want to live year round, and then buy a house for cash.
No questions at the moment, but wanted to say hello and thank you!
CBH
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