Thanks for allowing me to join this group. I'm looking forward to learning more from my peers.
I'm 55 years old. My husband is 65 and retired 3 years ago when he was unable to find work. He took his minimum SS.
I've got a great retirement plan at work and am plugging away at adding to it, maxing out the 457. My employer, being government, doesn't pay into SS, but requires a 10% deduction into a 401(a), which it matches with 12%. I've got about $500K in these two plans.
In addition, we have $100K in stocks and about $100K in IRAs.
Not much cash on hand.
We have 12 years left on our $200K mortgage, which is at 3% interest. I know it's not a good idea to take our investments and pay off the mortgage, but it sure would be nice to not be paying that $1700/month when I retire.
I had cancer three years ago, which provided the opportunity to re-prioritize. I've set the goal of retiring at 62, even if it means living very modestly. We don't live extravagantly, by any means. One car, small house, quality time is friends and family, etc.
That's my story!
I'm 55 years old. My husband is 65 and retired 3 years ago when he was unable to find work. He took his minimum SS.
I've got a great retirement plan at work and am plugging away at adding to it, maxing out the 457. My employer, being government, doesn't pay into SS, but requires a 10% deduction into a 401(a), which it matches with 12%. I've got about $500K in these two plans.
In addition, we have $100K in stocks and about $100K in IRAs.
Not much cash on hand.
We have 12 years left on our $200K mortgage, which is at 3% interest. I know it's not a good idea to take our investments and pay off the mortgage, but it sure would be nice to not be paying that $1700/month when I retire.
I had cancer three years ago, which provided the opportunity to re-prioritize. I've set the goal of retiring at 62, even if it means living very modestly. We don't live extravagantly, by any means. One car, small house, quality time is friends and family, etc.
That's my story!