Am a new member. Have not stopped reading past posts. Quite impressed with the knowledge of members so looking for validation and advice.
I'm almost 58 years old, took early retirement 2 years ago, DH is same age still working, planning to retire at 60 1/2. Two children, both out of college and both with full time jobs. Combined Assets: House and 2 rentals - equity of $600K. 401K - $425K, IRA - $750K. Cash - $100K. Need $80K after tax for retirement income. My current pension and lifetime annuity is $60K before tax.
Here's our plan. In 2 years, sell our house and one rental - est. cash for both after tax: $300K. Use to fund gap till Social Security. Move to rental in HI and make that principal residence, sell after 2-3 years. Move back to mainland at that time - buy or rent? Not yet decided. Get S.S. at 62 - $40K for both. Doable? Any suggested allocation? By the way, strong INTJ.
Have a good weekend, everyone!