 |
|
10-21-2009, 07:16 AM
|
#21
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,645
|
Once you start drawing your reserve component retirement check at 60 you also qualify for Tricare. My pension will be similar, when I turn 60.
|
|
|
 |
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!
|
|
10-22-2009, 05:48 AM
|
#22
|
|
Recycles dryer sheets
Join Date: Oct 2009
Posts: 85
|
Right now, with 5 kids at home I am only able to save about $500 per month, and my salary is around $80K. As for my home, I only owe about $38,000 and it will be paid off by the time I reach 59-1/2.
|
|
|
|
|
10-22-2009, 07:47 AM
|
#23
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
|
Will the wife get some SS too at 62 or later?
|
|
|
|
|
10-22-2009, 08:05 AM
|
#24
|
|
Recycles dryer sheets
Join Date: Oct 2009
Posts: 85
|
 Quote:
Originally Posted by rec7
Will the wife get some SS too at 62 or later?
|
Yep,..but she is 12 years younger than I am, so I'll be around 75 before that happens.
|
|
|
|
|
10-22-2009, 08:45 AM
|
#25
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
|
I think your in good shape. The only enemy of yours I can see is health insurance for you and the wife. But with 500k and a paid for home you will be in great shape. Living in AR is cheap I know this from living in MO. Average household income in AR is around 41k in 2008. Census Bureau reports on income, poverty - USATODAY.com Many people from MO move to AR to retire.
|
|
|
|
|
10-22-2009, 01:08 PM
|
#26
|
|
Recycles dryer sheets
Join Date: Jun 2004
Location: Bedford, NS
Posts: 155
|
I think you are in pretty good shape. Five school aged kids could be a problem if you can't keep them off the dole.
Also, 59 1/2 isn't exactly early retirement. Maybe think about manageing expenses and getting out earlier.
Good luck!
|
|
|
|
|
10-24-2009, 11:07 PM
|
#27
|
|
Confused about dryer sheets
Join Date: Jun 2009
Posts: 8
|
Quote:
Originally Posted by superdave
I think you are in pretty good shape. Five school aged kids could be a problem if you can't keep them off the dole.
Also, 59 1/2 isn't exactly early retirement. Maybe think about manageing expenses and getting out earlier.
Good luck!
|
Perhaps three years ago, 59 1/2 would not have been considered early. I think 59 1/2 is going to be the new early retirement.
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
