Married with children aged 15, 13, 10 and 9 ( I know, no chance, right?).
Want to retire in 3 years. Currently age 53 with 29 years at major company.
Can keep company insurance after retirement. Also will have tricare (Military) insurance at age 60.
Anticipate that in 3 years my 401K will be worth $750,000, and my company pension lump sum should be worth $450,000.
I receive VA disability pension of $1300/Mo (tax free). I'll also qualify for Army Reserve retirement at age 60 ($800/Month), and hopefully some social security pension will still be there when I reach 62.
Live in the rural south, house paid for, no current bills other than utilities, medical co-payments, home/car insurance premiums. Total monthly bills equal approximately $1000. Probably spend another $2000 a month on miscellaneous stuff (gas, food, entertainment, school). I figure I need about $4000 a month to do it (Not counting wifes income).
Wife is 12 years younger and will continue to work (nurse).
What do you think