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Old 10-02-2015, 04:03 PM   #21
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Join Date: Nov 2010
Location: Vermont & Sarasota, FL
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Of the $40k of expenses, how much is rent?

Assuming she continues to rent, that rent is included in the $40k and her investments earn an amount equal to inflation or better, then I think she is fine.

If she retires today. in the next 3.5 years (58.5 to 62) she'll use $40k a year or $140k
In the following 4 years (62 to 66) will use $28.2k a year ($40k - $11.8 SS benefit on her own record) or $113k
From age 66 on, she'll need $9.3k a year ($40k - $30.7 survivor SS benefit)... assuming a 3.5% WR that would be $265k

Total she needs is $518k and she has $730k so I think she should be all set.

If she spends $150k on a home then she'll only have $580k and should still be ok because presumably her "need" will be lower because she will not be paying rent but would be paying property taxes, insurance, HOA fees, etc but those should be lower than her rent and that is where the rent or own analysis comes in.

What I think might be interesting is to run Firecalc with a rent scenario and an own scenario and see how different it is.

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Old 10-02-2015, 04:14 PM   #22
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My dad got the evil "C" and also went quick and mom needed help. She is blessed to have you there to help her. Sorry for her (and your) loss. Nail down the social security data first before making any other financial moves.

"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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