Caligal611
Dryer sheet wannabe
Hi. Appreciate any input and advice. Am embarking on a new life as a single woman after 31 years of marriage in So Cal. Empty nester too. A lot of major life changes over the last several months. Am a little shell shocked.
Retired from my legal position with megacorp in February 2018. 18 years w/ my last employer. 35 year career.
Alimony: $80k until Dec. 2020 . Drops to $42k a year commencing in Jan. 2021 when my pension kicks in @ 65. Lifetime alimony payments w/out COLA.
Pension: $80k commencing Jan. 2021. No COLA.
Social Security: $2886 per month commencing @ FRA based on SS website estimate.
Assets: $1,500,000 in IRA; $60,000 in cash . Plan to limit cash withdrawals until I receive pension.
Home: $430,000 mortgage balance @ 3.75%. Recent appraisal @ $1,300,000. Property taxes: $10,000 a year. (Note: my ex kept the 30 year family home in Pasadena w/ tiny mortgage; I am living in our beach cottage in So Cal that we purchased in 2010).
Expenses: $85,000 per year estimated . I love to travel and my mortgage and property taxes are obviously high. My adult daughters live in Cali and I don't want to move out of state. Cali native.
Thoughts?
Retired from my legal position with megacorp in February 2018. 18 years w/ my last employer. 35 year career.
Alimony: $80k until Dec. 2020 . Drops to $42k a year commencing in Jan. 2021 when my pension kicks in @ 65. Lifetime alimony payments w/out COLA.
Pension: $80k commencing Jan. 2021. No COLA.
Social Security: $2886 per month commencing @ FRA based on SS website estimate.
Assets: $1,500,000 in IRA; $60,000 in cash . Plan to limit cash withdrawals until I receive pension.
Home: $430,000 mortgage balance @ 3.75%. Recent appraisal @ $1,300,000. Property taxes: $10,000 a year. (Note: my ex kept the 30 year family home in Pasadena w/ tiny mortgage; I am living in our beach cottage in So Cal that we purchased in 2010).
Expenses: $85,000 per year estimated . I love to travel and my mortgage and property taxes are obviously high. My adult daughters live in Cali and I don't want to move out of state. Cali native.
Thoughts?