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I've just learned that my parents, 59 and 53 are thinking about retiring early. Good for them, I thought, until I heard the numbers. My mother has $118k in a target date 401(k) with 45% in bonds. All I know about my father's 401(k) is that the amount is less than that of my mother's. They are currently maxing out both retirement plans and my mother will get a pension of about $175,000 (buyout). I believe that they make around 100k a year, but are still paying off a mortgage. They think that they can retire in 3 years.
I know that I don't have all of the information, but I do know that they're counting on an inheritance (they don't know any amounts) from my thriving and extremely active grandfather who seems to have a good deal of time left in him.
I don't think they could retire comfortably, the way they want to. How do I help them realize this?
Last edited by Miss_Lala; 09-24-2007 at 11:51 AM.
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