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Old 12-20-2009, 09:40 PM   #21
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Originally Posted by Gunni View Post
As to expenses, we have a house payment (1100.00), and a car payment (350.00)that I will have paid off prior to retirement. We carry no other debt, credit cards when used are paid off monthly. We have 2 401K's that are 400K +

Thanks for your replies!
Welcome Gunni, I think that what some of the others are trying to tell you is to make your expense budget first. Otherwise you (or anyone else) cannot figure out if you are on track or not to retire. You seem to be more focused on the portfolio side of the equation.
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Old 12-21-2009, 04:59 PM   #22
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Originally Posted by LARS View Post
Curious your reasoning behind the pension having a value of 25 times? 4% WR (just getting the ball rolling...)

Personally, I would be circumspect at looking at a pension having the equivalent value of 25 times. I doubt you can monetize (i.e. borrow agaisnt the income stream) a pension at anywhere near that multiple (even in this current low interest rate environment).
Good grief, I did say "cocktail napkin!" And the OP has to put something into this as well. New "cocktail napkin" chart:

SourceLump SumsAnnual IncomeMonthly Income
DW 401k$ 405,000
DH 401k$ 410,000
IRA's$ 250,000
Tot Nest Egg$ 1,065,000 
4% SWR $ 42,600$ 3,550
3% SWR $ 31,950$ 2,663
DH Pension $ 1,700
DW Pension $ 1,200
SS $ 30,000$ 2,500
4% SWR $ 8,950
3% SWR  $ 8,063
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Originally Posted by Gunni
So just to clear up the 401K situation, both my wife and I each have 401K's, current value is at 405K and 410K respectively. I ran Firecalc as suggested, data looks great! We are low expense creatures of habit. I tallied the basics, Long Term Health Care, Insurance, Home/Auto, monthly bills, Electric, Cable, Food, etc. I beleive it comes to 3800.00 a month at this point, subject to change.
You can give notice manana --- via phone...
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Old 12-21-2009, 06:12 PM   #23
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Welcome Gunni, with these kinds of numbers and the info you mentioned I would seriously consider retiring today or say in a year to get more comfortable with the idea, not in 5 years! You can adjust the suggestions here to your current situation and see if what you have is already enough...
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Old 12-21-2009, 07:46 PM   #24
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Welcome Gunni, with these kinds of numbers and the info you mentioned I would seriously consider retiring today or say in a year to get more comfortable with the idea, not in 5 years! You can adjust the suggestions here to your current situation and see if what you have is already enough...
I would say that depends upon when the pensions kick in.
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Old 12-21-2009, 09:15 PM   #25
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You should do a FIRECALC for your income you want (pre-tax) putting in SS for when you expect to take it and putting in pensions for when they will start. You will need a higher withdrawal rate until SS and the pensions kick in.
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Old 12-22-2009, 03:53 PM   #26
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Welcome Gunni, with these kinds of numbers and the info you mentioned I would seriously consider retiring today or say in a year to get more comfortable with the idea, not in 5 years! You can adjust the suggestions here to your current situation and see if what you have is already enough...
I agree. You have plenty of money and are burnt out. Time to pull the plug.
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