Re: Need Advice - Where to put $$$ in ER?
Hi, snowbird. You omitted a few facts, without which it is hard to advise: annual expenses and annual pension income--and when do you start collecting it. Also, will your wife have right of survivorship? Will your company pay $7500/year toward your health insurance forever, to age 65, or ? Will your wife inherit that (or half that)?
Since you plan to pull 4% ($30k) from your tax-deferred account even though you'll be working part-time, I assume you aren't collecting your pension immediately upon retirement. Good idea to pad the Roths and taxable savings by working part-time. You probably noticed that supporting two homes in retirement can be a financial challenge. You might find that it's cheaper to rent in one of the locations--I know several people who do that.
Have you tried plugging your numbers into FIRECalc on this web site?
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