Here are the stats:
Me - 48, DW - 48
Me - federal employee with COLA'd pension at 56, DW - small home business
Kids - 2 in college (freshman and junior), money that will be needed for that is set aside in cash
Home - paid off. We like it here and will probably stay here after retirement (in 7 1/2 years).
Right now we are living on about 50% of my salary and the rest is invested.
TSP is funded to the max (in the very conservative L fund - 20% stock, 80% fixed income). At 50 years old I will start the catch up contributions. Later this year I will switch my contributions to the Roth TSP (later that will be transferred to the regular Roth IRA's after I retire - pssst Wellesley).
The regular Roth IRA's I have mentally set aside in my mind that will be untouched and left to the kids.
My pension will be approximately 55% of my take home pay. So I'm pretty sure our retirement expenses will be covered by that in retirement. Additional monies as needed will come from TSP withdrawals and taxable investments (we plan to travel a lot in retirement).
In my taxable accounts I am keeping it simple and relatively conservative. I have been investing in OAKBX (Oakmark Equity and Income) and PRPFX (Permanent Portfolio) and adding to my cash cushion biweekly.
My question is...am I missing anything? I feel at this point I am in the home stretch and really don't want to blow it. That is where my conservative approach to the stock/bond allocation comes in.