Class of 2016

I'll throw my name into this hat. I should hit my number in March, 2014 (3% SWR) but planning on working longer to build-up a cushion for those unplanned expenses that come with life. The biggest unknown right now is to wait and see if the free state health benefits (wife retired 4 years ago) get changed with Obamacare.
 
My target is 2016 while I am still in my 50's.

I'm tired of working! I'm ready for some FUN!!! :dance:
 
Whoops, I joined the class of 2013. DW may end up class of '14, '15, or right here at c/o '16.
 
Working until spring 2016, call it April 2016 as target. Will be 52 and looking forward to it. Only concern like many is the unknown health care cost question. Doing good for health, but there is just so much uncertainty now for health care it is hard to plan for cost numbers with so much chance for large increases. Good thing is I get a small pension around $25K/year, and it has some medical insurance coverage - the big question is how much it will cost me.
 
Diver said:
We hope to make the Class of 2016, when we will be 54 and 55. We are hopeful we will be FI by then, but want to do alot of travel up front, so we may stay on our gerbil wheels at megacorps for a year (or two?) extra to save up some play money to use for travel, and then RE. Time and the markets will tell.

We think we will need to pull about $50k after taxes from the portfolio (funny how many people have similar numbers), but this may be above the 3% withdrawal rate some of you are planning. How comfortable would you be to pull 5% from the portfolio starting at 54 & 55 until SS kicks in for us both at 62, and then reduce the portfolio withdrawal by the SS amount? We should each get about $20k/year from SS at 62 based on current projections.

This is such a fabulous forum full of great stories and great wisdom, and I am truly inspired by you all. I have been reading here and drawing inspiration for several years.
Click to expand...

I have a similar situation, however DW just went back to work and wants to work for a few more years (80%, as a school teacher). Before she went back to work, I was looking at a greater than 4% draw down, but was willing to burn through more savings to hit SS later. My situation is more complicated, slightly, in that once I retire (class of '16 :dance:) we will relocate to Switzerland (that is where the DW works). I have some additional expenses, and some "unknowns" as well.
On point, it MAY be better to wait until 66 if you can, as there is a hefty bump to SS by waiting, but this is just a math problem, with a nod to your comfort level burning through savings and expecting SS safety net to be there.
 
spring of 2016 for me... will be 55 and have some incentives to stay until then... generally happy with my job with flashes of insanity and ridiculous stress. Have reached FI (yea) and looking forward to the next chapter of life
 
FUEGO said:
Similar to your numbers, maybe a tad less spending. Simple math to do $50,000 divided by say 3.5% withdrawal rate to get $1.43 million required portfolio. This isn't the exact spending or portfolio size or withdrawal rate I have in my plans but roughly similar.

Some here are comfortable ER'ing on less than a million. Others don't feel comfortable with many millions, a pension and/or Social Security.
Click to expand...

My math is not good if I want 30,000 at 3.0% how much would I need to save
 
I did all kinds of FireCalc calculations and it gives me 100% success ratio if I work 2 more years. That's assuming stock & bond market do not collapse at the same time. I will put a stake in the ground for 2016 as the year I call it quits from work.
 
Count Me In for ER in 2016

Planning to retire June 30, 2014 at age 55. Have a good investment portfolio, allowing me to draw 3% a year plus a nice teachers retirement pension.
 
update

I am moving my date forward from Sept 2016 to mid June 2016. :dance:

It just made sense.
 
scrow595 said:
Planning to retire June 30, 2014 at age 55. Have a good investment portfolio, allowing me to draw 3% a year plus a nice teachers retirement pension.
Click to expand...

Perhaps you should post this in the class of 2014 then.....
 
On track

Currently planning to retire in late 2015 before October when I turn 55. Wife and I would like to travel in our RV, car or by air chasing crisp cool fall weather through out the country. Maybe see a little snow before returning to Texas for a mild Christmas. Feel blessed that I still enjoy working at the company I have been at for 25 years but feel at that point it will be time to move on to the next act of my life. Which I often refer to as "my second childhood"
 
Would like to be class of 2015 but 2016 is probably the more likely scenario
 
Add me to the Class of 2016

My current retirement date is March, 2016. My husband, who is 3 years older than me, will retire at the same time. I am vested in a defined benefit plan which will provide the income I believe we can comfortably live on. In addition we have substantial savings in 401k and 457 plans. We are considering moving from San Diego to perhaps Oregon or another retirement residence. We LOVE the outdoors; hiking, rafting, kayaking, biking etc. It is way too expensive and crowded here for us. The next year will involve:
1. Tracking expenses.
2. Visit to the FP for a checkup.
3. Light remodeling for current home to prepare for selling.
4. Decrapifying and distribution of grown children's belongings and mementos.
5. Trying to survive my current employment for 2 more years without going insane.

Fortunately my DH loves his job right now.
I am loving this site so far. There is an amazing amount of info here.

Woo hoo! Class of 2016!
 
Last edited:
SDHiker said:
My current retirement date is March, 2016. My husband, who is 3 years older than me, will retire at the same time. I am vested in a defined benefit plan which will provide the income I believe we can comfortably live on. In addition we have substantial savings in 401k and 457 plans. We are considering moving from San Diego to perhaps Oregon or another retirement residence. We LOVE the outdoors; hiking, rafting, kayaking, biking etc. It is way too expensive and crowded here for us. The next year will involve:
1. Tracking expenses.
2. Visit to the FP for a checkup.
3. Light remodeling for current home to prepare for selling.
4. Decrapifying and distribution of grown children's belongings and mementos.
5. Trying to survive my current employment for 2 more years without going insane.

Fortunately my DH loves his job right now.
I am loving this site so far. There is an amazing amount of info here.

Woo hoo! Class of 2016!
Click to expand...

Looks like a great plan for the next year. Pretty much identical to what I'm working on. The northwest is an awesome place to live if you want access to the outdoors. Be sure to check out the Alpine Lakes Wilderness and Goat Rocks Wilderness areas in the central Washington Cascades. I love backpacking there and hope to do a lot of it during retirement.

You mention moving to Oregon. Something to consider - Washington doesn't have an income tax like Oregon does which can have an affect on your retirement withdrawals. And... if you live just across the border from Oregon you can drive over to Oregon to make your larger purchases and save on the WA sales tax. Oregon is a great state also (we lived there 30 years), just some financial things to consider.

Good luck on achieving your goals. Unfortunately I may be moving my date to mid 2017. Which is difficult since I too am trying to survive my current job.
Dan
 
I was thinking the same. Still early June for me, although zi am open to shaving a month or so off if the BS gets too much and my portfolio does better than anticipated!
 
Still on Track

Still planning on March 2016. We see our financial advisor on Wednesday and hope he has good news for us. In the meantime, I have plugged our current numbers into firecalc with the projected date and it seems we can have the income we need and never "fail" based on their criteria. Good news, but weird to realize we might actually be able to retire. It's actually a little scary. I will update after the appointment.;)
 
Not really sure yet but most likely year to pull the trigger is 2016. Feels good to list a year as a reference point. Really depends on how things go at work, family needs and what my investments do. Based on Firecalc I could pull the trigger now but want to build in a little thicker cushion.


That alone probably would not keep me working. My position is as a director. Work is at a critical juncture not just for me but for at least 50 other colleagues and employees that trust and depend on me. Have worked with mostly the same staff for 20+ years so the option of bailing on them now would not be palatable. By 2016 or sooner the current issues should be resolved. Fingers crossed that this round of chaos does not make me leave on a low note or make it even harder for me to leave. Also I turn 59.5 in spring 2016 which makes much more of my portfolio available.
 
So in 2011 I posted this:
arebelspy said:
I'm debating being class of 2015 and 2017, will depend on how some things go over the next few years, so 2016 would be my average ER class. ;)
Click to expand...

In 2012:
arebelspy said:
2017 is my most likely class at this time.

Could be sooner, or could hit "one more year syndrome," but looking like June 2017 for me. Just under 5 years to go. I bet it'll fly by.
Click to expand...

In 2013, I didn't post on the topic, but I'd have said 2017 still. Now in 2014, I'm back to my guess of 2016, and it's looking like that's about 90% to happen.

Just two more years. It'll fly by, considering only two years left and this thread was started about three years ago! :dance:
 
dand76 said:
Looks like a great plan for the next year. Pretty much identical to what I'm working on. The northwest is an awesome place to live if you want access to the outdoors. Be sure to check out the Alpine Lakes Wilderness and Goat Rocks Wilderness areas in the central Washington Cascades. I love backpacking there and hope to do a lot of it during retirement.

You mention moving to Oregon. Something to consider - Washington doesn't have an income tax like Oregon does which can have an affect on your retirement withdrawals. And... if you live just across the border from Oregon you can drive over to Oregon to make your larger purchases and save on the WA sales tax. Oregon is a great state also (we lived there 30 years), just some financial things to consider.

Good luck on achieving your goals. Unfortunately I may be moving my date to mid 2017. Which is difficult since I too am trying to survive my current job.
Dan
Click to expand...


Unfortunately, dand76 is right. Both Oregon and California are very tax unfriendly states for retirees. But Washington has no state income tax at all. I'm glad I relocated to PA 15 years ago. I didn't know how tax friendly we are. Higher but not high property taxes, and my IRA withdrawals won't be taxed unless I take a lot out. And Washington is beautiful. Been there many times to see family.
 
You must log in or register to reply here.

Similar threads

C
Mutual fund portfolio matrix tool
Replies
8
Views
435
target2019
target2019
S
Any cheese makers here?
Replies
18
Views
588
Koogie
Koogie
J
Gold - 13 year cup and handle breakup
Replies
21
Views
2K
Koolau
Koolau
The Cosmic Avenger
Applying for Citizenship by Descent
2
Replies
45
Views
2K
rodi
rodi
W
Anyone one with separate trusts?
Replies
0
Views
183
Wupot2020
W

Latest posts

Back
Top Bottom