JayNak
Confused about dryer sheets
Trying to answer the question; can I retire now?
Age: 52
Status: Married, spouse retired, is 60 and gets about $900/mth pension (sp) from her ER at 55. I am on her medical which knocks her pension down to about $700/mth clear. Apparently, I can be on her medical until I am 65. No dental or vision on this medical.
House: Free and clear and worth about $175,000. Its a house we really like and want to keep.
Savings: About $103,000 cash
IRAs: About $20,000
CDs: About $28,000
401K: Mine at $480,000 my wife's about $40,000
Cars: 3, all paid off, 2 are over 80,000 miles and 1 is over 200,000
Other Assets: Land worth at least $40,000, boat: $2,500, cycle: $1,000, ATV: $2,500
I do have a frozon pension that should pay me $2,300/mth when I retire which I believe could be as soon as age 55 to collect this pension.
Property taxes currently less than $4,000/yr
Utilities; electric, gas, cable, internet, etc. estimated at $500/mth worse case.
Food: Call it another $500/mth.
Currently working at a high stress job (I.T.) that I hate that is a one-way commute of 61 miles.
Questions:
1. Based on my assets and expenses, do you think I could do ER right now at age 52?
2. Any part-time home-based businesses that people would recommend? I live in central Wisconsin, so it might be best to be Internet based.
3. Obviously, home care and an occassional vehicle would be needed, what other major non-medical expense should I worry about?
Age: 52
Status: Married, spouse retired, is 60 and gets about $900/mth pension (sp) from her ER at 55. I am on her medical which knocks her pension down to about $700/mth clear. Apparently, I can be on her medical until I am 65. No dental or vision on this medical.
House: Free and clear and worth about $175,000. Its a house we really like and want to keep.
Savings: About $103,000 cash
IRAs: About $20,000
CDs: About $28,000
401K: Mine at $480,000 my wife's about $40,000
Cars: 3, all paid off, 2 are over 80,000 miles and 1 is over 200,000
Other Assets: Land worth at least $40,000, boat: $2,500, cycle: $1,000, ATV: $2,500
I do have a frozon pension that should pay me $2,300/mth when I retire which I believe could be as soon as age 55 to collect this pension.
Property taxes currently less than $4,000/yr
Utilities; electric, gas, cable, internet, etc. estimated at $500/mth worse case.
Food: Call it another $500/mth.
Currently working at a high stress job (I.T.) that I hate that is a one-way commute of 61 miles.
Questions:
1. Based on my assets and expenses, do you think I could do ER right now at age 52?
2. Any part-time home-based businesses that people would recommend? I live in central Wisconsin, so it might be best to be Internet based.
3. Obviously, home care and an occassional vehicle would be needed, what other major non-medical expense should I worry about?