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Old 11-12-2012, 06:49 PM   #161
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Current age: 58

Retired at 52 (thought it would be 57, but this forum convinced us that we were good to go)

Worked 28 years

No pension. Supporting self on mostly tax free interest from savings
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Retirement
Old 11-17-2012, 12:31 PM   #162
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Join Date: Oct 2012
Location: Reno
Posts: 555
Retirement

CA=54
RA=56/57
WY=30 + 6 1/2 time

Hope to modify employment to half-time at 56/57 and draw out at a low rate. Will qualify for retirement at 56 with health benefits.
If half time not practical will work another year or two. Plan to withdraw at 5% until SS kicks in, then reduce withdrawal rate to 3%. Calculations suggest we need an increase of 30-35% in portfolio to retire more than comfortably; could live on current amount after selling retirement home and downsizing.
I'm curious if anyone has withdrawn at higher rate until Social Security, which could be viewed as an annuity (and DW's SS will be higher although later). Also considering a delayed annuity for wife, who is likely to live longer, as another assured income stream, but there's a lot of time for considering this.
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Old 11-17-2012, 01:05 PM   #163
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I'm curious if anyone has withdrawn at higher rate until Social Security, which could be viewed as an annuity (and DW's SS will be higher although later).
Yes, we both are.

I retired at age 59 but don't plan on taking SS till age 70 (primarily for the benefit of DW).

DW retired this year (64) but will be delaying SS till FRA age of 66.

Since a great deal of our retirement assets are in tax-deferred instruments, it allows us to reduce our respective portfolio's, which in turn reduce the amount of "excess" RMD's at age 70.5. Excess RMD's mean withdrawls required by tax laws, not necessarily that we need the money.

In addition, it aids a bit in portfolio management since we will be "trading in" a good portion of our portfolio for a future inflation adjusted lifetime annuity - AKA SS.

Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.
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Old 11-21-2012, 06:21 AM   #164
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Yes, we both are.

I retired at age 59 but don't plan on taking SS till age 70 (primarily for the benefit of DW).

DW retired this year (64) but will be delaying SS till FRA age of 66.

Since a great deal of our retirement assets are in tax-deferred instruments, it allows us to reduce our respective portfolio's, which in turn reduce the amount of "excess" RMD's at age 70.5. Excess RMD's mean withdrawls required by tax laws, not necessarily that we need the money.

In addition, it aids a bit in portfolio management since we will be "trading in" a good portion of our portfolio for a future inflation adjusted lifetime annuity - AKA SS.

Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.
+1
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Old 11-21-2012, 01:29 PM   #165
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Originally Posted by rescueme View Post
Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.
Same for us. Fido RIP shows our w/d being >4% to start and ~2% later as we're collecting 2xSS and pension.
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Old 11-21-2012, 02:05 PM   #166
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Posts: 994
Current age: Me 54 and DW 50
Retirement age: Me 57 and DW 52
Years worked: Me 34 and DW 29
Pension: Me none and DW small non-COLA
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Old 11-21-2012, 02:40 PM   #167
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Join Date: Nov 2006
Posts: 213
Current age = 55
Retire at 55-58 as I decide
Worked full time 37 years, with 25 years of part-time (not counting 8 years small biz and 11 years night school)
Pension = yes, Military reserve at 60, COLA
Savings to be FI, no mortgage, debt
Three kids moved out and independent
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Old 11-24-2012, 04:18 PM   #168
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Join Date: Nov 2012
Location: Kearneysville
Posts: 53
Current age - 48 (wife 42, home maker, no income)
Retire Age - 60-62
Worked full-time for 25 years
Pensions (expected) - Army Reserve at 60 ($24,000 annually), Current employer ($60,000 annually if nothing changes), COLA for army
401K and Roth IRAs
Will have mortgage debt, one way or another

I may be able to retire sooner.....depends on how deep into 7 figures I can get my 401K
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Old 12-16-2012, 05:30 PM   #169
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Join Date: Jun 2009
Location: SoCal
Posts: 230
Current age: 40
Projected Retirement Age: 55-60
Working years: 37-42
Pension: World's smallest pension from my first employer ~$188/mo, ha ha.
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Old 12-16-2012, 05:36 PM   #170
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Current Age: 55
Retirement Age: 55
Total working years: 33
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Old 12-16-2012, 06:33 PM   #171
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Current Age: 56
Retirement Age: 60ish
Total working years: 33
Pension: Yes
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Old 12-16-2012, 08:12 PM   #172
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Current Age: 54
Retirement Age: 48
Total working years: 27
Pension: No
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Old 12-17-2012, 08:18 PM   #173
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Current Age: 47
Retirement Age: 58ish
Total working years: 25 so far
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Old 12-18-2012, 12:32 PM   #174
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Location: Indialantic FL
Posts: 1,196
Current age: 49 (DW 58)
Retirement age: 45 (DW 53)
Total working years: 25 + for both of us
Pension: Both of us have pensions
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Old 12-18-2012, 02:53 PM   #175
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Join Date: Jun 2012
Location: Austin
Posts: 245
Current Age: 52
Retirement Age: 54 (hopefully)
Years Working: 30

My retirement plan is simple. Draw 100% of my annual budget from after-tax investment accounts for the 8 years until I can draw SS which will comprise 35% of my annual budget and draw the other 65% from those same after-tax investment accounts for the next 7 years, at which time they will be depleted unless I realize more than my 0% annual growth estimate.

After that 15 year period, I'll then begin drawing from my tax-deferred investment accounts (which I'm estimating will have enjoyed 15 years of untouched growth at an annual average rate of 5%) till death do us part.
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Old 12-18-2012, 10:20 PM   #176
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Join Date: Dec 2012
Location: marys ille
Posts: 40
Current age: 61.5
Projected/goal retirement age: 62.5
Total working years : 45
I enjoy my job hope I don't miss it. Lots of outside interests.
Very small pension mostly self funded and real estate
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Old 12-24-2012, 12:28 AM   #177
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Join Date: Aug 2004
Location: Metro DC Area
Posts: 134
Age: 33
Retirement Age: 57
Years Working: 10
Pension: I'll have a pension equal to 1/3 of my salary.

I have been maxing out my 401k and Roth IRA for the past 10 years.
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Old 12-24-2012, 03:06 AM   #178
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Join Date: Jul 2008
Location: Sacramento area
Posts: 444
Current age is 58.75.
Retired at age 55.5.
Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college.
Pension status:
Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5%
DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide)
Me: Social Security disability of $29k / year
Investments of $500k + House of $350k
Zero debt

modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.
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Old 12-26-2012, 04:48 AM   #179
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Quote:
Originally Posted by AWeinel View Post
Current age is 58.75.
Retired at age 55.5.
Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college.
Pension status:
Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5%
DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide)
Me: Social Security disability of $29k / year
Investments of $500k + House of $350k
Zero debt

modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.
CalPERS seems to be in sound fiscal shape but, with the amount of Cali state debt, do you worry about your CalPERS pension?
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Old 12-26-2012, 06:42 AM   #180
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Quote:
Originally Posted by AWeinel View Post
Current age is 58.75.
Retired at age 55.5.
Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college.
Pension status:
Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5%
DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide)
Me: Social Security disability of $29k / year
Investments of $500k + House of $350k
Zero debt

modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.
Wow. Tempted to make editorial comments. Just let me say a lot of people would love to have that sort of income outside saving and investments. May I ask if you also get insurance?
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