Want to Retire Not Sure Wife and I have enough

[Golfer]

Just wanting to here from the community on their take if wife, and I are in good shape to retire next year she is 56 and I am 53. We have approximately 1.3 million saved that is distributed in fixed, variable and conservative equity stocks such as Con Edison of New York, and PIMCO funds. About 75% is in the fixed annunities. The fixed annunties mature in 2013 right now giving 4% return. We have two small pensions that will give about 15K in 2019 and and wife is 56 so will start to collect SS which is about 20K per year in 2016.
Our expenses are about 55,000 per year including health care costs.
Looking to retire in 2011.
Please comment thanks.

 

[omni550]

Welcome, Golfer!

I'd suggest running your numbers through FIRECalc: A different kind of retirement calculator

omni

 

[Golfer]

yeah I did firecal said we had a 100% chance of success for 30 years

 

[REWahoo]

You say you have health care included in your budget, indicating you know not only the cost, but that you will actually be able to get coverage for both you and your spouse. If that is the case and your FIRECalc numbers look good, I'd say your retirement is a go.

Enjoy!

 

[Midpack]

Looks good on paper, seriously. Next challenge is figuring out what you're going to do all day once the novelty wears off, and then actually pulling the trigger. If you've got that figured out, it sounds like you're good to go, congrats!