Williston
Confused about dryer sheets
Hi,
I'm new here, and though I've been going through and reading quite a few older posts to try and educate myself, I really don't understand much of the math. So it seems like the best way to get involved is to lay out my situation, which is as follows:
I'm 61 and still working; my wife is 65 and also still working (so really not an early retirement person).
Current circumstances (with rounded figures):
Combined yearly income: $200,000
Total cash available: $130,000
Total IRA+401k: $950,000
Total non-IRA investments: $466,000
Home Equity (est.): $350,000-$400,000
Our portfolio (handled by a fee-based advisor) is about 60% mutual funds/40% bonds.
Social Security will pay a combined $48,000/yr beginning in 2014...if we take it then and I imagine we will.
Our current expenses are approximately $100,000/yr including health insurance, Medicare and medical co-pays/pharmacy.
This total does not include taxes.
We are hoping to retire at the end of 2013 and are looking at a budget of $80,000-95,000.
I've played around with Firecalc—and while I'm not the best with numbers everything seems to work out well with between 95-100% success rates. I have a pretty low confidence in what I'm doing there though.
So I'm just looking for thoughts and any input into what we are planning.
Let me know if there is something more I should add.
Thanks for checking this post out,
Williston
I'm new here, and though I've been going through and reading quite a few older posts to try and educate myself, I really don't understand much of the math. So it seems like the best way to get involved is to lay out my situation, which is as follows:
I'm 61 and still working; my wife is 65 and also still working (so really not an early retirement person).
Current circumstances (with rounded figures):
Combined yearly income: $200,000
Total cash available: $130,000
Total IRA+401k: $950,000
Total non-IRA investments: $466,000
Home Equity (est.): $350,000-$400,000
Our portfolio (handled by a fee-based advisor) is about 60% mutual funds/40% bonds.
Social Security will pay a combined $48,000/yr beginning in 2014...if we take it then and I imagine we will.
Our current expenses are approximately $100,000/yr including health insurance, Medicare and medical co-pays/pharmacy.
This total does not include taxes.
We are hoping to retire at the end of 2013 and are looking at a budget of $80,000-95,000.
I've played around with Firecalc—and while I'm not the best with numbers everything seems to work out well with between 95-100% success rates. I have a pretty low confidence in what I'm doing there though.
So I'm just looking for thoughts and any input into what we are planning.
Let me know if there is something more I should add.
Thanks for checking this post out,
Williston