Hello,
I have been a lurker for a while now. I would love to get some advise.
I am a 47 yo SAHM
My DH is 52
We have 2 sons in college with a monthly expense to us of $1800 for their support. One is almost done and the other is a sophomore. We have a daughter that is a sophomore in high school. We currently live in Florida but we have no family on this side of the U.S. so we would like to retire out west. Arizona, Utah, or Nevada.
We are spending about $150K a year right now but that will drop after we get the boys off the payroll.
DH would like to retire in the summer of 2017. We are both scared to death to lose that steady income stream and worried about the future of health care/cost. Not to mention everyone he tells this too tells him he's crazy to walk away from his income.
Here is our financial scenario...
Right now we have...
Cash $738K
Stocks $834K
Traditional IRA $151K
403 (b) $265K
We also have a Senior Executive Retirement Plan that should be worth approximately 1.5 M by 2017. We can’t touch that until DH is 62.
We are planning to add at least another $400K to our cash by 2017.
SO first of all....I know we have way too much cash just sitting there and we want to invest in some dividend earning stocks. We were thinking T, PG, Merck, GE, MCD, MSFT. SO how much do you leave in cash?
So do you think we are going to be able to make our goal of retiring in 2017?
Thank you, in advance for your expertise.
Ellen
I have been a lurker for a while now. I would love to get some advise.
I am a 47 yo SAHM
My DH is 52
We have 2 sons in college with a monthly expense to us of $1800 for their support. One is almost done and the other is a sophomore. We have a daughter that is a sophomore in high school. We currently live in Florida but we have no family on this side of the U.S. so we would like to retire out west. Arizona, Utah, or Nevada.
We are spending about $150K a year right now but that will drop after we get the boys off the payroll.
DH would like to retire in the summer of 2017. We are both scared to death to lose that steady income stream and worried about the future of health care/cost. Not to mention everyone he tells this too tells him he's crazy to walk away from his income.
Here is our financial scenario...
Right now we have...
Cash $738K
Stocks $834K
Traditional IRA $151K
403 (b) $265K
We also have a Senior Executive Retirement Plan that should be worth approximately 1.5 M by 2017. We can’t touch that until DH is 62.
We are planning to add at least another $400K to our cash by 2017.
SO first of all....I know we have way too much cash just sitting there and we want to invest in some dividend earning stocks. We were thinking T, PG, Merck, GE, MCD, MSFT. SO how much do you leave in cash?
So do you think we are going to be able to make our goal of retiring in 2017?
Thank you, in advance for your expertise.
Ellen