CardsFan
Thinks s/he gets paid by the post
I am a long time lurker (4+ years) that finally decided to drop in and say Hi.
DW and I are 59yo. DS is 33 and independent. I am an engineer by education, working now in project management. I have been with my current employer for 26 years. While I haven't left the company in that time, I have been through ownership by 4 Megacorps and 3 private equity firms. The more things change the more they stay the same. Planned RE date is end of August 2015 (60th birthday). DW is already semi-retired, working as a substitute teacher.
So, here we go with the financial stuff. In round numbers:
Retirement Accounts
IRA's: $1,200,000
401k: $565,000
After tax account: $735,000
Total: $2,500,000, AA: 65/35 stocks/bonds
Cash: $245,000
Condo: $160,000 (no mortgage)
My SS at FRA (66.2): $30,000/yr (DW will take 1/2 of mine at about the same time)
On the expense side:
3 year average (excluding HI, Taxes, and one time expenses): $65,000
Includes 2-3 vacations plus 3-5 long weekends per year
Subsidized HI available. Cost still not finalized, as current megacorp just changed carriers, but will about $8,000/yr.
So, planning on expenses of $65,000+10,000(HI)+10,000(taxes)=$85,000
I am conservative by nature so I only use the retirement accounts and my SS for retirement calculations. Cash, DW's SS, and potential inheritance are icing on the cake. Firecalc says I am all set, with room to spare.
The current job is not bad (has lots of international travel, which I kind of enjoy), and my salary is pretty good, but I am looking forward to a new stage in my life. Got a new travel trailer and looking to put some miles on it!
Looking forward to joining the conversations here!
So, Are we there yet!!
DW and I are 59yo. DS is 33 and independent. I am an engineer by education, working now in project management. I have been with my current employer for 26 years. While I haven't left the company in that time, I have been through ownership by 4 Megacorps and 3 private equity firms. The more things change the more they stay the same. Planned RE date is end of August 2015 (60th birthday). DW is already semi-retired, working as a substitute teacher.
So, here we go with the financial stuff. In round numbers:
Retirement Accounts
IRA's: $1,200,000
401k: $565,000
After tax account: $735,000
Total: $2,500,000, AA: 65/35 stocks/bonds
Cash: $245,000
Condo: $160,000 (no mortgage)
My SS at FRA (66.2): $30,000/yr (DW will take 1/2 of mine at about the same time)
On the expense side:
3 year average (excluding HI, Taxes, and one time expenses): $65,000
Includes 2-3 vacations plus 3-5 long weekends per year
Subsidized HI available. Cost still not finalized, as current megacorp just changed carriers, but will about $8,000/yr.
So, planning on expenses of $65,000+10,000(HI)+10,000(taxes)=$85,000
I am conservative by nature so I only use the retirement accounts and my SS for retirement calculations. Cash, DW's SS, and potential inheritance are icing on the cake. Firecalc says I am all set, with room to spare.
The current job is not bad (has lots of international travel, which I kind of enjoy), and my salary is pretty good, but I am looking forward to a new stage in my life. Got a new travel trailer and looking to put some miles on it!
Looking forward to joining the conversations here!
So, Are we there yet!!
