TravelinFamilyMan
Dryer sheet wannabe
Greetings,
Been enjoying this forum lately and decided to join.
I'm 53, wife is 49; kids are 18; 16 and 12. Oldest is starting out of state university in a few weeks.
Assets for retirement total $1.7 M in two Roths; two IRAs (from rollovers) and one 401(k). Assets outside of retirement funds - only about $10K. Asset mix is about 55% equity (18% overall Int'l equity); 35% bonds; 10 % cash or equivalents.
House is paid off, worth about $410K
529 Plan for college has $170K in assets; but college will run $33K / year for out of state tuition per year for child #1 (4 years total!)
Have HELOC with $72K balance that I have used to pay for large expenses as I max out my 401(k) and Roth contributions. Actually dipped into this for '15 Roth contributions as it is only costing me 4% APY and the interest is deductible.
Income from my single salary is $135K / year. Expenses are about $90K / year; including all taxes but does NOT including college tuition.
Social Security Benefits: Me: $2,831 / month at age 67; $3,520 at age 70; Wife: $1,200 / month at age 67; $1,500 at age 70.
Would like to RE soon - like in '17 especially if I get laid off and get a (small) package. Figure I could 72(t) out of one of the large accounts for $50K/ year income until 59 1/2.
Wildcard for me I believe is future college tuition costs. Welcome any ideas; I've ran through Fidelity RIP and the FIRE calculator - seems to give me about an 80% success rate to retire next year.
Thanks!!!
Been enjoying this forum lately and decided to join.
I'm 53, wife is 49; kids are 18; 16 and 12. Oldest is starting out of state university in a few weeks.
Assets for retirement total $1.7 M in two Roths; two IRAs (from rollovers) and one 401(k). Assets outside of retirement funds - only about $10K. Asset mix is about 55% equity (18% overall Int'l equity); 35% bonds; 10 % cash or equivalents.
House is paid off, worth about $410K
529 Plan for college has $170K in assets; but college will run $33K / year for out of state tuition per year for child #1 (4 years total!)
Have HELOC with $72K balance that I have used to pay for large expenses as I max out my 401(k) and Roth contributions. Actually dipped into this for '15 Roth contributions as it is only costing me 4% APY and the interest is deductible.
Income from my single salary is $135K / year. Expenses are about $90K / year; including all taxes but does NOT including college tuition.
Social Security Benefits: Me: $2,831 / month at age 67; $3,520 at age 70; Wife: $1,200 / month at age 67; $1,500 at age 70.
Would like to RE soon - like in '17 especially if I get laid off and get a (small) package. Figure I could 72(t) out of one of the large accounts for $50K/ year income until 59 1/2.
Wildcard for me I believe is future college tuition costs. Welcome any ideas; I've ran through Fidelity RIP and the FIRE calculator - seems to give me about an 80% success rate to retire next year.
Thanks!!!
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