Johanson
Recycles dryer sheets
Hi everyone. I'm new here as you can see. I'm single with adult children and I'll be 52 in November and will have 28 years with a mega corporation in October. I've been in my current position for 9 years now and it requires extensive travel. I cover the western 2/3 of the US and I'm usually on the road every week with a few breaks every couple of months where I catch up working at my home office.
I have a bit over $400K in my 401K, $11K in my ROTH IRA, my cash and carry pension is about $155k. I believe if I were to take it now with the annuity option, I would get about $800/month. It goes up 5% every year I wait to draw on it. If I wait to retire in 5 years, it will be about $210k or $1200/month. I really don't have any other savings.
So, I love my job. I'm a SME/technician that works with various branches and districts as needed and although my primary role is to deliver solutions, my secondary role is to mentor other technicians. I get paid overtime so any time working or traveling, including waiting in a Sky Club, is paid for. So are all of my meals and travel expenses. If it wasn't for my two dogs, I'd sell my house and rent a room from my son (my retired next door neighbor takes care of them).
Anyhoo, I don't really have any specific questions right now but I thought I'd introduce myself. I'd really like to retire in 3 or 4 years but may go as long as 5 or 6. I think I could retire at 55 but I'd also like to sell my low $200k house and buy a $300-400K house with some acreage on a lake in Northern MN and perhaps a small condo in FL. That is going to take a lot more than what I project I'll have at 55. Also, I'll be needing a new vehicle about then too.
Thanks for reading!
I have a bit over $400K in my 401K, $11K in my ROTH IRA, my cash and carry pension is about $155k. I believe if I were to take it now with the annuity option, I would get about $800/month. It goes up 5% every year I wait to draw on it. If I wait to retire in 5 years, it will be about $210k or $1200/month. I really don't have any other savings.
So, I love my job. I'm a SME/technician that works with various branches and districts as needed and although my primary role is to deliver solutions, my secondary role is to mentor other technicians. I get paid overtime so any time working or traveling, including waiting in a Sky Club, is paid for. So are all of my meals and travel expenses. If it wasn't for my two dogs, I'd sell my house and rent a room from my son (my retired next door neighbor takes care of them).
Anyhoo, I don't really have any specific questions right now but I thought I'd introduce myself. I'd really like to retire in 3 or 4 years but may go as long as 5 or 6. I think I could retire at 55 but I'd also like to sell my low $200k house and buy a $300-400K house with some acreage on a lake in Northern MN and perhaps a small condo in FL. That is going to take a lot more than what I project I'll have at 55. Also, I'll be needing a new vehicle about then too.
Thanks for reading!