Huston55
Thinks s/he gets paid by the post
Well, I've actually been on the forum for a few months, not really lurking 'in the dark' per say; I've posted a few times to threads I found interesting or where I thought I could contribute. But, I realized that I hadn't formally introduced myself and thought it was appropriate to do that.
I'm 56 this month and DW just turned 54. I still work but, DW no longer does. I've moved my entire life, 32 times thus far (the last ~16 with DW), grew up as an Army brat, went into the Air Force (6 yrs active & 17 yrs reserve), and have worked for an engineering and construction company for the past 27 yrs. DW and I currently live in eastern Tennessee.
We've lived in some very nice places and some 'interesting' places; I like new experiences (must have caught the travel bug as a kid) so, even the 'interesting' locations hold some value for me. But, as has likely happened for many of you, I/we have lived in a few places that we long to return to -and which top our retirement locations list. Those places include: San Francisco; Cocoa Beach, Fl; and Hawaii (favorite is Maui). We've lived in Europe and, I could definitely retire for the first few years overseas but, DW is not so inclined. Our top retirement location criteria are: warm, beach, low cost of living, easily accessible community, and probably a bunch of other stuff if I was King.
We've been pretty good at LBYM, while still enjoying life along the way with a nice trip or two each year. I currently qualify for retiree medical benefits from my company ( 55 yrs age & 10 yrs service) although it's expensive, and will qualify for Tricare at 60 (I think I can also pay a higher premium at <60 and get Tricare coverage). After 65, it's Medicare with Tricare as supplemental coverage. I will also get an AF Reserve pension at 60 (~$20k/yr), and have maxed out SS, which I get at 66+yrs. Our savings (low seven figures) will have to provide the remainder of income. I use Fidelity Retirement Planner, which says we can retire now. I've used the free version of Firecalc and would be interested in views on how it compares to the Fidelity tools.
Even though the tools are saying we can retire, I have to admit the prospect makes me nervous. After being almost completely absorbed by a career for 33 yrs, I wonder about being bored and all the other mental stuff that goes with that transition. I read Joe Dominguez's book years ago and just finished Bob Clyatt's "Work Less, Live More.". Lots of good advice in them but, I can tell I have more 'mental' work to be ready to retire.
Subjects that I'd like advice on include:
1. Ways to ensure income for essential expenses (immediate annuities, etc)
2. Strategies for the withdrawal phase during retirement.
3. Tips on where to find the perfect low cost beach community with great weather all year.
4. Strategies you've used to make the transition from work to semi- or full retirement smoothly, both financially and mentally.
I've already benefitted from several threads in the few months I've been on the forum, and I'm looking forward to getting and sharing more knowledge and experience with you in the future---as I work to make the leap to being FIREd!
I'm 56 this month and DW just turned 54. I still work but, DW no longer does. I've moved my entire life, 32 times thus far (the last ~16 with DW), grew up as an Army brat, went into the Air Force (6 yrs active & 17 yrs reserve), and have worked for an engineering and construction company for the past 27 yrs. DW and I currently live in eastern Tennessee.
We've lived in some very nice places and some 'interesting' places; I like new experiences (must have caught the travel bug as a kid) so, even the 'interesting' locations hold some value for me. But, as has likely happened for many of you, I/we have lived in a few places that we long to return to -and which top our retirement locations list. Those places include: San Francisco; Cocoa Beach, Fl; and Hawaii (favorite is Maui). We've lived in Europe and, I could definitely retire for the first few years overseas but, DW is not so inclined. Our top retirement location criteria are: warm, beach, low cost of living, easily accessible community, and probably a bunch of other stuff if I was King.
We've been pretty good at LBYM, while still enjoying life along the way with a nice trip or two each year. I currently qualify for retiree medical benefits from my company ( 55 yrs age & 10 yrs service) although it's expensive, and will qualify for Tricare at 60 (I think I can also pay a higher premium at <60 and get Tricare coverage). After 65, it's Medicare with Tricare as supplemental coverage. I will also get an AF Reserve pension at 60 (~$20k/yr), and have maxed out SS, which I get at 66+yrs. Our savings (low seven figures) will have to provide the remainder of income. I use Fidelity Retirement Planner, which says we can retire now. I've used the free version of Firecalc and would be interested in views on how it compares to the Fidelity tools.
Even though the tools are saying we can retire, I have to admit the prospect makes me nervous. After being almost completely absorbed by a career for 33 yrs, I wonder about being bored and all the other mental stuff that goes with that transition. I read Joe Dominguez's book years ago and just finished Bob Clyatt's "Work Less, Live More.". Lots of good advice in them but, I can tell I have more 'mental' work to be ready to retire.
Subjects that I'd like advice on include:
1. Ways to ensure income for essential expenses (immediate annuities, etc)
2. Strategies for the withdrawal phase during retirement.
3. Tips on where to find the perfect low cost beach community with great weather all year.
4. Strategies you've used to make the transition from work to semi- or full retirement smoothly, both financially and mentally.
I've already benefitted from several threads in the few months I've been on the forum, and I'm looking forward to getting and sharing more knowledge and experience with you in the future---as I work to make the leap to being FIREd!