Hello, I'm originally from England and have been living in the US for 34 years, and San Diego for the last 16 years. I've been divorced for over 10 years, no kids and reached the grand old age of 60 last Dismember. I'm pretty frugal - driven a 2003 Forester from new, cook most everything I eat, bag it to work, etc. I worked out that after I pay off the mortgage, I could probably live on social security which'll be $1963 at 63. After saving my max for a couple of decades, my TA sits around 1.9M less 103K owed on the mortgage, thus NAV 1.8M - with the house representing 500K. Post tax savings and Roth represent around 300K, plus another 1M pre-tax. Overall balance is 55% stocks, 25% bonds, 20% short term - probably need to work on that!
I've suddenly got it into my head that I should cut ties with MegaCorp - in spite of their more than generous 101K salary. Fidelity's Income Planner says that with expenses of $4000/m (a number I've seen bandied around on this forum, but more than I would ever spend) there's a 90% probability that I'll have 2M (+house) at age 90. Firecalc gave me a success rate of 99.1% - but I'm not sure if that takes into account social security?
So I'm teetering. What's always held me back is HI. I think COBRA would run me around $380/m, but now with PPACA, it could run $51/m (646 - 595 tax credit if I keep my 'income' around 16.6k pa ... CoveredCA.com). I've also been oogling houses in England on Zoopla; there I would have access to the NHS fwiw (I think it's worth a lot!), but I wouldn't necessarily have the ocean view! I wonder if I could be reabsorbed into the community after so long? I guess over here people retire to different communities all the time and mostly get absorbed, don't they? Of course, I'm not too sure of any tax implications, so I'm planning to do due diligence on a trip later this year.
I guess I'm looking for is some sort of nudge. Heck, there's a guy here at MegaCorp who's 68 and absolutely wedded to his desk, and thinks I'm crazy. Does 12/31/2013 sound like the date for me?
Anyway, thanks for listening!
I've suddenly got it into my head that I should cut ties with MegaCorp - in spite of their more than generous 101K salary. Fidelity's Income Planner says that with expenses of $4000/m (a number I've seen bandied around on this forum, but more than I would ever spend) there's a 90% probability that I'll have 2M (+house) at age 90. Firecalc gave me a success rate of 99.1% - but I'm not sure if that takes into account social security?
So I'm teetering. What's always held me back is HI. I think COBRA would run me around $380/m, but now with PPACA, it could run $51/m (646 - 595 tax credit if I keep my 'income' around 16.6k pa ... CoveredCA.com). I've also been oogling houses in England on Zoopla; there I would have access to the NHS fwiw (I think it's worth a lot!), but I wouldn't necessarily have the ocean view! I wonder if I could be reabsorbed into the community after so long? I guess over here people retire to different communities all the time and mostly get absorbed, don't they? Of course, I'm not too sure of any tax implications, so I'm planning to do due diligence on a trip later this year.
I guess I'm looking for is some sort of nudge. Heck, there's a guy here at MegaCorp who's 68 and absolutely wedded to his desk, and thinks I'm crazy. Does 12/31/2013 sound like the date for me?
Anyway, thanks for listening!