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I'm retiring in one month and wife doesn't work. We're both 55 yo. One of the ideas I have long dreamed about is the freedom and leverage that being unencumbered by work will provide in terms of last minute travel deals. I always get these airline deals in my email with crazy low fares but they...

You have way more money than you need to retire. Is it actually in CASH? You need to get to some sort of balanced portfolio like 40-60% Equity Index Funds though.

When you turn 65 and go onto Medicare you should probably go with original Medicare as opposed to Medicare Advantage because you will have nationwide coverage and won’t have to worry about getting sick on the road when you’re performing and the geography thing in your city/state won’t be a problem.

I am retiring end March and will be juicing my contribution rate for 2022 to 40% in order to achieve a maximum contribution for the year. I expect my federal tax bracket to be 12% in retirement (beyond next year) versus 22% in 2022, so the extra contributions will generate a 10% tax savings...

Your honesty is refreshing. I am the same way. I've always leaned to the lazy end of the spectrum from when I was a kid in high school. I had a hell of a time motivating myself to do homework.

Maybe he enjoys moping around the house ?. My Dad made a whole seemingly happy existence in retirement reading books in bed and watching TV in his underwear

Withholdings are not relevant to the tool inputs. Your withholdings are ultimately not what drives your tax expense since you can get a refund for an over withholding. The tool makes its own calculation on the federal tax liability based on your calculated withdrawals from pre-tax accounts.

I believe this has to do with an assumption built into the tool that medical expenses will grow faster than inflation. This causes the "today's dollars" values to inflate since they are going up in real terms.

Most tools of this type rely on probabilistic evaluations. In other words, how likely are you to not run out of money based on your inputs. The key is to take the time to really analyze your planned spending level in as much detail as possible and to add some level of spending for...

This post is priceless. An actual case study that proves the wisdom of not waiting until your 60s to retire even with a major financial crisis thrown in to the equation in the early years of retirement!

Great news Kaudrey! The water's warm here in the Feb pool! Actually, my date might slide to March depending how flexible my employer is with finishing out my career using my 2022 vacation and floating holidays. Ideally I want to make my termination date April 1st, but my last "work" day 2/23...

Ha so basically you have so damn much money it doesn't matter!

I’m retiring at age 55 next Spring and I’m working a much tighter plan in terms of withdrawal rate so DIY is more of a necessity to optimize returns. My point with your situation is that you can afford a higher level of care so to speak. The extra return on those 80 bps won’t make much...

OP,, I’m a big advocate of DIY but at your level of wealth I would be more or at least equally concerned with the possibility of declining faculties over the years and less about paying 80 basis points to a trusted FA.

Yes I really enjoyed reading your post thanks. The social aspect of your new place sounds great and is a big part of what I’d like to have in our next location. It seems these Florida-like HOA setups are better than apartment buildings in that regard but I’d never want to live in Florida or...

Yeah, this whole plan is contingent on them actually getting jobs and moving out so it's not etched in stone. Have yours all flown the coop now?

Thanks for this. You've tapped into my #1 stressor when it comes to entering retirement. I really worry how little we know about our future spending. Of course, a lot of this is discretionary stuff, but I don't want to feel like a miser all the time.

Most of Delaware is pretty rural other than Wilmington which is not my cup of tea

Yes, we're 15 mins from Philly. We pay 11k property tax on our 430k market valued home. The tax situation in PA is definitely attractive once we're no longer W-2 wage earners. We were thinking maybe Ardmore or possibly even Philly proper (Rittenhouse Square, Art Museum, Manayunk).

I expect that we will need a few years as well to understand what we really want and what we want is likely to evolve over the years as well.

Thanks for these suggestions. Some things to consider for sure. I'm no stranger to cities but I suppose it's different living in one than day tripping.

I’m 100% sure we don’t or need “stuff”. Regarding space, it’s possible we might end up feeling too cramped but only one way to find out hence rent instead of buy.

The stuff you mentioned about walkable versus 15 min drive to everything is the key for us. We want to ditch one of the cars and do the bulk of our daily commerce within walking distance.. also to take advantage of cultural activities like museums in walking distance would be a major plus l.

Hi chassis - thanks for the reply. Regarding the features and cost that you’re questioning can you expand on this? Are you saying we can’t find something for 3k per month? I think from the informal browsing I’ve done that 3k would get us something suitable

Wow, great callout! I had no idea of this rule. As of April or May, I'm planning to move onto my Megacorp retiree health insurance which does not feature an HSA option. Now that I am aware of this, I will probably just change my plan away from HSA to traditional Network plan for 2022 during...