2nd check with the fine folks here

[stepford]

The way I see it is that at age 53, I am terminally ill and will only have 35 years left to live .

Yep, Our friend Jim from the 27-club said it best: "No one here gets out alive".

I'm sure any one of us could use an extra million bucks (or pick whatever amount equates to a few more punishing years), but as I get ever closer to blast-off I become ever more convinced that the time to live your life is now, whether you have those last few toys or not.

 

[OrcasIslandBound]

Just sat next to a lady on a flight to Atlanta who was widowed last year. Husband died suddenly of a heart attack while she was away. She found him when she got home. He was 59. He retired 2 years earlier. She was very glad he got two years of retirement.

Sent from my Nexus 4 using Early Retirement Forum mobile app

 

[robnplunder]

It is important to input the mortgage separately rather than include your mortgage payments as part of your spending. If it is in spending it get increased for inflation each year and continues in perpetuity. If it is separate then it is a fixed amount per year for the remaining term. The different approaches can make a big difference in your success rate.

This reminds me. Every time I make a mortgage payment, I am adding to the existing equity value (about $10k and increasing). If I account for that, my yearly expense will go down further to $82k.

 

[daylatedollarshort]

This reminds me. Every time I make a mortgage payment, I am adding to the existing equity value (about $10k and increasing). If I account for that, my yearly expense will go down further to $82k.

Have you looked at renting your house out instead of moving? I've run the numbers and we would come out ahead if we did that at current rental rates instead of selling.

We also realized that by moving we would only really save on the mortgage interest. Principal payments wouldn't change our net worth and property taxes would not go down much, if they went down at all, and might go up depending on the county we moved to because of Prop 13.

 

[robnplunder]

Have you looked at renting your house out instead of moving? I've run the numbers and we would come out ahead if we did that at current rental rates instead of selling.

I did and I'd come out ahead. But, I am too lazy to make this option work. I don't want to deal with renters, and what comes with renting a house out. I do not want unnecessary worries in my retirement.

Here's my updated numbers.

• 1.86M in investment asset (mutual funds, cash) that averaged 6% yearly return in the last 10 years.
• $600k in house equity.
• 2 year old car with 8 year full warranty remaining. I.e, no need to buy a new car for another 8+ years.
• $90k yearly budget with $14k in "misc" category. Can be used for traveling, and other fun stuff.
• $10k being added to house equity per year.

I know this may be still viewed as risky by some in this forum but I can make it work. If not, I know how to LBYM well.


I realize that this thread has turned from asking for input to assuring myself that I can retire. Please keep the input, advice coming. I am so very close (and happy) to turn in my resignation that I may not be in a state of mind to think objectively to understand all the risks.

 

[clifp]

I think it would only be risky, if elected to stay in the Bay Area. I loved the Bay Area, but one of the advantages of the place is that even when moving to a place that most people consider crazy expensive i.e. Hawaii everybody place (except for NYC) seems cheaper.

It's not just housing, it is the extra couple of bucks on even coffee shop type restaurants, or the additional $10-40/hour you pay for plumbers, electricians, dentists, $5/day you pay more for parking at the Airport etc. etc. etc.

If you can move to $300K house you'd be good to go, I think.