atmsmshr
Full time employment: Posting here.
I have been lurking around the forum for over a year, trying to soak in the collective wisdom from the forum. THANK YOU - its been a good education for me to learn from all the reference links provided and your different perspectives to consider.
DW and I are 55, and plan to FIRE in 4- 5 years. While that is not 'early' by some standards set here, one of my goals was to have plenty of cushion in the bank as to never worry about working again. Another goal is to finish getting our 2 kids through school and pay off remaining loans. (I know enough people who have pulled the cord too early and suffer the price of poor judgement and negative sequence returns scenario)
DW and I are thinking of downsizing the house to pull up FIRE a year earlier. However, I have been mulling over the merits of keeping a mortgage and taking an annuity that would be more than covered by my cash balance pension (with enough left over for property taxes which are partially capped). The mortgage is a 3.3% note with 25 years left and the pension annuity is 6% (no inflation rider).
Door number two is to sell the house and downsize with no mortgage. Then, either pension annuity or take the cash balance.
Forum thoughts?
DW and I are 55, and plan to FIRE in 4- 5 years. While that is not 'early' by some standards set here, one of my goals was to have plenty of cushion in the bank as to never worry about working again. Another goal is to finish getting our 2 kids through school and pay off remaining loans. (I know enough people who have pulled the cord too early and suffer the price of poor judgement and negative sequence returns scenario)
DW and I are thinking of downsizing the house to pull up FIRE a year earlier. However, I have been mulling over the merits of keeping a mortgage and taking an annuity that would be more than covered by my cash balance pension (with enough left over for property taxes which are partially capped). The mortgage is a 3.3% note with 25 years left and the pension annuity is 6% (no inflation rider).
Door number two is to sell the house and downsize with no mortgage. Then, either pension annuity or take the cash balance.
Forum thoughts?