Hi Everyone,
I've already introduced myself.......but would now like some advice and guidance.
I just turned 58 last month and my wife will be 57 this August. We have pretty much decided to call it quits at the end of 2008. I guess you could consider that retiring early, but there are many on this board that have retired sooner. Anyway, here are our particulars:
Total Current Investments: $1,100,000 allocated as follows:
12.5% Large Cap US (Vanguard S/P500)
12.5% Small Cap US (T.Rowe Price Small Cap)
12.5% Large Cap Foreign (Vanguard)
6.5% Emerging Markets (Vanguard EM)
6.0% Foreign Small Cap (MFS Small Cap-401K)
40% Vanguard Total Bond Fund
10% I-Bonds
We have no pensions, no debt besides our home mortage and no company provided health insurance after retirement (besides COBRA coverage). We are in pretty good health, but do take a number of maintenance drugs for high blood pressure and other issues.... none of them life threatening.
We would like to pay off our home at retirement. Current mortgage balance is about $100k. Home is valued at about $200k....we live in the Dallas area.
Current living expenses $42,000 (after tax)
We would like to do a lot of traveling after we hang it up..... We have already been to Great Britain, France, Italy, Greece, Belize, Guatamala, Mexico, US and British Virgin Islands, but there is still much of the world to discover (i.e., Asia, South America and Africa). I'm estimating an annual travel budget of between $10-20k. We would probably wear out the travel bug by the time we hit our mid 70's....
We would appreciate any comments relative to our current portfolio and our retirement plans.
My wife is telling me she is done at the end of 2008 come hell or high water! I'd like to quit now, just sick and tired of my current profession (legal).
Mike
I've already introduced myself.......but would now like some advice and guidance.
I just turned 58 last month and my wife will be 57 this August. We have pretty much decided to call it quits at the end of 2008. I guess you could consider that retiring early, but there are many on this board that have retired sooner. Anyway, here are our particulars:
Total Current Investments: $1,100,000 allocated as follows:
12.5% Large Cap US (Vanguard S/P500)
12.5% Small Cap US (T.Rowe Price Small Cap)
12.5% Large Cap Foreign (Vanguard)
6.5% Emerging Markets (Vanguard EM)
6.0% Foreign Small Cap (MFS Small Cap-401K)
40% Vanguard Total Bond Fund
10% I-Bonds
We have no pensions, no debt besides our home mortage and no company provided health insurance after retirement (besides COBRA coverage). We are in pretty good health, but do take a number of maintenance drugs for high blood pressure and other issues.... none of them life threatening.
We would like to pay off our home at retirement. Current mortgage balance is about $100k. Home is valued at about $200k....we live in the Dallas area.
Current living expenses $42,000 (after tax)
We would like to do a lot of traveling after we hang it up..... We have already been to Great Britain, France, Italy, Greece, Belize, Guatamala, Mexico, US and British Virgin Islands, but there is still much of the world to discover (i.e., Asia, South America and Africa). I'm estimating an annual travel budget of between $10-20k. We would probably wear out the travel bug by the time we hit our mid 70's....
We would appreciate any comments relative to our current portfolio and our retirement plans.
My wife is telling me she is done at the end of 2008 come hell or high water! I'd like to quit now, just sick and tired of my current profession (legal).
Mike