Hello,
As longtime followers of this forum for planning advice and as a direct result, we are finally at the point of convincing ourselves that we are FI and ready to RE. I am 58 and DW is 56. We live a fairly frugal lifestyle other than preparing our boat for cruising. Although I am two years away (need 10 full years of federal service) from a $1,200/mo pension and continued health benefits - mentally I am done.
FIREcalc gives us 100% success results without the pension. And our full-time cruising friends say, “Don’t wait. Go now!” mainly because the lifestyle requires fairly good health. Based on their average annual expenses over the last couple of years and no personal debt of our own (boat is paid for and house will be sold), our initial annual budget will be around $35K excluding a major repair event.
We are still fine tuning the numbers and timeline and will be meeting with an FA next week. Many more questions and progress reports to follow.
As longtime followers of this forum for planning advice and as a direct result, we are finally at the point of convincing ourselves that we are FI and ready to RE. I am 58 and DW is 56. We live a fairly frugal lifestyle other than preparing our boat for cruising. Although I am two years away (need 10 full years of federal service) from a $1,200/mo pension and continued health benefits - mentally I am done.
FIREcalc gives us 100% success results without the pension. And our full-time cruising friends say, “Don’t wait. Go now!” mainly because the lifestyle requires fairly good health. Based on their average annual expenses over the last couple of years and no personal debt of our own (boat is paid for and house will be sold), our initial annual budget will be around $35K excluding a major repair event.
We are still fine tuning the numbers and timeline and will be meeting with an FA next week. Many more questions and progress reports to follow.