Ready to Quit/back way off the work thing and spend more time fishing, hiking, camping, woodworking...NOT working.
I am 60, DW is 55 and stay at home. I would like to quit now but am also considering a new job for 1 or 2 years. Burned out on long days/weeks/travel.
Savings: 500k pre-tax, $17k HSA, $20k ckg. Small ($7400/yr) fixed pension. SS annual - me $24300 Aug, 2020. DW $8500 Sep,2026.
Expenses: $58k/yr total includes $5k taxes and $18k annual mortgage (20 years left).
Ideal plan: I want to sell my home (~100k equity) and relocate near the coast in a smaller house (drop from $18k annual mortgage to $14k annual mortgage for 20 yrs).
Still have a few questions:
* ACA Healthcare
Cost estimator. I ran online ACA estimate with 60k income and it returned ~$380/Mo premiums for me and DW combined. I have heard from others that the actual amount after registering could be significantly higher than this estimate. Is that true?
Timing? If I were to quit midyear could I still get HCI for the remainder of the year or do I need to wait until end of year?
FIRECalc:
I entered values for Jan, 2019 retirement using $420k savings (in case I convert some funds to stay below the ACA subsidy threshold in the next few years): 40k expense, $7400/yr pension, $18k 20 yr mortgage. 1 failed but curves look pretty low.
I want to adjust SocSec WD to 2021 or 2022 with PT work. How can I adjust FIRECalc to account for 2-3 years of part time work at, say, $30k/yr?
I am 60, DW is 55 and stay at home. I would like to quit now but am also considering a new job for 1 or 2 years. Burned out on long days/weeks/travel.
Savings: 500k pre-tax, $17k HSA, $20k ckg. Small ($7400/yr) fixed pension. SS annual - me $24300 Aug, 2020. DW $8500 Sep,2026.
Expenses: $58k/yr total includes $5k taxes and $18k annual mortgage (20 years left).
Ideal plan: I want to sell my home (~100k equity) and relocate near the coast in a smaller house (drop from $18k annual mortgage to $14k annual mortgage for 20 yrs).
Still have a few questions:
* ACA Healthcare
Cost estimator. I ran online ACA estimate with 60k income and it returned ~$380/Mo premiums for me and DW combined. I have heard from others that the actual amount after registering could be significantly higher than this estimate. Is that true?
Timing? If I were to quit midyear could I still get HCI for the remainder of the year or do I need to wait until end of year?
FIRECalc:
I entered values for Jan, 2019 retirement using $420k savings (in case I convert some funds to stay below the ACA subsidy threshold in the next few years): 40k expense, $7400/yr pension, $18k 20 yr mortgage. 1 failed but curves look pretty low.
I want to adjust SocSec WD to 2021 or 2022 with PT work. How can I adjust FIRECalc to account for 2-3 years of part time work at, say, $30k/yr?