rocketjockey
Recycles dryer sheets
Been around, posted a bit, but finally formally introducing myself.
As the username implies, aerospace engineer (orbital rockets) by trade. The usual salary slave dilemma of most of the money in pre-tax accounts.
Had a few family members get hit with serious illnesses lately (60 y.o. BIL had a stroke last week - lifelong vegetarian, non-smoker, non-drinker, very fit), accelerating the DW call to retire ASAP. I have always been on board with an early out (it was my idea she retire 2 years ago), but now that the edge of the cliff is within view, getting shaky.
Using Personal Capital to track expenses for past 2 years, COL is at $75k/yr in HCOL California. Some small fluff in there but also no big items like new cars or house emergencies. House only 8 years old so no major failures expected for a while.
The usual bugbear, healthcare…Planning to bump up to $80K to account for PTC deductibles/premiums.
I am aiming at managing income with our DW pension/cash/post-tax/RSUs to keep in the PTC zone for at least the next 3-4 years. If nothing changes in the ACA by then, will have to pull out bigger pre-tax amounts to pay the full cost it seems like.
We are ok with moving to a lower cost/smaller local house when/if needed. Not in our “forever” home.
FireCalc says 100%, even 100% at higher expenditures like $90K/yr or $100K.
The Facts:
Me: 49, DW: 56 (retired 2 years)
Wife: Excellent health, me – 15lb overweight, BP creeping up into bad zone if I am being honest. CoVID certainly not helping the cause on either front.
No kids!
No parents to support either.
The Funds:
Taxable $108K (cheating ex-wife in my past really wiped this one out)
RSUs $260K (can only sell sporadically when a certain eccentric billionaire decides - usually once or twice a year, but not guaranteed)
Roth IRA $80K ($53K in contributions and seasoned conversions)
403(b) $360K (Available now due to DW Rule of 55)
401(k)/IRA $1.33M
Cash $200K
HSA $11K
Home $800K
No debt
Total NW = $3.1M
Pensions:
DW: $17K/year with COLA – active now
Me: $14K/year starting at 55 (grows if I take it later)
SS:
DW: Minimal expected due to WEP & GPO
Me: hard to estimate being so far out, but I have pegged the tax limit for a long time. Using worst case of $2K/mo at 62
Everything seems ok per FireCalc and other sims, but ya know how it is when your hand is on the ejection handle……
Aiming for January 2021, but only for the silly reasons of hitting all the free money company holidays (Xmas shutdown) and getting the medical at low cost. No big bonuses out there I'd miss.
Thanks in advance if you made it this far....
Thoughts?
As the username implies, aerospace engineer (orbital rockets) by trade. The usual salary slave dilemma of most of the money in pre-tax accounts.
Had a few family members get hit with serious illnesses lately (60 y.o. BIL had a stroke last week - lifelong vegetarian, non-smoker, non-drinker, very fit), accelerating the DW call to retire ASAP. I have always been on board with an early out (it was my idea she retire 2 years ago), but now that the edge of the cliff is within view, getting shaky.
Using Personal Capital to track expenses for past 2 years, COL is at $75k/yr in HCOL California. Some small fluff in there but also no big items like new cars or house emergencies. House only 8 years old so no major failures expected for a while.
The usual bugbear, healthcare…Planning to bump up to $80K to account for PTC deductibles/premiums.
I am aiming at managing income with our DW pension/cash/post-tax/RSUs to keep in the PTC zone for at least the next 3-4 years. If nothing changes in the ACA by then, will have to pull out bigger pre-tax amounts to pay the full cost it seems like.
We are ok with moving to a lower cost/smaller local house when/if needed. Not in our “forever” home.
FireCalc says 100%, even 100% at higher expenditures like $90K/yr or $100K.
The Facts:
Me: 49, DW: 56 (retired 2 years)
Wife: Excellent health, me – 15lb overweight, BP creeping up into bad zone if I am being honest. CoVID certainly not helping the cause on either front.
No kids!
No parents to support either.
The Funds:
Taxable $108K (cheating ex-wife in my past really wiped this one out)
RSUs $260K (can only sell sporadically when a certain eccentric billionaire decides - usually once or twice a year, but not guaranteed)
Roth IRA $80K ($53K in contributions and seasoned conversions)
403(b) $360K (Available now due to DW Rule of 55)
401(k)/IRA $1.33M
Cash $200K
HSA $11K
Home $800K
No debt
Total NW = $3.1M
Pensions:
DW: $17K/year with COLA – active now
Me: $14K/year starting at 55 (grows if I take it later)
SS:
DW: Minimal expected due to WEP & GPO
Me: hard to estimate being so far out, but I have pegged the tax limit for a long time. Using worst case of $2K/mo at 62
Everything seems ok per FireCalc and other sims, but ya know how it is when your hand is on the ejection handle……
Aiming for January 2021, but only for the silly reasons of hitting all the free money company holidays (Xmas shutdown) and getting the medical at low cost. No big bonuses out there I'd miss.
Thanks in advance if you made it this far....
Thoughts?