I've been reading the forums for several weeks and have been impressed with all the useful information given out.
My situation is I'm retired military with a pension and currently work full time working towards another pension. I'm 51 years old and my wife is 58 years old. I will be vested in about 2 months, but plan on working until age 57 and call it quits.
I contribute to a 457 plan each month and do not have it maxxed out yet, but its close to that amount. I'm also hoping to have our mortgage paid off before I retire. I refinanced to a 15 yr mortgage in 2001 and have made several extra payments this year and hope to continue that until paid off.
We currently live in a high cost area, but we are thinking of selling our home and relocating to a lower cost area to pay cash for a house and invest the rest after I retire. Is this plan feasible? Thanks for any input.
My situation is I'm retired military with a pension and currently work full time working towards another pension. I'm 51 years old and my wife is 58 years old. I will be vested in about 2 months, but plan on working until age 57 and call it quits.
I contribute to a 457 plan each month and do not have it maxxed out yet, but its close to that amount. I'm also hoping to have our mortgage paid off before I retire. I refinanced to a 15 yr mortgage in 2001 and have made several extra payments this year and hope to continue that until paid off.
We currently live in a high cost area, but we are thinking of selling our home and relocating to a lower cost area to pay cash for a house and invest the rest after I retire. Is this plan feasible? Thanks for any input.
