Hi from the swamp :-)

[Tiger8693]

I have been hanging around, reading posts, and learning for quite some time. I am 55 (DW is 56) and am hoping to leave the hamster wheel in 2023, sooner if possible.

We currently have following saved:
$123k in Taxable account, $100k in in CD ladder, $23k in ETF
$670k in two 401k accounts, 65/35
$85k in Defined Contribution Pension, earns 4% YOY (not accessible until 65)
$225k home equity
Expect $4k/month SS (DW@62, me at 67)

We have $200k mortgage (13 years left)
Minimal other debt

Look forward to continuing to learn on here!

 

[ugeauxgirl]

When I saw your username and post title, I thought you were a fellow Louisianian, but clearly you're hailing from a different swamp altogether. Welcome!

 

[Mdlerth]

There's even less partisanship here than in DC! Amazing!

Ah, yes, the nation's capital - my old home town. Many years ago I departed in search of my destiny, but still have lots of family clustered around there. Each time I go back for a visit the traffic is slightly worse!

Welcome to the forum. I lurked here for a year or two before joining, and what I learned during all that time has shaved years off my exit date. May you also enjoy similar enlightenment.

Barring some huge surprise, I'm in my final year at the sweatshop. Good luck and keep us all posted on your progress toward freedom!

 

[Dtail]

Welcome to our wonderful forum.
Knowledge of expenses especially coverage of medical before Medicare will go a long way to getting comfortable pulling the plug.

 

[Crabby Mike]

Spent most of my career in that swamp. Good news -- there is life afterwards (as long as you get far enough away ...)

 

[Bryan Barnfellow]

Welcome Tiger. I used to live on the East Coast in the US and watched with wonder and joy how Washington, D.C. transformed itself. Great city to visit and walk about in.

-BB

 

[Tiger8693]

Thanks everyone. Yes, Crabby Mike, I’m counting on life after!

Forgot to put in original post that plan for $60k/yr expenses.

 

[MBAustin]

Welcome Tiger! If you haven't found them already, we have a helpful list of things to think about as you are doing your planning:

Some Important Questions to Answer

Also, we highly recommend detailed expense tracking for a year or two to validate your needs in retirement as well as accounting for large but occasional expenses (new roof, car replacement, etc.). Finally, running FIREcalc (link on every page here) and other calculators can be helpful in setting your asset allocations and withdrawal plans.

We look forward to your contributions!

 

[Omega]

I love Washington, DC. Do you plan to stay after you retire?

 

[googily]

I have been hanging around, reading posts, and learning for quite some time. I am 55 (DW is 56) and am hoping to leave the hamster wheel in 2023, sooner if possible.

Welcome from a fellow swamp rat!

 

[HI Bill]

$123k in Taxable account, $100k in in CD ladder, $23k in ETF
$670k in two 401k accounts, 65/35
$85k in Defined Contribution Pension, earns 4% YOY (not accessible until 65)
$225k home equity
Expect $4k/month SS (DW@62, me at 67)

We have $200k mortgage (13 years left)
Minimal other debt

Welcome! Not too bad a start! You have $100k in CDs, and another $235K in bonds, so that's $335K out of your ~$878K of investments. Pretty close to the traditional 60/40 split. If I were 8 years out from retirement, I'd keep it closer to 80/20 or 90/10, at least until 3 years out, just to get some more gains. Problem is, with the market so high (currently), I'd be hesitant to sell bonds/cash to buy equities at this point. But when it does drop, at least 5-10%, I'd consider shifting some of your assets....just thoughts!

 

[aida2003]

Hi and welcome

Is Washington, DC called a swamp? It put a grin on my face now considering why it could be that way

Anyway MBAustin already provided a link for you. Are you asking or just presenting your financial vitals? I didn't notice questions.

Wecome and share some ground news from the swamp

 

[Tiger8693]

Welcome! Not too bad a start! You have $100k in CDs, and another $235K in bonds, so that's $335K out of your ~$878K of investments. Pretty close to the traditional 60/40 split. If I were 8 years out from retirement, I'd keep it closer to 80/20 or 90/10, at least until 3 years out, just to get some more gains. Problem is, with the market so high (currently), I'd be hesitant to sell bonds/cash to buy equities at this point. But when it does drop, at least 5-10%, I'd consider shifting some of your assets....just thoughts!

Thanks Bill. Actually hoping to be 5 years out (2023), but was also thinking I might need to be a little heavier equity, maybe 70/30. A little too conservative for 90/10 right now. Trying to pump up after-tax account to help with covering healthcare until Medicare. Also have about $10k in HSA, contributing max to that for next 5 years.

 

[Tiger8693]

Anyway MBAustin already provided a link for you. Are you asking or just presenting your financial vitals? I didn't notice questions.

Wecome and share some ground news from the swamp

Not really questions yet, but any comments are welcome.

Not planning on staying here after, probably go South, not sure how far.

 

[38Chevy454]

Not planning on staying here after, probably go South, not sure how far.

Just go as far away as possible

 

[Tiger8693]

Just go as far away as possible

Too funny! Not sure how far I will go yet. Looking at different areas, tax considerations, COL, etc.