dpac1960
Confused about dryer sheets
Hello, Its always been my goal to retire early as soon as I could afford it and I think Im about there. I'd really appreciate any advice, suggestions, warning, etc, about what to avoid or things to think about before I take the plunge.
I am 47 years old. I am not married and have no dependents. I live in Kansas City and own a home worth about $145,000 and owe about $80,000 on the mortgage. I have a second mortgage that I owe about $39,000 on and have no other debt. I currently have $1.4 million in an extremely high growth, high risk 401k mutual fund account. I am a contract computer programmer making $83,000 a year for the government.
My plan is to roll this money into a very secure long-term government bond fund account that is set up as a SEPP account so I can receive periodic redemptions from it and not have to pay the 10% penalty for premature redemptions. I plan on staying in my house for at least another five years, then buy something more upscale once the housing market improves. After I retire I'd like to travel extensively, but keep a relatively moderate standard of living.
I'd appreciate any thoughts/advice/feedback on my plan. Is it doable? Is there a better way to utilize money? Are there any mutual fund companies that will help setup my sepp account? What are some of the pitfalls to avoid? Any and all replies are welcome. I really want to do this right.
I am 47 years old. I am not married and have no dependents. I live in Kansas City and own a home worth about $145,000 and owe about $80,000 on the mortgage. I have a second mortgage that I owe about $39,000 on and have no other debt. I currently have $1.4 million in an extremely high growth, high risk 401k mutual fund account. I am a contract computer programmer making $83,000 a year for the government.
My plan is to roll this money into a very secure long-term government bond fund account that is set up as a SEPP account so I can receive periodic redemptions from it and not have to pay the 10% penalty for premature redemptions. I plan on staying in my house for at least another five years, then buy something more upscale once the housing market improves. After I retire I'd like to travel extensively, but keep a relatively moderate standard of living.
I'd appreciate any thoughts/advice/feedback on my plan. Is it doable? Is there a better way to utilize money? Are there any mutual fund companies that will help setup my sepp account? What are some of the pitfalls to avoid? Any and all replies are welcome. I really want to do this right.