Hi, today was the day.

[Christy]

Last week I decided enough was enough.

My assets include:
$700,000 in 401k and IRA mutual fund accounts
$500,000 in taxable mutual funds
$150,000 in home (mortgage paid-off)

Expenses:
approx $20,000/yr not incl taxes or medical insurance

: 47 yo, unmarried, and no debt.

Hope I didn't make a mistake.

 

[omni550]

Welcome, Christy.

Have you run Firecalc? FIRECalc: A different kind of retirement calculator

omni

 

[MasterBlaster]

Welcome, Christy.

Have you run Firecalc? FIRECalc: A different kind of retirement calculator

omni

With $1.2M in assets, and a 3.5% SWR,I would ballpark your cashflow at around $42k which is well above your expenses.

Have you budgeted for healthcare ? That can get very expensive, and especially so as you age and if you have any pre-existing conditions or medical events along the way.

Are taxes part of your (included) expenses ?

Bernstein's SWR charts are attached, as well as his suggestion for stock-bond allocation per retirement duration. Notice the high percentage stock allocation for long retirements

 

[Packman]

Welcome Christy. Your expenses are very low, even if medical insurance sets you back 10k/year. You will need to live on the taxable account for quite a while, but if you can maintain your low-cost lifestyle, you should be able to handle it.

I'm assuming the j*b was unbearable. If you can go back to another similar j*b, perhaps that is you fallback option, should your need it.

 

[DoraM]

Welcome Christy. Your expenses are very low, even if medical insurance sets you back 10k/year. You will need to live on the taxable account for quite a while, but if you can maintain your low-cost lifestyle, you should be able to handle it.

I'm assuming the j*b was unbearable. If you can go back to another similar j*b, perhaps that is you fallback option, should your need it.

Actually, with the low cost lifestyle it would be advantageous for Christy to NOT live entirely on the taxable account but instead withdraw from the 401K/IRA via the 72T provison, at least up to the 15% bracket. Or even better, live on the taxable account but convert a portion of the IRA/401K to Roth each year, thus eventually reducing taxes to zero. Possibly this would save you from being means tested for SS one day too.

 

[easysurfer]

Christy,

Congrats and welcome aboard!

 

[obgyn65]

Hello Christy - have you run your numbers with this free online tool : Merrill Edge| See Where You Stand

 

[Alan]

Welcome to the site Christy (and Kathy).

 

[WB52]

Christy,
Congratulations. You did it!

 

[Backpacker]

AWESOME! congrats from a fellow 47 year old - unfortunatly I've still got at least 7 years to w*rk

 

[Retire2013]

Congratulations! And welcome to the Forum.

 

[redduck]

Congratulations, Christy. We, the vast majority of the Early Retirement and Financial Independence Community, were wondering when you might retire. And, now you've done it. Welcome aboard.

 

[Midpack]

Last week I decided enough was enough.

My assets include:
$700,000 in 401k and IRA mutual fund accounts
$500,000 in taxable mutual funds
$150,000 in home (mortgage paid-off)

Expenses:
approx $20,000/yr not incl taxes or medical insurance

: 47 yo, unmarried, and no debt.

Hope I didn't make a mistake.

Congrats Christy! Can we add you here http://www.early-retirement.org/forums/f29/the-class-of-2011-a-53912-18.html#post1088159, or you can do the honors yourself if you'd like to!

 

[freebird5825]

Congratulations!

 

[scrabbler1]

Congrats, Christy. As someone whose personal situation is not a lot unlike yours (I am 48, no debts, no spouse, no kids, just over $1M in assets in reverse proportion to yours, along with my home worth around $100k), I share your joy.

I would advise you not to ignore taxes and health insurance, particularly the latter which can become quite costly.