The Onceler
Dryer sheet aficionado
Hi all! I found this site somewhat by accident. firecalc is so cool. And the posters seem to be incredibly helpful and insightful. Don't quite get how firecalc ignores tax effects and still is predictive but I'll learn to adjust. Not very financially savvy but have really tried to save while pretty much not being too frugal. I guess we have been LWYM. Come from very modest background with student loans etc. so can handle belt tightening.
So:
Married -- no children no debt. Own our planned retirement house in country and just recently sold our coop in city and now renting. Plan for now is RE at year end 2018. This is a brand new scary spooky plan -- 1 week old. Both of us are getting fully stressed at work and it seems to be affecting our basic outlook on life if not our health. I hope RE does not become too much of a surrogate stress point.
I work for mega mega corp for 28 years -- it is insane. But I knew it would be. DW works for state government agency for 30 years. Our details:
Both DW and I are 56.
DW stands to receive $103k pension w no cola starting 2019 (assuming ER) at age 57 -1/2 retirement. Been paid way way below market for 30 years but trade off was dbp. This number is 100% survivor.
I qualify for approx $93k variable dbp starting at 65 w some minor adjustments for actual returns. This is 100% survivor w no cola.
We could each add about $7k per year if we keep on grinding.
We have about $5.3m in savings of which about $3.8 is tax deferred (401k etc).
SS is probably $35k ish each at 65 assuming it is there.
We have a very bad handle on expenses. Not sure how to create a good baseline. Obviously taxes and insurance etc are part of it. Any recommendations on a good system for developing expense data would be gratefully received!
Oh yes-- DW qualifies us for paid healthcare during her lifetime only starting on retirement date. Once Medicare kicks in it is a supplement. I don't know anything about healthcare thank heavens but that could change tomorrow.
Stepping off the ledge must be tough because in our world there is no going back.
So:
Married -- no children no debt. Own our planned retirement house in country and just recently sold our coop in city and now renting. Plan for now is RE at year end 2018. This is a brand new scary spooky plan -- 1 week old. Both of us are getting fully stressed at work and it seems to be affecting our basic outlook on life if not our health. I hope RE does not become too much of a surrogate stress point.
I work for mega mega corp for 28 years -- it is insane. But I knew it would be. DW works for state government agency for 30 years. Our details:
Both DW and I are 56.
DW stands to receive $103k pension w no cola starting 2019 (assuming ER) at age 57 -1/2 retirement. Been paid way way below market for 30 years but trade off was dbp. This number is 100% survivor.
I qualify for approx $93k variable dbp starting at 65 w some minor adjustments for actual returns. This is 100% survivor w no cola.
We could each add about $7k per year if we keep on grinding.
We have about $5.3m in savings of which about $3.8 is tax deferred (401k etc).
SS is probably $35k ish each at 65 assuming it is there.
We have a very bad handle on expenses. Not sure how to create a good baseline. Obviously taxes and insurance etc are part of it. Any recommendations on a good system for developing expense data would be gratefully received!
Oh yes-- DW qualifies us for paid healthcare during her lifetime only starting on retirement date. Once Medicare kicks in it is a supplement. I don't know anything about healthcare thank heavens but that could change tomorrow.
Stepping off the ledge must be tough because in our world there is no going back.