Hello All,
After a solid 29 year run in corporate America with two companies, my position was recently eliminated and I'm facing a new chapter that is largely unscripted.
An option that I've been contemplating and preparing for for many years is the early retirement option and I've been encouraged about that possibility after reading various threads on this forum and the many insights that forum members have offered.
I'll be 52 in a couple of months but consider 2018 to "be in the books" in terms of income with company severance and unemployment so would not look to "officially" retire until 2019.
My current situation is as follows:
Portfolio Value: $2.4 MM - Savings, IRAs, 401k's, small pension, and some company stock
Liabilities: $0 - no mortgage, debt, etc. , kids grown and on their own
Anticipated Annual Expenses: $50,000
I'm currently married (and plan to stay married) and live in a low COLA in the Mid-Atlantic.
I'm anticipating that healthcare will be my largest expense moving forward so I've begun researching those options including COBRA and beyond.
Any thoughts, comments, opinions, with regard to the viability of early retirement based on above are greatly appreciated.
Would particularly value any feedback from others that found themselves in a similar predicament, with similar age/asset/expense profile and hindsight experiences with early retirement.
Thanks in advance for your time and input!
Sincerely,
trop66
After a solid 29 year run in corporate America with two companies, my position was recently eliminated and I'm facing a new chapter that is largely unscripted.
An option that I've been contemplating and preparing for for many years is the early retirement option and I've been encouraged about that possibility after reading various threads on this forum and the many insights that forum members have offered.
I'll be 52 in a couple of months but consider 2018 to "be in the books" in terms of income with company severance and unemployment so would not look to "officially" retire until 2019.
My current situation is as follows:
Portfolio Value: $2.4 MM - Savings, IRAs, 401k's, small pension, and some company stock
Liabilities: $0 - no mortgage, debt, etc. , kids grown and on their own
Anticipated Annual Expenses: $50,000
I'm currently married (and plan to stay married) and live in a low COLA in the Mid-Atlantic.
I'm anticipating that healthcare will be my largest expense moving forward so I've begun researching those options including COBRA and beyond.
Any thoughts, comments, opinions, with regard to the viability of early retirement based on above are greatly appreciated.
Would particularly value any feedback from others that found themselves in a similar predicament, with similar age/asset/expense profile and hindsight experiences with early retirement.
Thanks in advance for your time and input!
Sincerely,
trop66