Hi Y'all,
I'm 53 and looking at 55 as the year I can retire. I've run the numbers time and again. Only 2 years away, so the figures are more accurate than if I was planning decades out.
I will change my home before I retire and recheck the math taking the new home costs into consideration.
My 401k , roth, annuity, and two pensions will be left untouched until needed around the "normal" retirement age. I'm Mortgage free by the way. And yes I've allowed for insurance.
In the mean time, age 55 till 62, I'll have savings to last me 7 years. This isn't income from savings, its me withdrawing from savings. If I don't work at all, the money will be gone at age 62. Of course I hope to stretch that with some part time or occasional work.
Of course were not talking a simple savings account, but some form of low risk moderate return vehicle. (I'm investigating a new fangled "2 year annuity" ladder designed to compete with CDs.)
Hope all that info wasn't too muddled.
I'm looking for your input on this unconventional plan. Admittedly the idea of a non sustainable withdrawal rate is lunacy to some.
My other long term accounts with continue to be vested in the market and (we all hope) grow.
I try to look at it like I'm buying a 7 year vacation. We don't know if inflation will sky rocket, the safest thing for everyone is to work till they drop.
Please encourage m or set me straight. Thanks
I'm 53 and looking at 55 as the year I can retire. I've run the numbers time and again. Only 2 years away, so the figures are more accurate than if I was planning decades out.
I will change my home before I retire and recheck the math taking the new home costs into consideration.
My 401k , roth, annuity, and two pensions will be left untouched until needed around the "normal" retirement age. I'm Mortgage free by the way. And yes I've allowed for insurance.
In the mean time, age 55 till 62, I'll have savings to last me 7 years. This isn't income from savings, its me withdrawing from savings. If I don't work at all, the money will be gone at age 62. Of course I hope to stretch that with some part time or occasional work.
Of course were not talking a simple savings account, but some form of low risk moderate return vehicle. (I'm investigating a new fangled "2 year annuity" ladder designed to compete with CDs.)
Hope all that info wasn't too muddled.
I'm looking for your input on this unconventional plan. Admittedly the idea of a non sustainable withdrawal rate is lunacy to some.
My other long term accounts with continue to be vested in the market and (we all hope) grow.
I try to look at it like I'm buying a 7 year vacation. We don't know if inflation will sky rocket, the safest thing for everyone is to work till they drop.
Please encourage m or set me straight. Thanks
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