jastew
Dryer sheet wannabe
Hello all. I've been lurking here for about 5 years and made very few posts. I've learned a lot here and thank you all for your wisdom/experience.
I'm getting very close to pulling the trigger and have run many calculators and run FIRECalc many times, using many different scenarios. Everything points to a successful retirement but I have a nagging feeling I'm missing something. Might just be cold feet.
Anyway, I'm outlining my situation below and would appreciate it if you guys would offer your opinion.
I'm 60, wife is 57. I'm still working, she's retired. We have $1.7M in various accounts, mostly tax deferred. No debt.
I have current monthly pensions totaling $5300 (after taxes, after health insurance premiums). The Mrs gets about half of that when I die (Survivor Benefit).
Health insurance premiums are around $460/mo. I'm eligible for Tricare but am hesitant to use it due to physician availability. But if push comes to shove, I could do that and save another $460/mo.
My expenses are around $4k a month. This is steady state, normal living expense, not including big purchases (cars, house repairs, vacations, etc).
The most extreme scenario I've run in FIRECalc is spending $150k, for 40 yrs. That gives me a success rate of 96.4%. That sounds great to me but those numbers just don't seem possible.
I haven't included SS in any calculations, hoping that will be icing on the cake.
I would like to live off pensions as much as possible and use the savings as a big purchase well to go to as needed and then leave behind as much of the nest egg as possible for the Mrs when I die.
Thanks for reading this far and I look forward to your comments.
I'm getting very close to pulling the trigger and have run many calculators and run FIRECalc many times, using many different scenarios. Everything points to a successful retirement but I have a nagging feeling I'm missing something. Might just be cold feet.
Anyway, I'm outlining my situation below and would appreciate it if you guys would offer your opinion.
I'm 60, wife is 57. I'm still working, she's retired. We have $1.7M in various accounts, mostly tax deferred. No debt.
I have current monthly pensions totaling $5300 (after taxes, after health insurance premiums). The Mrs gets about half of that when I die (Survivor Benefit).
Health insurance premiums are around $460/mo. I'm eligible for Tricare but am hesitant to use it due to physician availability. But if push comes to shove, I could do that and save another $460/mo.
My expenses are around $4k a month. This is steady state, normal living expense, not including big purchases (cars, house repairs, vacations, etc).
The most extreme scenario I've run in FIRECalc is spending $150k, for 40 yrs. That gives me a success rate of 96.4%. That sounds great to me but those numbers just don't seem possible.
I haven't included SS in any calculations, hoping that will be icing on the cake.
I would like to live off pensions as much as possible and use the savings as a big purchase well to go to as needed and then leave behind as much of the nest egg as possible for the Mrs when I die.
Thanks for reading this far and I look forward to your comments.