I'm 53 with almost 30 years with the same company (engineer). I just talked to my financial advisor last week and went over all my assets, liabilities, insurance, retirement needs, etc. She's telling me that based on a conservative allocation, and including SS and my Army Reserve Retirement at age 60, I can draw a monthly check of $5800 (after taxes), and that my money should last until my wife turns 88 (she's 12 years younger than me). This figure increases 4.5% annually to account for inflation. This is about $600 a month more take home money than I currently make working. At 55 years of age I get company insurance until medicare kicks in, and at 60 I also will get Tricare (military).
It looks like a no-brainer that I can hang it up at age 55 doesn't it? (Or am I missing something?)
Please feel free to review and advise.
It looks like a no-brainer that I can hang it up at age 55 doesn't it? (Or am I missing something?)
Please feel free to review and advise.