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56 and looking to retire in 2012
Old 03-08-2012, 08:00 PM   #1
Dryer sheet wannabe
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Join Date: Mar 2012
Location: Sugar Hill
Posts: 12
56 and looking to retire in 2012

Just joined this community a few days ago,and look forward to reading and absorbing all the advice, really great posts here!

My original intent as a teenager who read the WSJ cover to cover was to make the first million and retire by 26.

Plan B however was the more practical route of college\grad school, work hard, spend frugally, and save enough to retire at 50 or 55

Plan C after unexpectedly divorcing the high spending spouse (although not for those reasons - actually we are still friends) was to figure out how to do so as soon as possible, so I could figure out how to enjoy all the hobbies I never have time to do, like Fishing, hiking, and more fishing...and a few other things.

Anyway, it appears I am close (hopefully will pull the trigger in next few months!), as fortunately my 401K has increased quite nicely (unabashed contrarian market timers sometimes do get lucky irregardless that it is always warned about). Anyway I don't have a lot of questions YET, but I am sure I will. I am doing all the analysis on health care plans, current & future expenses, etc etc and no questions so far in that area, but I am sure that will change.

One question i do have, and excuse me if there is already a link on this site, that I have missed, but I am looking or a detailed retirement calculator, that does not require me to "sign-up" to fully utilize its features. In particular, I am looking to not only plug in my 401k balance and SS benefits with different assumptions (62 vs 66), but also a way to compare taking my pension now (56) or at age 62 (with the different values) well as the capability to plug in different values for withdrawing from the 401K at different rates over time, ie sort of like this:

age 56 to 59 1/2 = $XXX /month
age 59 1/2 to 62 = $XXX /Month
age 63 to 66 = $XXX/ month

Anyone have any suggestions in this area?

Thanks in advance to any suggestions!
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Old 03-08-2012, 08:17 PM   #2
Recycles dryer sheets
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Welcome. Firecalc will be your best bet for calculators. You enter your various bits of info into the tabs along the top of the page.
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Old 03-08-2012, 09:29 PM   #3
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With all due respect, if you have no questions about what the future holds in the health care area you are much wiser than most of the rest of us

+1 on Firecalc. Among the best retirement calculators out there.
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Old 03-08-2012, 09:45 PM   #4
Dryer sheet wannabe
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Join Date: Mar 2012
Location: Sugar Hill
Posts: 12
Thanks to both of you on Firecalc. On health care, I don't have questions yet, but sure I will, although I have been saving into a HSA for some years, and my current plan is to continue that approach for some years with a high deductable HSA policy, along with continued deductable contributions as part of my planned expense structure. Thanks!!
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Old 03-09-2012, 05:13 AM   #5
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Hi grizzlyff, welcome to the forum. As others have pointed out, FIRECalc wil let you test different scenarios and you have already signed up. Many members have used it, so ask as many questions as needed.
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