Are we there yet?
I am a long time lurker (4+ years) that finally decided to drop in and say Hi.
DW and I are 59yo. DS is 33 and independent. I am an engineer by education, working now in project management. I have been with my current employer for 26 years. While I haven't left the company in that time, I have been through ownership by 4 Megacorps and 3 private equity firms. The more things change the more they stay the same. Planned RE date is end of August 2015 (60th birthday). DW is already semi-retired, working as a substitute teacher.
So, here we go with the financial stuff. In round numbers:
After tax account: $735,000
Total: $2,500,000, AA: 65/35 stocks/bonds
Condo: $160,000 (no mortgage)
My SS at FRA (66.2): $30,000/yr (DW will take 1/2 of mine at about the same time)
On the expense side:
3 year average (excluding HI, Taxes, and one time expenses): $65,000
Includes 2-3 vacations plus 3-5 long weekends per year
Subsidized HI available. Cost still not finalized, as current megacorp just changed carriers, but will about $8,000/yr.
So, planning on expenses of $65,000+10,000(HI)+10,000(taxes)=$85,000
I am conservative by nature so I only use the retirement accounts and my SS for retirement calculations. Cash, DW's SS, and potential inheritance are icing on the cake. Firecalc says I am all set, with room to spare.
The current job is not bad (has lots of international travel, which I kind of enjoy), and my salary is pretty good, but I am looking forward to a new stage in my life. Got a new travel trailer and looking to put some miles on it!
Looking forward to joining the conversations here!
So, Are we there yet!!
If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!