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Class of 2013 -- I hope!
Old 01-02-2013, 08:15 PM   #1
Recycles dryer sheets
Join Date: Jan 2013
Posts: 62
Class of 2013 -- I hope!

Hi all,

Just joined this fabulous site. Everyone is giving me more confidence about making the big move at the end of 2013. Please offer your advise on whether you think my dream can come true!

Current age: 55

No kids!

2013 income: $126,000

Annual Saving Budget: $25,000

Current Life Savings: $465,000

Additional IRA/Roth Savings: $85,000

Anticipated combined savings at end of 2013: $630,000

House Value: $300,000

Mortgage: $35,000/3.5 yrs left

Other debt: $0

Annual Pension (Starting in 2014): $63,500 (no COLA)

Retirement Benefit: Full Medical Coverage

Spousal Benefit: Free Air travel (airline employee)

Annual Expenses: $70,000 (gross)

It may seem like a no-brainer, but I would like to buy a condo in Puerto Vallarta, Mexico for $250,000 CASH while keeping my state-side home. I think I can rent the condo out for annual income of approximately $20,000/year, at least until my state-side mortgage is paid in 3.5 years.

What do you think
Siestatime is offline   Reply With Quote
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Old 01-02-2013, 11:33 PM   #2
Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2006
Posts: 11,401
Welcome! Two things:
1. Try your numbers in FireCalc.
2. Send a pm to kcowan. He owns a condo in PV.
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Old 01-03-2013, 03:50 AM   #3
Recycles dryer sheets
Join Date: Jan 2013
Posts: 62
Thanks Meadbh!

FIREcalc says I'm 100% on plan. So does TRowePrice retirement calculator and others. Only Susy Orman would probably say no :-)

I'll reach out to kcowan in the coming days.
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Old 01-05-2013, 05:44 AM   #4
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Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Welcome to the forum. If FIREcalc says you are good to go , then you are good to go. However, like me you might be suffering from the "one more year syndrome". :-)
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 01-05-2013, 01:57 PM   #5
Recycles dryer sheets
Join Date: Jan 2013
Posts: 62

Yes! I've had that for several years! But with the markets recovering and this new-found font of information, I'm gaining confidence every day that this is the year to FIRE!

"It is not the man who has too little, but the man who craves more, who is poor" Senaca
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Old 01-06-2013, 08:57 AM   #6
Dryer sheet wannabe
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Join Date: Jan 2013
Location: Indiana
Posts: 22
Hold your course!!!

I'm not retiring from life… just a job.
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