 |
first time here - dreaming big now...
11-23-2010, 01:35 PM
|
#1
|
|
Confused about dryer sheets
Join Date: Oct 2010
Location: New Canaan
Posts: 7
|
first time here - dreaming big now...
married, 55, 6 more yrs of college payments ($40k/yr) to go. $320k 401k now, another $800k equity in house, plan to work another 3-5 yrs (until 16yr old daughter is somewhat settled in college/life), then quit this rat race...wife is already 'retired', but doesn't want me to retire (and thereby sell our house) just yet. she thinks I should work until my late 60's at least...which is not gonna happen!
most of what I read here is quite helpful and encouraging (thanks to all of you before us!)
I find myself drifting to this site often and double-checking my numbers...
anyone hear much of Skidaway Island/Savannah and/or St. James Plantation/NC as places to settle?
Bobby P
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
11-23-2010, 01:38 PM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
|
Welcome to the forum.
Do you see anything that concerns you in what you wrote below?
 Quote:
Originally Posted by bpares
...wife is already 'retired', but doesn't want me to retire (and thereby sell our house) just yet. she thinks I should work until my late 60's at least...which is not gonna happen!
|
__________________
Numbers is hard
|
|
|
|
|
11-23-2010, 01:49 PM
|
#3
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Welcome to the forum. I'm curious how you see the numbers. If you sell your house, will you rent?
|
|
|
|
|
11-23-2010, 01:59 PM
|
#4
|
|
Confused about dryer sheets
Join Date: Oct 2010
Location: New Canaan
Posts: 7
|
if we sell the house, we can bank some $800k and buy a lovely place away from the NY metro area for $350-450k. this would still leave us w some $700-800 between 401k and cash, with no mortgage. even w waiting until 67 for SS max - it seems we may be able to pull this off?
|
|
|
|
|
11-23-2010, 02:01 PM
|
#5
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
Quote:
Originally Posted by bpares
...wife is already 'retired', but doesn't want me to retire (and thereby sell our house) just yet. she thinks I should work until my late 60's at least...which is not gonna happen!
Bobby P
|
You are not alone on this board Bobby. You ladies and gents (you know who you are) should form a support group.
ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
|
|
11-23-2010, 02:23 PM
|
#6
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
|
Welcome, I think maybe you should start looking for a job for your DW. This way maybe you can retire earlier.
Only problem for you with your DW's plan is you may not live that long. But at least DW will get the higher amount of your SS.
|
|
|
|
|
11-23-2010, 02:32 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by bpares
.......... it seems we may be able to pull this off?
|
How much do you need to live on per year including taxes and health care?
|
|
|
|
|
11-23-2010, 02:59 PM
|
#8
|
|
Confused about dryer sheets
Join Date: Oct 2010
Location: New Canaan
Posts: 7
|
by initial calcs, we'd like to have $50k/yr, dropping to $40k after 15-20 yrs.
|
|
|
|
|
11-23-2010, 03:00 PM
|
#9
|
|
Confused about dryer sheets
Join Date: Oct 2010
Location: New Canaan
Posts: 7
|
what is 'DW'?
|
|
|
|
|
11-23-2010, 03:07 PM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by bpares
what is 'DW'?
|
Dear Wife
|
|
|
|
|
11-23-2010, 03:11 PM
|
#11
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
|
Quote:
Originally Posted by bpares
what is 'DW'?
|
You can find the answer to that and other forum terms here: http://www.early-retirement.org/foru...rum-34884.html
__________________
Numbers is hard
|
|
|
|
|
11-23-2010, 03:13 PM
|
#12
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Quote:
Originally Posted by bpares
by initial calcs, we'd like to have $50k/yr, dropping to $40k after 15-20 yrs.
|
Getting $50K / year from your $800K doesn't look good. You might want to run the FIRECalc program (see bottom of page).
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
