two4theroad
Recycles dryer sheets
Hello to all, I have not posted into this topic before but am combining some other posts here to introduce my self.
I am 48 and DH is 57. I wanted to quit my job at the first of 07 as my job was ruining my health. Husband wanted to continue until 59.5 even though his job had higher stress level than mine. I was consulting a CPA/planner to doublecheck my firecalc results and get some input into tax repercussions of 72t vs. NUA etc . I had already been squirreling away aftertax money into cds and mm in preparation for the change. I finally talked DH into going in to see the CPA with me hoping that he could convince DH that I could afford to pull the plug as he did not have much faith in the online calculators. I sent all our tax stuff and investments in to him 3 weeks before the appt so he would have all the info. When we got there the meeting went on for about 15 minutes before he said to my husband that with our spending projections and our investments not only could I quit but there was no reason for him to continue to work unless he was really enjoying his job. To make a long story short DH decided that he would continue on for 2 more years. But 3 months later there was a shake up and he was laid off. He was very unhappy at first but now we believe that it was meant to be. We are fine financially and still feel like we are on vacation 6 months later. We are both healthier and feel years younger. It is amazing what stress does to a person! He would not have quit and would probably have wanted me to continue as well so it was a blessing in disguise. It was fortuitous that we were already FI before we were RE a bit earlier than we had planned.
This is what I credit with the ability to retire early for us.
1. Parents who taught me the basics of money.... saving, compounding and the difference between want and need.
2. Starting a job while still young with a new company who had cheap stock, a 401 K and pension plan.
3. Good health, good marriage and 25 years of a uninterrupted work and saving.
4. Company stock that is now worth over 10 times what I paid for it!!!
5. Company pension for him now and mine at 62.
Add all that up and you get early retirement at 48.
I am now setting up the transfer from 401K to Vanguard and will have questions after their phone call.
I specifically have some concerns about the NUA treatment of our company stock as we transition from 401K to Vanguard. What would be the best way to handle it etc.....
I am 48 and DH is 57. I wanted to quit my job at the first of 07 as my job was ruining my health. Husband wanted to continue until 59.5 even though his job had higher stress level than mine. I was consulting a CPA/planner to doublecheck my firecalc results and get some input into tax repercussions of 72t vs. NUA etc . I had already been squirreling away aftertax money into cds and mm in preparation for the change. I finally talked DH into going in to see the CPA with me hoping that he could convince DH that I could afford to pull the plug as he did not have much faith in the online calculators. I sent all our tax stuff and investments in to him 3 weeks before the appt so he would have all the info. When we got there the meeting went on for about 15 minutes before he said to my husband that with our spending projections and our investments not only could I quit but there was no reason for him to continue to work unless he was really enjoying his job. To make a long story short DH decided that he would continue on for 2 more years. But 3 months later there was a shake up and he was laid off. He was very unhappy at first but now we believe that it was meant to be. We are fine financially and still feel like we are on vacation 6 months later. We are both healthier and feel years younger. It is amazing what stress does to a person! He would not have quit and would probably have wanted me to continue as well so it was a blessing in disguise. It was fortuitous that we were already FI before we were RE a bit earlier than we had planned.
This is what I credit with the ability to retire early for us.
1. Parents who taught me the basics of money.... saving, compounding and the difference between want and need.
2. Starting a job while still young with a new company who had cheap stock, a 401 K and pension plan.
3. Good health, good marriage and 25 years of a uninterrupted work and saving.
4. Company stock that is now worth over 10 times what I paid for it!!!
5. Company pension for him now and mine at 62.
Add all that up and you get early retirement at 48.
I am now setting up the transfer from 401K to Vanguard and will have questions after their phone call.
I specifically have some concerns about the NUA treatment of our company stock as we transition from 401K to Vanguard. What would be the best way to handle it etc.....
