I have been lurking on this forum for a while. I really appreciate all the expert advice provided by the members of this forum. I have been planning my ER for a couple years now and it just got very 'real' as my company just advertised for my replacement. I will be retiring in August when DW and I will transition to Texas for 2 months (to establish residency), then ship out to Costa Rica to begin the nomadic period of our lives.
I am 55 and DW is 54. We have no children, no real estate, and we are in the process of selling off most of our possessions. We also have no debt and no financial obligations.
Our finances are as follows:
We have a net worth of $2.5m of which $2.4m is in either equities, fixed income or cash. At this moment, my AA is 40% equities, 30% bonds and 30% cash. Pretty conservative.
$500k (of the $2.4m) is in tax advantaged accounts (IRA or Roth) the rest is after tax.
The remaining $100k is in non liquid equity investments or physical assets.
I also have a non-COLA pension of $6k/yr that will start at age 65.
We have prepared a detailed budget for Costa Rica of $6k per month that includes every possible expense, plus a 20% buffer.
I have run Firecalc and it tells me I am 100% for $88k/yr (a $16k buffer) with 100% success with the numbers above. This does not include projected SS at $2,500 for myself and $1,200 for DW. This also doesn't include a potential sizable inheritance for DW of 7 figures and 3 oil wells. We would never want to count on that as we want her parents to spend it all.
I know my retirement plans are different than most I have reviewed on this forum, but I am very interested in hearing any questions our doubts from the esteemed members of this forum.
I am 55 and DW is 54. We have no children, no real estate, and we are in the process of selling off most of our possessions. We also have no debt and no financial obligations.
Our finances are as follows:
We have a net worth of $2.5m of which $2.4m is in either equities, fixed income or cash. At this moment, my AA is 40% equities, 30% bonds and 30% cash. Pretty conservative.
$500k (of the $2.4m) is in tax advantaged accounts (IRA or Roth) the rest is after tax.
The remaining $100k is in non liquid equity investments or physical assets.
I also have a non-COLA pension of $6k/yr that will start at age 65.
We have prepared a detailed budget for Costa Rica of $6k per month that includes every possible expense, plus a 20% buffer.
I have run Firecalc and it tells me I am 100% for $88k/yr (a $16k buffer) with 100% success with the numbers above. This does not include projected SS at $2,500 for myself and $1,200 for DW. This also doesn't include a potential sizable inheritance for DW of 7 figures and 3 oil wells. We would never want to count on that as we want her parents to spend it all.
I know my retirement plans are different than most I have reviewed on this forum, but I am very interested in hearing any questions our doubts from the esteemed members of this forum.