Hexanova
Dryer sheet aficionado
- Joined
- Mar 10, 2013
- Messages
- 28
Hey all, been perusing the site for a couple years but recently started getting serious about retiring early. I think we're on the right track, and a combination of accumulating assets (surprisingly, it snuck up on me a bit) and burnout are weighing heavily on me.
I'm an engineer and have been working most recently in a very high stress and competitive Fortune 50 high tech company and I want out ASAP. Before that it was school, grad school, then bouncing around jobs a bit before being able to get established.
Here's where we sit...
Married (me 48 engineer/ wife 45 teacher), we are partners in this endeavor and in it until the end
No kids
Would like to retire Jan 1, 2020 (me 55, wife 52)
Wife would get ~$500/month pension
I would get little to no pension (it's dependent on company 401k balance when you leave the company)
Current assets:
-$525K combined in our 401k/403b accounts
-$250K in other cash, equities, bonds, mutual funds
-$250K in company stock (some of it returning up to 8% dividend yield due to purchase discounts)
-$200K in home equity
---------------------
~$1.25 million
Debts:
-$150k on house @ 3.25% which will be paid off in 6 years.
-No car, credit card, etc, debt
-No plan to take on any additional debt
Future savings/investing (yearly for next 7 years):
-$17.5K in to 401K
-$10K in to wife's retirement account
-$87K pumped in to other cash, equities, bonds, mutual funds, depending on conditions, etc
-$20K company stock (purchased at discount, and stock awards)
-$3k in to tax deferred HSA
I've run the numbers on some retirement calculators, and I have my own spreadsheet that does some modeling...and things seem on track. Unless things really go down the crapper in the next 6-7 years my conservative estimate is about $3 million in assets when we hit 55/52. Naturally the one and only thing that scares me (and pisses me off) is medical care. It's like a gigantic black hole in all of our plans. If it weren't for that I'd be going in to work every day for the next 7 years whistling and laughing at all the utter garbage I have to deal with.
Can anyone offer some wisdom and (hopefully) words of encouragement based on their FIRE experiences?
Thank you. (sorry for the long post )
I'm an engineer and have been working most recently in a very high stress and competitive Fortune 50 high tech company and I want out ASAP. Before that it was school, grad school, then bouncing around jobs a bit before being able to get established.
Here's where we sit...
Married (me 48 engineer/ wife 45 teacher), we are partners in this endeavor and in it until the end
No kids
Would like to retire Jan 1, 2020 (me 55, wife 52)
Wife would get ~$500/month pension
I would get little to no pension (it's dependent on company 401k balance when you leave the company)
Current assets:
-$525K combined in our 401k/403b accounts
-$250K in other cash, equities, bonds, mutual funds
-$250K in company stock (some of it returning up to 8% dividend yield due to purchase discounts)
-$200K in home equity
---------------------
~$1.25 million
Debts:
-$150k on house @ 3.25% which will be paid off in 6 years.
-No car, credit card, etc, debt
-No plan to take on any additional debt
Future savings/investing (yearly for next 7 years):
-$17.5K in to 401K
-$10K in to wife's retirement account
-$87K pumped in to other cash, equities, bonds, mutual funds, depending on conditions, etc
-$20K company stock (purchased at discount, and stock awards)
-$3k in to tax deferred HSA
I've run the numbers on some retirement calculators, and I have my own spreadsheet that does some modeling...and things seem on track. Unless things really go down the crapper in the next 6-7 years my conservative estimate is about $3 million in assets when we hit 55/52. Naturally the one and only thing that scares me (and pisses me off) is medical care. It's like a gigantic black hole in all of our plans. If it weren't for that I'd be going in to work every day for the next 7 years whistling and laughing at all the utter garbage I have to deal with.
Can anyone offer some wisdom and (hopefully) words of encouragement based on their FIRE experiences?
Thank you. (sorry for the long post )
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