swampd
Confused about dryer sheets
Good morning, All!
I found this great forum just recently - wish I had thought to look for it sooner!
I am a 56 year old systems engineer in Chantilly, VA. I retired from the USAF in 1996, but have to share my retirement income from that career with my 1st wife, leaving me with ~$19K/year (taxable) from that. I am looking to retire from my second career as a government consultant within the next year - retire-retire, that is, to enjoy my hobbies (R/C aircraft, golf, etc.). I am married to a younger woman, 12 years my junior, have one older son from my first marriage (married himself with two kids - independent), a 12 year old daughter, and a 9 year old son, both of which have pre-paid education plans going (VPEP). I have ~$1.75M in a 401k, but that's about it as far as investments go. Our current employer (we both work for the same company) is a very generous contributor (regularly exceeds 10%) to our 401k plans through T. Rowe Price. We live in Chantilly, VA, in a ~$600K home with about $500K mortgaged. I make about $180K/year and my better half makes about $100K/year working 30 hours/week.
So, what do you think, folks? Can I reasonably expect to be able to stop work at this point? I don't know if I can keep pace with the hours and travel required by my current position and I'm very much looking forward to a less stressful existence. My wife is uncertain about continuing to work - she has had limitations along her career path and I'm supportive of her pursuing that, but I think the prospect of not having to work appeals to her as well. We've already been informed by our daughter that she very much wants to graduate from her current HS, so we'd like to avoid having to move from one of the highest cost of living areas in the country for another 5 years.
Recent events at work have triggered a keen interest in pursuing retirement sooner rather than later, so any advice from this forum will be greatly appreciated!
Thanks!
I found this great forum just recently - wish I had thought to look for it sooner!
I am a 56 year old systems engineer in Chantilly, VA. I retired from the USAF in 1996, but have to share my retirement income from that career with my 1st wife, leaving me with ~$19K/year (taxable) from that. I am looking to retire from my second career as a government consultant within the next year - retire-retire, that is, to enjoy my hobbies (R/C aircraft, golf, etc.). I am married to a younger woman, 12 years my junior, have one older son from my first marriage (married himself with two kids - independent), a 12 year old daughter, and a 9 year old son, both of which have pre-paid education plans going (VPEP). I have ~$1.75M in a 401k, but that's about it as far as investments go. Our current employer (we both work for the same company) is a very generous contributor (regularly exceeds 10%) to our 401k plans through T. Rowe Price. We live in Chantilly, VA, in a ~$600K home with about $500K mortgaged. I make about $180K/year and my better half makes about $100K/year working 30 hours/week.
So, what do you think, folks? Can I reasonably expect to be able to stop work at this point? I don't know if I can keep pace with the hours and travel required by my current position and I'm very much looking forward to a less stressful existence. My wife is uncertain about continuing to work - she has had limitations along her career path and I'm supportive of her pursuing that, but I think the prospect of not having to work appeals to her as well. We've already been informed by our daughter that she very much wants to graduate from her current HS, so we'd like to avoid having to move from one of the highest cost of living areas in the country for another 5 years.
Recent events at work have triggered a keen interest in pursuing retirement sooner rather than later, so any advice from this forum will be greatly appreciated!
Thanks!