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Old 03-10-2011, 12:52 PM   #1
Confused about dryer sheets
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Hi from me

I want to introduce myself. I am a 57 year old retired female with a small pension and my husband is still working. We have about $1M in savings and retirement vehicles. We would like to throw caution to the wind and call it day and both of us retire and travel some of the world while we still can. What is your opinion? We don't plan to travel extensively but once in a couple years. The rest of the small travel will be in a small motorhome.
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Old 03-10-2011, 01:47 PM   #2
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Welcome to the forum, 1q!

We would all love to throw caution to the winds but we are a cautious lot, in general.

The answer is "it depends". Specifically, it depends on what your expenses are now and what they are projected to be in retirement; whether DH (dear husband) will have a pension, whether it is COLA'd, and whether you can get health insurance. The conventional wisdom around here is that you should not plan on spending more than 4% of your nest egg annually ($40K) but there are many other variables. If your investments are all risky, 4% might be too brave. The more information you provide, the more people will chime in with an opinion!
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Old 03-10-2011, 01:48 PM   #3
Recycles dryer sheets
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Join Date: Sep 2010
Location: Allen Park
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As a newcomer here the best advice I can give is to calculate what your living expenses will be and run all your numbers through firecalc. I hope the firegods show a successful path. And welcome to the forum.
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Old 03-10-2011, 01:49 PM   #4
Recycles dryer sheets
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Welcome to the forum!!

As others will tell you, you will need to determine your expenses to include home, food, etc.... to see if your pension(s) and a withdrawal % will maintain your lifestyle without draining your savings. Most recommend using the Fire Calc on this site to test. Other things to consider are health, healthcare costs, and taxes. Seems like a lot, but it is well worth it.
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Old 03-10-2011, 05:56 PM   #5
Recycles dryer sheets
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Welcome. I hope the numbers are kind.

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