Hi from North Carolina (63, m; 62 f)

[BrigitteJ]

Hi all,
Sadly, we aren't retiring early as we plan to do so in 2024 and 2025 respectively (the aged 64/f and 66/m). We're just here to learn from you all.
Just to disclose:
We have about 2 mill saved (used to be $2.9...) in various investments, including $300k in bond markets to withdraw for four years while the markets recover (using the three bucket approach). House and cars paid off; kids nearly all gone (one more in college, with college fund). Net worth is 2.4 mill. As college professors, we get free health insurance from our state in retirement.
Ultimate goal is to retire to Portugal after all kids are financially stable. I (f; 62) am from Europe.
I've already bookmarked the important trigger income level post by Gumby -- that's important work!
Thanks for having us!

 

[Gumby]

Welcome aboard, BrigitteJ. I look forward to hearing more about your FIRE journey. Here is a thread from last month about retiring in Portugal, which you may find helpful. https://www.early-retirement.org/forums/f29/its-like-cheating-115562.html

 

[harllee]

Hello and welcome from another North Carolinian. Looks to me that you plenty to retire on, especially with free health insurance. East Carolina? That's where my husband went to school, music major.

 

[old medic]

Welcome from the edge of the Blue Ridge.

 

[RxMan]

Welcome from another North Carolinian. Sounds like you have a great plan.

 

[DrRoy]

Sounds good to me.

 

[Bigdawg]

OP, welcome to the forum. Lots of great information on here. Curious, at your current ages (early 60's) what were/are you invested in (AA) that you lost aprox 33% (2.9 mil down to 2 mil) of your stash? Seems maybe at your age you should be invested a bit more conservative. I just turned 57 and have only lost 15% or so. But we also have mutiple COLA pensions and my DW is only 51. Good luck to you and a quick market recovery.

 

[Dtail]

Welcome to the forum. Lots of good info to absorb here.

 

[latexman]

Welcome from another North Carolinian. I would guess, as retiring state college professors, both of you may also have a nice state (COLA’d!) pension, in addition to the free health insurance. Go to FireCalc (the link is on the RHS, maybe near the bottom), read all the info. carefully, and model your retirements. I strongly suspect it will say you can retire now, if you wanted to.

I have one doubt, is your health insurance free outside of NC or outside the US? But, I also suspect healthcare in Portugal will be within your budget anyway.

You’ve come to the right place!

 

[pacergal]

welcome to the forum.

 

[ncbill]

Welcome from another NC guy.

 

[cyber888]

Welcome. I guess you can retire comfy with State healthcare. But I think the concern is getting your kids financially stable ? That's a balancing act. I'm also in NC.

 

[BGH1]

NC here as well !

 

[jazz4cash]

Just to disclose:

We have about 2 mill saved (used to be $2.9...) in various investments, including $300k in bond markets to withdraw for four years while the markets recover (using the three bucket approach).

:

Welcome! Those losses don’t seem reasonable in this market….over 30%

 

[skyking1]

Welcome aboard!
Quick question, how does that health coverage work when you move to Portugal?

 

[cyber888]

Welcome aboard!
Quick question, how does that health coverage work when you move to Portugal?

Hmm.. that's a problem. Probably won't be covered in Portugal.

 

[Koolau]

Welcome BrigitteJ. Thanks for sharing. Be sure to check back often with your progress.

 

[RVplusDog]

Welcome from Transylvania county NC! Retirement is fantastic in the mountains!

 

[Koolau]

Welcome from Transylvania county NC! Retirement is fantastic in the mountains!

In the mountains, on the coast, in the desert, on the frozen tundra, in the rain forest. In short: Retirement is fantastic!

 

[Born2Fish]

Welcome from the NC coast!!

DD attended ECU. I spent a few working years commuting to Greenville.