Hello all,
Long time lurker and have really appreciated the knowledge/entertainment from reading all of the posts.
I believe I will be in the class of 2017.
Facts: I am 56, spouse is 54. I work for a megacorp and am currently at an executive position. My DW does not work outside the home; she is a degreed teacher but gave it up early on because my job made me so undependable and somebody had to take care of the house and kids. Said kids (two daughters) are now 30 and 28 and both have good jobs and are independent. Finances are below:
750k in 401k
360k in taxable brokerage accounts
25k in mine/spouse traditional IRAs (stupid move not to have started them earlier)
500k in company stock that vests on my retire date (this value is after taxes)
1.1M in SERP lump sum (I figure I will get 700k of that after taxes)
Pension is really good: 149k per year (before taxes, non-COLA)
SS will add about 25k per year eventually but not factoring that in.
I figure spending will be about 100k per year.
No debt except still owe 285k on a Marco Island, FL condo. I think I will just pay it off upon retirement for peace of mind reasons. Already own primary residence in Midwest. Both daughters are getting married within 6 weeks of each other in 2017 and I have 60k set aside for that (are you kidding me girls, really?).
My master plan is to invest in Vanguard index funds (Total Stock, Total Bond, International Stock, International Bond) and just let everything just reinvest in those funds. Basically, just live off the pension until inflation says I can't. Other taxable accounts will have blue chip dividend stocks that just reinvest also.
Firecalc says I can retire tomorrow but there are a few work things I want to complete at work (I know, stupid, but I don't want to feel like a "quitter" the rest of my life).
Anyway, put me down for October 2017!
Sent from my iPad using Early Retirement Forum
Long time lurker and have really appreciated the knowledge/entertainment from reading all of the posts.
I believe I will be in the class of 2017.
Facts: I am 56, spouse is 54. I work for a megacorp and am currently at an executive position. My DW does not work outside the home; she is a degreed teacher but gave it up early on because my job made me so undependable and somebody had to take care of the house and kids. Said kids (two daughters) are now 30 and 28 and both have good jobs and are independent. Finances are below:
750k in 401k
360k in taxable brokerage accounts
25k in mine/spouse traditional IRAs (stupid move not to have started them earlier)
500k in company stock that vests on my retire date (this value is after taxes)
1.1M in SERP lump sum (I figure I will get 700k of that after taxes)
Pension is really good: 149k per year (before taxes, non-COLA)
SS will add about 25k per year eventually but not factoring that in.
I figure spending will be about 100k per year.
No debt except still owe 285k on a Marco Island, FL condo. I think I will just pay it off upon retirement for peace of mind reasons. Already own primary residence in Midwest. Both daughters are getting married within 6 weeks of each other in 2017 and I have 60k set aside for that (are you kidding me girls, really?).
My master plan is to invest in Vanguard index funds (Total Stock, Total Bond, International Stock, International Bond) and just let everything just reinvest in those funds. Basically, just live off the pension until inflation says I can't. Other taxable accounts will have blue chip dividend stocks that just reinvest also.
Firecalc says I can retire tomorrow but there are a few work things I want to complete at work (I know, stupid, but I don't want to feel like a "quitter" the rest of my life).
Anyway, put me down for October 2017!
Sent from my iPad using Early Retirement Forum