jcretire77
Recycles dryer sheets
Writing to you from beautiful Boise, Idaho.
I hesitate to bear my soul even though I read your stories with great interest. I would love to hear your thoughts.
I'm at the point in my life where I think about retirement every single day. After 29 years in the same department maybe this is just a normal feeling.
At 54 I am a newlywed, again. My DW is a couple of years older. We have been together for about three years. We both have nice jobs and together make a little over $200K. I really can't complain about the stress, mostly the boredom and irritation with management and knowing that my salary and job are now static. My DW and I have similar philosophies and have both been savers and have accumulated roughly $2.2 million. She has a paid off condo that we live in. No car payments. No children living at home. Her daughter is attending law school and may need some assistance the 2nd and 3rd year, but also has a fine father who will help. So not a big burden if she needs some assistance.
Monthly expenses vary, but with a couple of vacations a year plus addictions to golf and tennis and money to help my 78 year old mother we probably average about $7300 a month.
HC is an unknown. Fidelity claims about $1000/month each. On line tools say about $675/month, which seems low. SO I estimated about $900 each for a total of $9100/month, $109K/year. Which I think in reality is probably high. I have $1000/month of miscellaneous to cover unknowns such as medical deductibles or new golf clubs.
My biggest concern is my mother, who though healthy and active for her age, still playing tennis, has no plan for long term health care if something goes very badly.
I have not budgeted anything for long term health care insurance for ourselves either. The little bit I have read does not give me confidence in the products or the costs in the future. Maybe parachuting is the way to go.
I've played with FIRECalc, but retirement was always down the road. Today I tried retiring this year. Both the Constant Spending and Bernicke's Reality Retirement Plan spending models say 100% for 36 year retirement. Fidelity says wait until 2015 at age 56, with a $22K shortfall at 90. This is with the 90% conservative setting. I appreciate Fidelity for being more conservative as that fits my own personality. I've always found it funny that with the conservative setting that my beginning assets in two years will be less than what I have today. It could be true. None the less retiring today sounds so appealing. Well maybe next week.
$2250000 assets
$109000 expenses
36 year (54+36=90) retirement
After writing this I am not sure why I am still hesitating . . . .
I hesitate to bear my soul even though I read your stories with great interest. I would love to hear your thoughts.
I'm at the point in my life where I think about retirement every single day. After 29 years in the same department maybe this is just a normal feeling.
At 54 I am a newlywed, again. My DW is a couple of years older. We have been together for about three years. We both have nice jobs and together make a little over $200K. I really can't complain about the stress, mostly the boredom and irritation with management and knowing that my salary and job are now static. My DW and I have similar philosophies and have both been savers and have accumulated roughly $2.2 million. She has a paid off condo that we live in. No car payments. No children living at home. Her daughter is attending law school and may need some assistance the 2nd and 3rd year, but also has a fine father who will help. So not a big burden if she needs some assistance.
Monthly expenses vary, but with a couple of vacations a year plus addictions to golf and tennis and money to help my 78 year old mother we probably average about $7300 a month.
HC is an unknown. Fidelity claims about $1000/month each. On line tools say about $675/month, which seems low. SO I estimated about $900 each for a total of $9100/month, $109K/year. Which I think in reality is probably high. I have $1000/month of miscellaneous to cover unknowns such as medical deductibles or new golf clubs.
My biggest concern is my mother, who though healthy and active for her age, still playing tennis, has no plan for long term health care if something goes very badly.
I have not budgeted anything for long term health care insurance for ourselves either. The little bit I have read does not give me confidence in the products or the costs in the future. Maybe parachuting is the way to go.
I've played with FIRECalc, but retirement was always down the road. Today I tried retiring this year. Both the Constant Spending and Bernicke's Reality Retirement Plan spending models say 100% for 36 year retirement. Fidelity says wait until 2015 at age 56, with a $22K shortfall at 90. This is with the 90% conservative setting. I appreciate Fidelity for being more conservative as that fits my own personality. I've always found it funny that with the conservative setting that my beginning assets in two years will be less than what I have today. It could be true. None the less retiring today sounds so appealing. Well maybe next week.
$2250000 assets
$109000 expenses
36 year (54+36=90) retirement
After writing this I am not sure why I am still hesitating . . . .
I was hoping to work at least one more year, if not two. That may change quickly. 
