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July 1, 2015 looks like the day.
Old 04-23-2014, 06:22 PM   #1
Dryer sheet aficionado
Join Date: Apr 2014
Location: OBX, NC
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July 1, 2015 looks like the day.

I've been planning the process since the spouse decided she would finally retire a few months ago, and so far, the online calculators and planners seem to agree it will work for both of us.

I know I'll have a lot of questions but for now I'll lurk and do searches to see what has been thoroughly covered already.

The only disappointment at this point is the advise I get from my primary account adviser. He insists we need to work at least to 66, and possibly 70.

The wife has a $30k+ pension with full survivor benefits, and health ins. coverage for me. Our combined SS benefit at 64 is $43+ (according to the SSA Benefit Calculator). I have a "pocket money" VFD pension of $2k a year and a $450k+ 401k, with a projected $72k post-retirement budget.

With most of the calculators I've found, including FIRE, I have to get wild with the options to make it fail once. But I'll continue to search here to see if there's something serious I'm overlooking.

Replies and advise on the above will be greatly appreciated.
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Old 04-23-2014, 06:32 PM   #2
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Welcome OBX. A good place to start is here:
Numbers is hard
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Old 04-23-2014, 08:58 PM   #3
Confused about dryer sheets
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Looks like your pensions and SS are greater than your expenses ($75k versus $72K) without touching your 401K. Sounds like it is time to retire.
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Old 04-24-2014, 03:36 PM   #4
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Primary account advisor? Not sure who or what that is but I am betting that they are making at least some money off of you and in turn giving you some very bad advice.
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Old 04-24-2014, 04:51 PM   #5
Dryer sheet aficionado
Join Date: Apr 2014
Location: OBX, NC
Posts: 27
It's the financial adviser at the bank which happens to manage my IRA and 401k. I don't think it's so much a desire to make money off me as it is the standard advice that is accepted as "the thing".

There's been plenty of opportunity to sell me on annuities, insurance, etc. I think he honestly can't see it working as is. They have their own program similar to FIREcalc wich placed me in the 92% success area, which was before I realized I had groosly miscalculated the tax impact.
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Old 04-24-2014, 05:44 PM   #6
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So once you are FIREd you can fire him as you'll then have time to do it yourself. You're on the right track.
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

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