dand76
Recycles dryer sheets
Greetings E-R Enthusiasts,
I've made a few posts but haven't officially announced my membership in this club of a wide variety, interesting and knowledgeable people. It has been great reading everyone’s stories, information and advice.
Age is currently 57, DW 56, living in SE Washington. DS is married and off doing his own thing. Planning to retire when I hit 59.5 and the IRA $$ are accessible. Shooting for a net worth of $800k and will have a small pension around $14k/year starting at age 60 (transfers to DW after I croak). We plan to take SS somewhere between 66 and 70 dependent upon how much we’ve drawn down the portfolio. Asset allocation is currently 60/40 stock/bond but will probably lower as we age. Only debt is the house mortgage @ $156k. Hoping to net $100k when it is sold.
Current retirement plan:
Downsize and sell the house.
First few years (until we decide to do something else) – we’ll purchase a motor home large enough for us to live in a few months of the year and slowly explore the country. Spend a month here and there taking in what each area has to offer. The remaining months of the year (when it gets cold up north) will be spent in Mexico or Belize (or beyond if we get braver) living a frugal lifestyle resembling 80% local, 20% tourist.
This plan has a dual purpose – 1st, it is something we’re really looking forward to experiencing and, 2nd, it takes our monthly budget down to the 3-$3.5k/month range (or less). This will help conserve our investments while we make our way to SS age.
At some point (before we get too old) DW wants to get one of those around the world (multi-destination) airline tickets and visit a few places. Greece, Italy, Machu Picchu and other boring places like that. I’ll tag along, of course, just to keep her out of trouble.
After (or If) we get bored with the motor home thing we’ll find a place to settle down that doesn’t have wheels. Location will be determined at a later date. I’m figuring expenses at this point will be in the $45 – 50k/year range (in today’s dollars).
Some suggest that a million + portfolio is necessary but I’m calling $800k + pension + SS as close enough. FireCalc and Fidelity calculators are more optimistic than my spreadsheets and they all say we’re good to go.
Although, DW has recently been hinting at jumping ship in 2016 instead of 2017 so I’ll have to see how that works out in the spreadsheets. I’ve been working in IT since 1980 and started burning out a couple years ago so I’m ready to go at any time if I can get the numbers to work.
It’s great to have a place like this to get outside opinions and suggestions (and confidence boosts) to help us make the plunge into freedom.
Thanks to all,
DanD76
I've made a few posts but haven't officially announced my membership in this club of a wide variety, interesting and knowledgeable people. It has been great reading everyone’s stories, information and advice.
Age is currently 57, DW 56, living in SE Washington. DS is married and off doing his own thing. Planning to retire when I hit 59.5 and the IRA $$ are accessible. Shooting for a net worth of $800k and will have a small pension around $14k/year starting at age 60 (transfers to DW after I croak). We plan to take SS somewhere between 66 and 70 dependent upon how much we’ve drawn down the portfolio. Asset allocation is currently 60/40 stock/bond but will probably lower as we age. Only debt is the house mortgage @ $156k. Hoping to net $100k when it is sold.
Current retirement plan:
Downsize and sell the house.
First few years (until we decide to do something else) – we’ll purchase a motor home large enough for us to live in a few months of the year and slowly explore the country. Spend a month here and there taking in what each area has to offer. The remaining months of the year (when it gets cold up north) will be spent in Mexico or Belize (or beyond if we get braver) living a frugal lifestyle resembling 80% local, 20% tourist.
This plan has a dual purpose – 1st, it is something we’re really looking forward to experiencing and, 2nd, it takes our monthly budget down to the 3-$3.5k/month range (or less). This will help conserve our investments while we make our way to SS age.
At some point (before we get too old) DW wants to get one of those around the world (multi-destination) airline tickets and visit a few places. Greece, Italy, Machu Picchu and other boring places like that. I’ll tag along, of course, just to keep her out of trouble.
After (or If) we get bored with the motor home thing we’ll find a place to settle down that doesn’t have wheels. Location will be determined at a later date. I’m figuring expenses at this point will be in the $45 – 50k/year range (in today’s dollars).
Some suggest that a million + portfolio is necessary but I’m calling $800k + pension + SS as close enough. FireCalc and Fidelity calculators are more optimistic than my spreadsheets and they all say we’re good to go.
Although, DW has recently been hinting at jumping ship in 2016 instead of 2017 so I’ll have to see how that works out in the spreadsheets. I’ve been working in IT since 1980 and started burning out a couple years ago so I’m ready to go at any time if I can get the numbers to work.
It’s great to have a place like this to get outside opinions and suggestions (and confidence boosts) to help us make the plunge into freedom.
Thanks to all,
DanD76