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Old 02-14-2009, 01:28 PM   #1
Confused about dryer sheets
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Hi I'm 57, married, and a military retiree currently working as a DoD civilian. My wife and I would like to retire fully in 2-3 years but like many others find we continue to second guess our retirement decision. We expect our gross income to average about $45K (and will be debt/mortgage free) until SS kicks in and will have medical coverage via the military/TRICARE. I would like to have some feedback from you ER's out there who have retired in a similar situation as we are in and any advice/suggestions that may help alleviate our apprehension. Thanking you in advance.
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Old 02-14-2009, 01:45 PM   #2
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Welcome and I love your screen name.

I'm sure you'll get some helpful responses from our members who have been in your situation.
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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Old 02-14-2009, 04:04 PM   #3
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Originally Posted by Alohapapa View Post
I would like to have some feedback from you ER's out there who have retired in a similar situation as we are in and any advice/suggestions that may help alleviate our apprehension. Thanking you in advance.
E komo mai, Alohapapa. Spouse and I have been on Oahu for nearly 20 years and I've been ER'd for nearly seven years. The details are in my profile.

The next step, if you haven't already done so, is to track your spending and make an ER budget. Taxes will be part of this budget but should be very low-- no state tax on the military/federal pension and perhaps paying capital-gains tax rates instead of income-tax rates.

Once you have a budget, your expenses, and your savings then you're ready to plug the numbers into FIRECalc (FIRECalc: A different kind of retirement calculator). If you're seeking an even more detailed calculator allowing you to spend hours tweaking just about every possible portfolio parameter then it's worth buying a quarter's membership in

You may also want to take a look at FIRE books from the recommended reading list linked by this post:

And finally, check your private messages at the link on the upper right-hand corner of the page. I've sent you additional info for veterans.

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
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