I have been lurking for a while and decided you guys have the best RE board on the internet.* *
A little history:
Age 53; still working but looking to pull the plug when wife does in 2 years.* She is waiting for ER pension so waiting is required.
I have ER'd once already after 24 years with the same company.* Previous wife (deceased) retired when I did a couple of years ago after 34 years with the same company.* She had all of 7 months in retirement.*
* I am not going to let that happen to me.*
Current employeer has only a 401(k); and I am fully invested to get the full match.* Wife (remarried) gets the full deal when she retires; 401(k), small pension, full medical and dental, etc.* I have small pension and full medical from previous retirement but as using current employer's plans as they are less exensive.*
We will have about $40K in combined pensions; $prior company 401(k)s are in IRAs now.*
I would be out now but we also carry three mortgages, house, cabin, and a condo that will be sold soon.* Cars are paid off but will need to be replaced one at a time over the next few years.* So expenses will continue to be above just the pension amounts so I will need to draw on cash, stock options (if they every get above water)*
* Will need to tap IRA with a 72(t) before age 59.5 but even so, we should be fine.* Short term expenses vs income will be a challenge but longer term we should end up with a nice chunk for the kids unless we decide to spend down to the last dime and let the kids do it all the hard way like we have.
Nice to read your comments here without all the BS and flaming so common of many other boards.
I look forward to a long and fruitful discussion with you all.