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Old 07-20-2007, 11:35 AM   #1
Confused about dryer sheets
Join Date: Jul 2007
Location: So. Georgia
Posts: 2
New to board, thinking about retiring.

Hello Everyone -

My name is Todd, I live in South Georgia and I am thinking about retiring so here are some personal details to let you know where I stand.

I am 45 yoa , male , married 26 years (to the same person) wife is 43 yoa.
Have worked since I joined the military at age 17, wife has worked since age 18. We have never had any children.

My job is a local government one with average income level for our area, wife's job as a health care professional has above average income for our area.

We are debt free, we owe nothing to no one, we do have monthly bills such as gasoline, telephone, cable , electric and food. We have yearly bills such as taxes, insurance and license fees for our vehicles, we currently own four vehicles (3 Porsche's , 1 Ford Truck) all are in good repair.

As stated above our home is paid for, it is fairly large for just the two of us, 2800 sq ft with an attached 1150 sq ft four car garage, we also have a barn and horse stalls, house is on 5 acres.

I have earned two vested retirements, one military and one local government, the military is based on 10 years of active service and 14 years of reserve so it is fairly decent but I cannot draw this until age 60.
The other retirement is a state high risk one which is based on 17 years service but I cannot draw until I reach age 55. I would also get SSI at some point along with my wife. My wife has two retirement accounts one is a 401 K which she has been doing very well with over the years the other is a small fund (non contributing) that the hospital gives to each employee.

Right now I have free full healt care, vision and dental through my job, I pay a small fee to have my wife added to this plan ($160 a month), we also are entitled to full military health and dental at this time.

We have appx $200 K in an interest bearing savings account, we also have appx $100 K in some assets which we seldom use and could liquidate if an emergency came up.

++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++

Bottom line , I am thinking about pulling the plug at work and just doing stuff around the house, and maybe some odd work here and there, the wife is not yet ready to pull the plug and plans on working for a little while , but might work less hours,

We currently use my pay for living, and all hers goes directly into the savings account.

As a hobby we buy and refurbish houses in our area, we have been quite successfull in this but loose some money each time due to capital gains.

++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++

So thats it,

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Old 07-20-2007, 03:38 PM   #2
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Join Date: Feb 2004
Location: minnesota
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Tough to comment until we see pictures of the three Porsches.

Why so much in a savings account? High interest rate?

Welcome to the forum.

No more lawyer stuff, no more political stuff, so no more CYA

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Old 07-20-2007, 03:41 PM   #3
Confused about dryer sheets
Join Date: Jul 2007
Location: So. Georgia
Posts: 2
Martha -

Go to Pelican Parts dot com, just look under my screen name over there, tons of pic's for you to look

The savings account is a holding tank for our house restoration endeavors, the balance goes up and down as properties are bought and sold, I just used an average figure , it has been as high as three times that amount,

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Old 07-22-2007, 03:34 PM   #4
Recycles dryer sheets
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Join Date: Jul 2007
Location: Orem/Provo
Posts: 231
I went to PelicanParts dot com, saw lots of pictures, but didn't see a forum and couldn't find your name. How about a little more information to help us find your cars?

To find out if you can retire, run the advanced version of FIRECalc, located here. That's a good starting point to see if you are financially ready for FIRE. Only you can decide if you're emotionally ready. After all, you might find out that you need to sell one of your Porches!
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Old 07-22-2007, 08:08 PM   #5
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Join Date: Feb 2006
Posts: 29
Originally Posted by K9Torro View Post
Hello Everyone -
we currently own four vehicles (3 Porsche's , 1 Ford Truck) all are in good repair.
Glad to see that you've got the Cayman rather than the Boxster. Never liked Boxsters for some reason.
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