Plenty of Years to Go

[CCBoard]

Hello,

I have been visiting these boards frequently and learning a lot over this time. I am 46 years old and hope to retire at 55 due to the fact that most of my retirement savings will be penalized 10% if I go sooner.

I am married with a six year old son. Our income is about 110k. We a 200k mortgage, but otherwise have no debt.

I currently have 225k in a 401k and 1075k in my company's ESOP.

I've been blessed by the ESOP's performance. I feel similarly nervous about my lack of diversification. Unfortunately, there is little I can do about it until I retire (or leave my company.)

Anyway, just wanted to say hi and to thank everyone for all I have learned and hope to in the coming years.

 

[jim584672]

Hello,

I have been visiting these boards frequently and learning a lot over this time. I am 46 years old and hope to retire at 55 due to the fact that most of my retirement savings will be penalized 10% if I go sooner.

You could do a Roth conversion and wait 5 years, then you would have access to the converted amount (not earnings, just basis) without penalty at 51. Repeat every year to get a delayed stream of income.

72t is another way around the 10% penalty.