Welcome.
Local gubmit, 50 years old...
You in law enforcement or a firefighter?
Is the local pension solidly funded or are they underfunded?
If your medical is not locked in at a guaranteed rate, you should expect the cost to rise. Local governments (many) are experiencing shortfalls. Even if it looks good now... medical costs will continue to rise.
Yep, you are right.
Actually in very rough figures I make about $130k a year. I can retire up to 90% depending on how long I stay. I am figuring in getting out a bit early, thinking 100k is enough to live on.
I do have a bit more than indicated in mutual funds (about 100k), deferred comp (185k), etc.
I guess what I was thinking, if the worse case scenario. Kinda low ball everything, and if it still looks good, than I am in good shape.
My municipality is trying to go after pensions but there is not much they can do to already retirees. They are drastically going after new hires-- raising retirement contributions, raising the time when you can retire. What they can do to me is raise the amount I contribute to health care, so that is a concern.
I live in Ca and do pay taxes, lots and lots of taxes.
As for the Recession. I meant that I would not want to go through another period where my mutual funds drop so much in value. I do not want that in retirement-- so I would seek safer investments.
You are right-- it comes down to expenses. Actually, my lifestyle is pretty modest. I haven't yet sat down and listed my expenses (I should) but there is nothing extravagant there.
This is a great board. Your comments have been fabulous. Lots of food for thought. I am glad I found this place.