Here is my story. 48 years old this june. Want/need to quit my job-job not going well. Have wife and 2 kids ages 15 and 10.
in taxable account: $212,000
457 : 141,000
roth ira: 290,000
expenses about 66,000/year.
House will be paid off in 2.9 years, and that money can be used for living expenses for child in college....tuition is taken care of for both children.
income about $30,000/year, after I quit my job, but will have to buy health insurance.
at age 60, pension will kick in at $30,000/year.
at 67 social security will kick in at $36,000/year. I have done lots of retirement calculators....and hope to get a job, but not sure when or how much...might be $10/hour job.
?? Thank you in advance. Worried I will run out of money, but if I do, could always sell the house, and have $250,000, but will need to find other shelter.