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sinjin here planning to retire in next year, yikes
Old 06-07-2011, 12:48 PM   #1
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sinjin here planning to retire in next year, yikes


Been reading lots o websites for the past year (better late than never) and am still confused as to the best course of action for when we pull the plug. A little advice or pointers in the correct direction would be appreciated.

Our situation:

Me (57): TIAA Traditional Annuity 214k + 168k in DWS funds

Mrsin (59): 401k of 375k + 70k/year DB pension

misc: 100k

No debts except the mortgage which we are not upside down on.

Our ultimate goal is to sell the house and downsize to the southeast.

I am considering taking the TIAA annuity as soon as I retire with the 100% joint survivor rider. I am also considering rolling the DWS $ into the annuity. Mrsin's 401k would be held for the future. Does this make sense?

We are not investment savvy. I'm not even sure I'm asking the right questions, but can someone point out the downsides of this plan? Is rolling the DWS stuff into the TIAA annuity a good idea or a bad idea? I am risk averse, Mrsin is less conservative.

Thanks in advance.

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Old 06-08-2011, 05:42 AM   #2
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Congrats on your strong financial position. Have you been tracking your expenses, so you can estimate your financial needs in retirement? One line item that stands our is the $70k/year DB for Mrsin. Is that available now, or must you wait until age 65? COLA?
It appears that the assets (including DB and anuities) should spinn off at least $92k per year. Plus, that does not include SS or home equity. If your annual expenses are anything below $100k/year, you are in great shape to FIRE now.
Again, Congrats!

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Old 06-08-2011, 08:31 AM   #3
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Thanks for the reply Worker Bee. Mrsin's DB becomes available when he turns 60, unfortunately there is no COLA. He has enough vacation and deferred overtime to stop working 1/1/2011. We have been living pretty well the past several years on less than 70k so it seems we should be able to live on 90k minus taxes. I'm kind of a worrier.
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