Is another engineer from Texas who was a Navy Veteran (ASW; mostly S2-E with some P3; "Mr. Nords, Please activate the noise makers."), so here I am!
Only began to target RE in the past year or so as for the first 28 years of my career I just liked it. Management changes have created what is now a "toxic" environment that I'm anxious to remove myself from. I've been on a crash course of: this forum, Boglehead forum, Boglehead book, 4 Pillars, ESRBob book, Zelinsky book, and have at least two others to go on my reading table.
Will have been with MegaTech for 30 years in January 2008 (will give me 90% paid medical insurance; and is the last milestone I'm targeting). Current thoughts are to retire in 2008 as soon as I've put my $20.5K into my 401K. (Also quiet on my plans for possible bonus (10K last year) and will collect company profit sharing.)
Myself and DW both 56. DW is a teacher (who still loves her work but may retire next year) and is currently eligible for 80% of her salary as pension.
FireCalc says we're FI (again; my divorce 10 years ago and my Enronesque approach to the Tech bubble with Company stock in 2000/2001 made for a couple of "do-overs"; think 401K became a 101K). Biggest risk remains too much exposure to company stock (stock options).
- No debt (includng mortgage); Should I have paid it off??
- We're poor budgeters, but clearly LBYMers; I've put together a $70K post-retirement budget that has lots of pad.
- DWs pension = ~52K
- 401K plus my pension (assuming lump sum right now) = $900K
- Stock options (10 year options that will continue to vest/run after I retire) = ~$400K
- MegaTech stock from ESPP = $140K
- Vanguard mix of mutual funds, MM, and Junk Bonds = $112K (This is post tax money and is where my stock option money goes when I have to sell. Currenty let options run all the way to 10 year point and then sell; I'm in the second year of having to sell each year.
Well, this is too long; sorry. Glad to formally come aboard as I've enjoyed the info, humor, and spirit of this board. (I read the rules and will have to watch for a tendancy to "over-use" sarcasm.) Oh, and I'm not a financial advisor, don't want to buy your life insurance, and believe variable annuities are bad.