After spending 5 years post retirement aboard our sailboat we are back on land house shopping in this crazy market. Our questions revolve around spending cash and retirement savings on the purchase. We know we are going to overpay for the house already
I am considering a 40% downpayment and a mortgage for the rest. Any advice is greatly appreciated.
Home purchase $750-$950k
Cash on hand $520k
Retirement accounts 70/30 VTI/BND $1.1Mil.
ROTH's $220k
TIRA $730k
Taxable $150k
We have been living well off my cola Govt. pension, but depending on size of mortgage will be needing to draw up to $70k per year from retirement accounts which we can easily adjust annually by forgoing international travel and other stuff we don't need to do in down markets. Depending on which spending models used in Firecalc I get good results.
Another related question is when using Firecalc what spending models are folks using? Huge differences among the three choices. In my modeling I have always used constant spending power with 3% as the constant. Using the other two gives much more favorable results for my current scenarios.
Me 58 Pension with no SS coming
Spouse 61 no pension, but will get SS looking at delaying until 67 at about $22k annually.
Hope all are well.
I am considering a 40% downpayment and a mortgage for the rest. Any advice is greatly appreciated.
Home purchase $750-$950k
Cash on hand $520k
Retirement accounts 70/30 VTI/BND $1.1Mil.
ROTH's $220k
TIRA $730k
Taxable $150k
We have been living well off my cola Govt. pension, but depending on size of mortgage will be needing to draw up to $70k per year from retirement accounts which we can easily adjust annually by forgoing international travel and other stuff we don't need to do in down markets. Depending on which spending models used in Firecalc I get good results.
Another related question is when using Firecalc what spending models are folks using? Huge differences among the three choices. In my modeling I have always used constant spending power with 3% as the constant. Using the other two gives much more favorable results for my current scenarios.
Me 58 Pension with no SS coming
Spouse 61 no pension, but will get SS looking at delaying until 67 at about $22k annually.
Hope all are well.