MuirWannabe
Thinks s/he gets paid by the post
- Joined
- Oct 14, 2009
- Messages
- 2,115
Suppose its what this community specializes in doing. I'd like feedback/comments/critique on my FIRE plan. Thanks for your help!
DW is already retired. I'm wanting to ER in March. I will be 53.
Annual expenses are $125,000-$130,000. I know this is high but I've tracked for some time and this is what it is. I'm pretty certain these expenses will decrease after about 10-15 years. But not in the beginning. These expenses are fully loaded with taxes, healthcare, and all other assumptions built in (hopefully).
Nest egg is ~$3.5 million with about 50/50 in taxable and tax deferred at an AA of 55/45. Low cost index funds. Hope to do some Roth conversions for the first few years. Also, expect about $25K annually from SS at 62 if we choose to file then. No pension or other income sources. Living solely off the nest egg and SS eventually.
Firecalc says 100% and other calculators look promising.
I'm excited to ER and confident in staying busy. In fact, my intentions are to probably thru hike the PCT next year shortly after starting my new retirement. Sort of a transition into a new phase of life.
At any rate, what are your thoughts? Am I covered? Would you do it?
Thanks!
Muir
DW is already retired. I'm wanting to ER in March. I will be 53.
Annual expenses are $125,000-$130,000. I know this is high but I've tracked for some time and this is what it is. I'm pretty certain these expenses will decrease after about 10-15 years. But not in the beginning. These expenses are fully loaded with taxes, healthcare, and all other assumptions built in (hopefully).
Nest egg is ~$3.5 million with about 50/50 in taxable and tax deferred at an AA of 55/45. Low cost index funds. Hope to do some Roth conversions for the first few years. Also, expect about $25K annually from SS at 62 if we choose to file then. No pension or other income sources. Living solely off the nest egg and SS eventually.
Firecalc says 100% and other calculators look promising.
I'm excited to ER and confident in staying busy. In fact, my intentions are to probably thru hike the PCT next year shortly after starting my new retirement. Sort of a transition into a new phase of life.
At any rate, what are your thoughts? Am I covered? Would you do it?
Thanks!
Muir