I am planning for a ER in early fifties. I am 42 and wife is 41.
If you had following pots of saving on the day of ER (say at age 55); then how would your stack up your withdrawals.
457B (NDQC) – 400K- No withdrawal restrictions
Cash from the sale of house (will move to our rental house which is smaller & both houses paid)- 500K and can use this money for whatever we want to
Retirement accounts (IRA's)- 1.5M
Pension at 65: 3500 (COLA included)
SS (wife and I) at 65: 2500 Husband and 1200 Wife
Kids college will be fully paid through a separate 529; so not included in the numbers above.
If you had following pots of saving on the day of ER (say at age 55); then how would your stack up your withdrawals.
457B (NDQC) – 400K- No withdrawal restrictions
Cash from the sale of house (will move to our rental house which is smaller & both houses paid)- 500K and can use this money for whatever we want to
Retirement accounts (IRA's)- 1.5M
Pension at 65: 3500 (COLA included)
SS (wife and I) at 65: 2500 Husband and 1200 Wife
Kids college will be fully paid through a separate 529; so not included in the numbers above.