I am fast in approaching my last day of work, 8 months to go as of today. amazing how quick 35 years goes by.. As I try to prepare, after reading many threads, I'm having more and more questions and concerns...
Our story is....
Happy secure marriage of 36 years, healthy and in shape, Kids grown, no student loans, 1 grandson of 10. We have a side saving account for him with about $5K and adding as we can.
Our lifestyle is simple. Self reliant as we can. Rather camp and explore than fly and go on a cruise. 3.5 week trip to Maine cost us about $1500...
Secured loan debt. Camper $9K/ Tractor/backhoe $11K. Vehicles are paid for, but will need to replace my truck at some point, figuring $20K
Home... paid for, but doing a full rebuild, been living in a camper over 3 years. Doing 95% of the work ourselves, but got a long way to go, figuring at least another $35K.. paying as we go.
Outstanding CC debit $2800 @ 0% ..Should be paid off in the next 6 months but adding to it for the next round of building materials. AKA 0% mortgage
Savings... Cash on hand about $35K and trying to keep it in reserve.
My 401K $150K, DW $25K and adding about $1K a month.
Not a lot of money compared to other stories on here, but it is to us.
I will start drawing my pension of $2600/Mo at 58 in January 2022. DW has about 7 more years till her full pension at 60.
I also have plenty of opportunity for PT work.
My health insurance through her work will be $550 month and may cut into her future 401K contributions. She will have coverage till Medicare.
My 401K.. I can roll it into my pension... (mama always said dont put all your eggs in the same basket.)
I can leave it there as a nest egg but I can't add to it, or roll it some place else. The DW will be the same deal in the future.
I would like to start another account of some kind, IRA or stock investment to play with... but have no clue what im doing.
We would like to add extra money for added investment /savings.
so this would give us...
My pension, 401K as a nest egg and SS when its needed
DW pension, 401K also a nest egg and SS when needed
A separate investment account to try and make money with.
Any opinions or suggestions?
Our story is....
Happy secure marriage of 36 years, healthy and in shape, Kids grown, no student loans, 1 grandson of 10. We have a side saving account for him with about $5K and adding as we can.
Our lifestyle is simple. Self reliant as we can. Rather camp and explore than fly and go on a cruise. 3.5 week trip to Maine cost us about $1500...
Secured loan debt. Camper $9K/ Tractor/backhoe $11K. Vehicles are paid for, but will need to replace my truck at some point, figuring $20K
Home... paid for, but doing a full rebuild, been living in a camper over 3 years. Doing 95% of the work ourselves, but got a long way to go, figuring at least another $35K.. paying as we go.
Outstanding CC debit $2800 @ 0% ..Should be paid off in the next 6 months but adding to it for the next round of building materials. AKA 0% mortgage
Savings... Cash on hand about $35K and trying to keep it in reserve.
My 401K $150K, DW $25K and adding about $1K a month.
Not a lot of money compared to other stories on here, but it is to us.
I will start drawing my pension of $2600/Mo at 58 in January 2022. DW has about 7 more years till her full pension at 60.
I also have plenty of opportunity for PT work.
My health insurance through her work will be $550 month and may cut into her future 401K contributions. She will have coverage till Medicare.
My 401K.. I can roll it into my pension... (mama always said dont put all your eggs in the same basket.)
I can leave it there as a nest egg but I can't add to it, or roll it some place else. The DW will be the same deal in the future.
I would like to start another account of some kind, IRA or stock investment to play with... but have no clue what im doing.
We would like to add extra money for added investment /savings.
so this would give us...
My pension, 401K as a nest egg and SS when its needed
DW pension, 401K also a nest egg and SS when needed
A separate investment account to try and make money with.
Any opinions or suggestions?
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