Mountain skier
Recycles dryer sheets
- Joined
- Dec 26, 2018
- Messages
- 129
I request your insights and opinions on a retirement scenario. My conservative nature is challenged by this scenario. We are considering a major change: going from a house that is worth $350K to $1M...thus our liquidity would go from $1.35M down to $700K.
Age: 60, both DH and DW. We are both retired
Yearly living expenses: $60k (actually $40k- allow $20k for vacations, etc)
DW pension $35k/yr non-cola 100% joint survivor (if she passes before me I still receive same yearly amount)
SS...wife at 62 $15k, at 64 $17K..considering taking at age 64; husband at 67 $25,600
If we bought expensive house we would greatly reduce travel and use the $ to pay the much higher property taxes, insurance, etc. Thus our $40k expenses probably jump into the $50k-$55k range.
Our AA: 27/73 (cash, not bonds)
Is this a feasible idea? I realize my financial comfort level would drop quite a bit. What do you folks think about this?
Thanks
Age: 60, both DH and DW. We are both retired
Yearly living expenses: $60k (actually $40k- allow $20k for vacations, etc)
DW pension $35k/yr non-cola 100% joint survivor (if she passes before me I still receive same yearly amount)
SS...wife at 62 $15k, at 64 $17K..considering taking at age 64; husband at 67 $25,600
If we bought expensive house we would greatly reduce travel and use the $ to pay the much higher property taxes, insurance, etc. Thus our $40k expenses probably jump into the $50k-$55k range.
Our AA: 27/73 (cash, not bonds)
Is this a feasible idea? I realize my financial comfort level would drop quite a bit. What do you folks think about this?
Thanks