THINKER
Dryer sheet wannabe
- Joined
- Oct 21, 2014
- Messages
- 22
Greetings!
I am optimistically introducing myself as “THINKER”. Two Healthy Incomes, No Kids, Early Retirement. Sorry about the all caps. I am not yelling, although I feel like screaming for joy after discovering this board and realizing that we may be able to ER soon!
I am a 47 year old school teacher. My DH is a 46 year old military retiree / current government contractor. I could use some feedback on our situation about ER and look forward to being a part of this online community of like-minded folks.
Assets/ Liabilities:
1.5 M portfolio (65/35) mostly Vanguard indexes
50K in cash, CDs, savings, checking, etc.
Primary house paid for (worth 300K)
Much loved and frequently used vacation house 140K mortgage remaining (worth 300K)
No other debt
Projected Annual Income in ER:
50K DH’s military pension (taxed in our state – boo!)
17K DH’s VA compensation
10K (approx.) from non-reinvested CG and dividends from the non-retirement portion of our portfolio
Plus additional money (5K to 50K) from portfolio rebalancing not to exceed Safe Withdrawal Rate of 4% (the above CG and dividends included)
Additional Info:
Health care provided at low/no cost from military retirement / VA
Current expenses averaging 80K year
Current income from our jobs: 100K for DH. 40K for me.
FIRECalc checked out great!
I purposely did not consider our SS or my future teaching pension as they are both pretty iffy, IMHO.
Currently reading “Work Less, Live More”, have “Bogelheads’ Guide to Retirement Planning” on the nightstand ready to be read, and Nord’s “The Military Guide to Financial Independence and Retirement” on my Amazon Wishlist…to be read during my upcoming Thanksgiving break
The Plan:
Start paying off vacation home mortgage early with pending VA compensation “windfall” of 32K in backpay (due to the famous claim delays it took two years of waiting on DH’s claim)
Hubby retires in eight months, I keep working until vacation home is paid for (He dislikes his job, I love mine.)
The Dream:
Once we both retire, we plan on selling our primary home and use the proceeds to buy another house in a more desirable (and no income tax!) state…say Florida and also an Airstream to travel. Split our time between two houses…one (currently our vacation house) in the NW and the other in the SE. Travel in Airstream in between. Volunteer. Chill. Enjoy.
Concerns / Questions:
Mentally switching from saver to spender. Any tips? This is a biggie for me! We have been save, save, save and buy and hold for so long! Ugh!
Our Asset Allocation. Two conservative in light of the military pension? Too risky in light of the early retirement?
Withdrawal method and where to park the resulting cash. Admittedly totally clueless about this one. Help!
THINKER
I am optimistically introducing myself as “THINKER”. Two Healthy Incomes, No Kids, Early Retirement. Sorry about the all caps. I am not yelling, although I feel like screaming for joy after discovering this board and realizing that we may be able to ER soon!
I am a 47 year old school teacher. My DH is a 46 year old military retiree / current government contractor. I could use some feedback on our situation about ER and look forward to being a part of this online community of like-minded folks.
Assets/ Liabilities:
1.5 M portfolio (65/35) mostly Vanguard indexes
50K in cash, CDs, savings, checking, etc.
Primary house paid for (worth 300K)
Much loved and frequently used vacation house 140K mortgage remaining (worth 300K)
No other debt
Projected Annual Income in ER:
50K DH’s military pension (taxed in our state – boo!)
17K DH’s VA compensation
10K (approx.) from non-reinvested CG and dividends from the non-retirement portion of our portfolio
Plus additional money (5K to 50K) from portfolio rebalancing not to exceed Safe Withdrawal Rate of 4% (the above CG and dividends included)
Additional Info:
Health care provided at low/no cost from military retirement / VA
Current expenses averaging 80K year
Current income from our jobs: 100K for DH. 40K for me.
FIRECalc checked out great!
I purposely did not consider our SS or my future teaching pension as they are both pretty iffy, IMHO.
Currently reading “Work Less, Live More”, have “Bogelheads’ Guide to Retirement Planning” on the nightstand ready to be read, and Nord’s “The Military Guide to Financial Independence and Retirement” on my Amazon Wishlist…to be read during my upcoming Thanksgiving break
The Plan:
Start paying off vacation home mortgage early with pending VA compensation “windfall” of 32K in backpay (due to the famous claim delays it took two years of waiting on DH’s claim)
Hubby retires in eight months, I keep working until vacation home is paid for (He dislikes his job, I love mine.)
The Dream:
Once we both retire, we plan on selling our primary home and use the proceeds to buy another house in a more desirable (and no income tax!) state…say Florida and also an Airstream to travel. Split our time between two houses…one (currently our vacation house) in the NW and the other in the SE. Travel in Airstream in between. Volunteer. Chill. Enjoy.
Concerns / Questions:
Mentally switching from saver to spender. Any tips? This is a biggie for me! We have been save, save, save and buy and hold for so long! Ugh!
Our Asset Allocation. Two conservative in light of the military pension? Too risky in light of the early retirement?
Withdrawal method and where to park the resulting cash. Admittedly totally clueless about this one. Help!
THINKER