Hi all,
I've been lurking here for a while and I respect the wisdom of the folks on this forum so I thought I'd reach out to see you what you think about my situation.
I'm 46 years old , DH is 43. I'm hoping to retire by 50.
We own a condo in SF Bay Area with <100k mortgage. We plan to rent it out when we retire and live in our weekend home in the mountains. It will be paid for by the time we stop working.
We currently have 670k in tax advantage accts and 250k in taxable accts. For a total of 920k. We contribute at least 20k per year to the tax advantage accts.
Our annual expenses in retirement are expected to be 84k. This figure allows for some wiggle room as there is approx 12k in discretionary expenses. It also accounts for large items such as new roof/siding/Windows/tile/car/etc.
We expect to get 36k per year in rent from condo so we'll need 48k from investments.
My SS at. FRA is 18k and DH is 12k annually.
Any thoughts?
I've been lurking here for a while and I respect the wisdom of the folks on this forum so I thought I'd reach out to see you what you think about my situation.
I'm 46 years old , DH is 43. I'm hoping to retire by 50.
We own a condo in SF Bay Area with <100k mortgage. We plan to rent it out when we retire and live in our weekend home in the mountains. It will be paid for by the time we stop working.
We currently have 670k in tax advantage accts and 250k in taxable accts. For a total of 920k. We contribute at least 20k per year to the tax advantage accts.
Our annual expenses in retirement are expected to be 84k. This figure allows for some wiggle room as there is approx 12k in discretionary expenses. It also accounts for large items such as new roof/siding/Windows/tile/car/etc.
We expect to get 36k per year in rent from condo so we'll need 48k from investments.
My SS at. FRA is 18k and DH is 12k annually.
Any thoughts?