HomesteadDreamer
Dryer sheet wannabe
- Joined
- Dec 25, 2013
- Messages
- 24
My wife (46) and I (48) are both retired from the military. I was active duty and receive around $3K/month in my pension. She was active/duty and guard, receives $2K/month in disability now and will receive about $1.5K/month when she turns 60. We have a little over $300K in our TSP that we plan on keeping in until we turn 60 and then start modest withdrawals. We have 2 kids, which are both in their 20s and have their own jobs with benefits.
I am currently a federal employee and have been for the past 6 years. However, my wife and I have been seriously thinking about settling down and buying a small farmhouse in the country and enjoy the things we like to do (garden, camp, hunt/fish, etc.,). I anticipate that our total monthly expenditures in full retirement would be about $4.5K/month (including medical, covered by Tricare and VA). At this time, we make about $400-500 more than that without me even working, so I think we would be fine if I resigned/retired early from my current job...especially given that we will have at least another $2K/month coming in when we hit our early 60s (not counting SS, so it would likely be a little more).
So, my question is, do you see any major flaws in the idea to retire in the next year or so? We want to enjoy our years between 50-60 and not continue to grind away at a job each day until I'm 60+.
Thoughts?
I am currently a federal employee and have been for the past 6 years. However, my wife and I have been seriously thinking about settling down and buying a small farmhouse in the country and enjoy the things we like to do (garden, camp, hunt/fish, etc.,). I anticipate that our total monthly expenditures in full retirement would be about $4.5K/month (including medical, covered by Tricare and VA). At this time, we make about $400-500 more than that without me even working, so I think we would be fine if I resigned/retired early from my current job...especially given that we will have at least another $2K/month coming in when we hit our early 60s (not counting SS, so it would likely be a little more).
So, my question is, do you see any major flaws in the idea to retire in the next year or so? We want to enjoy our years between 50-60 and not continue to grind away at a job each day until I'm 60+.
Thoughts?