Live And Learn
Thinks s/he gets paid by the post
I've been running calculators forever hoping to retire at 50 (August 2013). I actually had two scenarios going - one of which included a severance package of 100k which looked likely. Just found out there will be no severance - they "highly value my work" and will be keeping me on. It seems odd to be bummed out by this news, but that's how I feel.
So now I feel like I need to work OMY to make up for the "lost" severance ! How crazy is that ??
Stats:
Am I nuts ?
So now I feel like I need to work OMY to make up for the "lost" severance ! How crazy is that ??
Stats:
- Age 50, DH 55.
- DH works part time earning 12k to age 62
- 40 year planning horizon
- 2.0mm in assets (50 / 42 / 8 AA; 1mm of that in 401k) after contingencies and not including home equity (180k). Zero debt.
- 150k contingency for one time expenses (roof, car, dog illness, etc)
- 100k contingency for "bucket list vacations"
- 100k to self fund long term care (14 months - after that they can have the house)
- 200k contingency for a 10% market drop
- 2.0 is what I currently use.
- 2.1 was with the severance that will not be.
- 2.2 adds back the 10% market drop contingency but also adds in ad additional 2k / year for better vacations
- 28k HI (19k full Obamacare rate), Dr Visits, Meds, other Out of Pocket
- 17k Home and Utilities (including 1.5% home value for maintenance)
- 6k Taxes
- 3k annual "accrual" for one time expenses
- 33k everything else
Am I nuts ?
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