Any comments welcome. Plan to pull the trigger in August of this year at 56. Been with same company 33-years with 401k and Pension. My bride and I track every penny we spend so we know what expenses will be, however, I added 8% just as a buffer. Company stopped pension this year so rolled it over to 401k and smartly allocated with help of professional. Wife is 56 and already retired with $1,912/mo pension. We do have a beach condo that is paid for that we rent out in Myrtle Beach SC (Shameless plug VRBO #633092). Also have $85,000 in credit union account that is not added to portfolio total as a safety net. It will grow about $5k/year with condo rental.
Also important to note our 401k is set up to where the early 10% w/d penalty does not apply.
Annual Exp: $72,343 (I added 8%)
Portfolio: $1,271,000
Years: 32
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SS (ME): $14,000 (62)
SS (SPOUSE): $10,000 (62)
Pension Income: $22,416 (2019)
Off chart spending reduction: $5,616 (Child Support Stops) 2021
Off chart spending reduction: $16,260 (Mortgage Stops) 2027
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Constant Spending Power
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Total Market Portfolio @ 1.00% Fees.
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Result:
115 cycles. Lowest and highest portfolio balance at the end of your retirement was $1,271,000 to $8,241,273, with an average at the end of $3,980,118. FIRECalc found that 0 cycles failed, for a success rate of 100.0%.
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I have run this so many different ways in regards to spending models and portfolio. Have to enter annual expenses up to $95k before it turns to less than 100%. I have also used so many different retirement calculators and all seem very positive. Any comments welcome and appreciated! Can't wait to retire!
Also important to note our 401k is set up to where the early 10% w/d penalty does not apply.
Annual Exp: $72,343 (I added 8%)
Portfolio: $1,271,000
Years: 32
---------------------
SS (ME): $14,000 (62)
SS (SPOUSE): $10,000 (62)
Pension Income: $22,416 (2019)
Off chart spending reduction: $5,616 (Child Support Stops) 2021
Off chart spending reduction: $16,260 (Mortgage Stops) 2027
---------------------
Constant Spending Power
---------------------
Total Market Portfolio @ 1.00% Fees.
---------------------
Result:
115 cycles. Lowest and highest portfolio balance at the end of your retirement was $1,271,000 to $8,241,273, with an average at the end of $3,980,118. FIRECalc found that 0 cycles failed, for a success rate of 100.0%.
--------------------
I have run this so many different ways in regards to spending models and portfolio. Have to enter annual expenses up to $95k before it turns to less than 100%. I have also used so many different retirement calculators and all seem very positive. Any comments welcome and appreciated! Can't wait to retire!
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