RetiringAt55
Recycles dryer sheets
Hello everyone! I posted on here in the past, but life got complicated. I retired in 2019 but went through a divorce in mid-2021 that forced me out of retirement. (Believe me it was worth every penny to get rid of my abusive ex-husband.)
I am a software developer and was able to find a good job I enjoyed, but was recently laid off along with other tech in the US. I negotiated a few months of severance but would like to retire again.
Here are my financials:
Expected SS at age 70 of $45K.
Approximately $1M in retirement accounts
3/4 in 401K with most of the rest in Roth
50/50 Asset Allocation
Annual expenses with tax around $60K after downsizing my house
Good retiree medical coverage from old employer
I am 58 but can access my 401K as I left my employer after age 55.
Selling my paid off home will get my expenses down to the $60K budget and give me a travel/RV fund not included in the number above. The budget included replacement/repair costs for home and auto.
I've run things in Fidelity, FireCalc, i-orp, fi calc, and FRP and all say I am over 95% to retire.
What do you all think? There is a possible addition of SS survivor's benefit before age 70 if my unhealthy ex-spouse were to pass away, but I'm not counting that. I do not feel I need to leave a big inheritance for my son.
Life is further complicated in that I have been dating New Guy for a year. We have discussed moving in together once our kids have moved out so it is possible my expenses could go down in a couple years. I am not counting this in my planning as you can't count on anything in life. New Guy is also very responsible financially and considering retiring early with similar assets. If things with New Guy don't last, I doubt I would need my travel/RV budget as I don't see myself traveling alone.
I am beginning to look for a new job, but I really want to be DONE with w*rk again. I was not bored for a minute when I retired the first time. I am planning on only accepting a job that is inspiring to me, hopefully part-time, for just a year max, but again I really want to be done.
What do you think?
I am a software developer and was able to find a good job I enjoyed, but was recently laid off along with other tech in the US. I negotiated a few months of severance but would like to retire again.
Here are my financials:
Expected SS at age 70 of $45K.
Approximately $1M in retirement accounts
3/4 in 401K with most of the rest in Roth
50/50 Asset Allocation
Annual expenses with tax around $60K after downsizing my house
Good retiree medical coverage from old employer
I am 58 but can access my 401K as I left my employer after age 55.
Selling my paid off home will get my expenses down to the $60K budget and give me a travel/RV fund not included in the number above. The budget included replacement/repair costs for home and auto.
I've run things in Fidelity, FireCalc, i-orp, fi calc, and FRP and all say I am over 95% to retire.
What do you all think? There is a possible addition of SS survivor's benefit before age 70 if my unhealthy ex-spouse were to pass away, but I'm not counting that. I do not feel I need to leave a big inheritance for my son.
Life is further complicated in that I have been dating New Guy for a year. We have discussed moving in together once our kids have moved out so it is possible my expenses could go down in a couple years. I am not counting this in my planning as you can't count on anything in life. New Guy is also very responsible financially and considering retiring early with similar assets. If things with New Guy don't last, I doubt I would need my travel/RV budget as I don't see myself traveling alone.
I am beginning to look for a new job, but I really want to be DONE with w*rk again. I was not bored for a minute when I retired the first time. I am planning on only accepting a job that is inspiring to me, hopefully part-time, for just a year max, but again I really want to be done.
What do you think?