Foodeefish
Dryer sheet aficionado
- Joined
- Nov 22, 2005
- Messages
- 27
I just left my job after 18 years and will receive $30K for the next 10 Years because my Executive Deferred Compensation plan automatically pays out due to me leaving the company. This income will be taxed at 30-35% due to the fact my wife and I have combined incomes of over $250,000 and this is without the $30K. I am 45 and my wife is 52 and I will be starting a new job in four weeks making the same money ( $150K). With the new job I will be investing as much as my paycheck as I possibly can in their 401k Plan and I currently already have $200K in another 401K plan.
Our plan is to build our retirement home in South Carolina in the next 10 months and pay cash for it. Our current home is worth $650K and we owe $149K on the 4.75% loan- 7 years left.
What would be the best way to invest the $30k each year that I will for the next ten years? Does it sound like Early retirement is near?
Our plan is to build our retirement home in South Carolina in the next 10 months and pay cash for it. Our current home is worth $650K and we owe $149K on the 4.75% loan- 7 years left.
What would be the best way to invest the $30k each year that I will for the next ten years? Does it sound like Early retirement is near?