UnrealizedPotential
Thinks s/he gets paid by the post
- Joined
- May 21, 2014
- Messages
- 1,390
That 700K in retirement funds is your biggest roadblock. You need it to retire now. Since you can't get to it, IMO the remaining 400K obviously isn't enough. You could sell your home of 400K , but then you would need a place to live.
Money in retirement funds really kills if one wants to retire early. A lot of people, myself included don't think about that part when starting pre tax retirement funds and putting all our extra available cash into it. They do have limitations on what one can do. Not that I am against having pre tax retirement accounts, I'm not. I just think savers should give thought to having taxable accounts as well.
If you did sell your house for 400K and put it with the other 400K, you might be able to pull off retirement by moving to the mid west and get your expenses down to around 36K a year. Otherwise I can't think of how you could do it. But I think you would need to use all the money from the sale of your home to swing it. That means you would probably need to rent.
Money in retirement funds really kills if one wants to retire early. A lot of people, myself included don't think about that part when starting pre tax retirement funds and putting all our extra available cash into it. They do have limitations on what one can do. Not that I am against having pre tax retirement accounts, I'm not. I just think savers should give thought to having taxable accounts as well.
If you did sell your house for 400K and put it with the other 400K, you might be able to pull off retirement by moving to the mid west and get your expenses down to around 36K a year. Otherwise I can't think of how you could do it. But I think you would need to use all the money from the sale of your home to swing it. That means you would probably need to rent.
Last edited: