ER Eddie
Thinks s/he gets paid by the post
- Joined
- Mar 16, 2013
- Messages
- 1,788
Unless I have completely failed math, I believe I'm set for retirement. But please double-check this for me.
Mutual funds: 1.1 million
403b/Roth savings: 141K
Pension: 11K/yr.
Expected yearly spending in retirement: 30K/yr
I know that last figure seems low to most of you big-spenders, but I've been living simply for several decades and have a low-key lifestyle with no dependents, apart from a weiner dog. The figure is based on my 2013 spending, which I added a couple thousand to, just to be more realistic. I also added 7K for retiree health insurance. It still might be a bit of an underestimate, since it doesn't account for rising health care costs or big, occasional purchases like a new car or roof.
I get 100% in Firecalc based on drawing off the mutual funds. My plan, though, is only to draw off mutual funds at 2% for the 4 years between 56 and 60, and otherwise leave them alone, using a combination of pension, 403b/Roth, and Social Security to cover expenses. It works on paper, anyhow. In reality, I'll probably dip into the mutual funds at some point, because, well, what's the point of having the money if you don't use it.
Sound ok?
Am I overlooking something?
Mutual funds: 1.1 million
403b/Roth savings: 141K
Pension: 11K/yr.
Expected yearly spending in retirement: 30K/yr
I know that last figure seems low to most of you big-spenders, but I've been living simply for several decades and have a low-key lifestyle with no dependents, apart from a weiner dog. The figure is based on my 2013 spending, which I added a couple thousand to, just to be more realistic. I also added 7K for retiree health insurance. It still might be a bit of an underestimate, since it doesn't account for rising health care costs or big, occasional purchases like a new car or roof.
I get 100% in Firecalc based on drawing off the mutual funds. My plan, though, is only to draw off mutual funds at 2% for the 4 years between 56 and 60, and otherwise leave them alone, using a combination of pension, 403b/Roth, and Social Security to cover expenses. It works on paper, anyhow. In reality, I'll probably dip into the mutual funds at some point, because, well, what's the point of having the money if you don't use it.
Sound ok?
Am I overlooking something?
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