Hello All,
My last thread was so old I couldn't respond.
Age 51, wife 49 as of today, happy birthday!
Net worth 2.5M, savings around 1.9M mostly tied up in 401 and roth accounts. Maybe 100k of that is non-retirement accounts. No debt at all. House worth maybe 400k in high tax state(illinois). Not likely to leave the state until parents pass on.
Both of us employed in small family business that not likely to make it out of Covid downturn. All of our skills are basically in a declining industry which is sort of depressing.
Anyway, been planning on ER for a long time and kind of wanted some advice on where we are and if it is even feasible to consider retiring if our business were to fail.
Couple of questions
1. Is the systematic withdrawal provision something that would make sense for us? Given we have 7 years to go before I turn 59.5 years old
2. Healthcare.....Obamacare if I can keep income low?
3. Possibility of working part time to get healthcare and some pocket money?
Now that there is some urgency I am panicking a bit.
My last thread was so old I couldn't respond.
Age 51, wife 49 as of today, happy birthday!
Net worth 2.5M, savings around 1.9M mostly tied up in 401 and roth accounts. Maybe 100k of that is non-retirement accounts. No debt at all. House worth maybe 400k in high tax state(illinois). Not likely to leave the state until parents pass on.
Both of us employed in small family business that not likely to make it out of Covid downturn. All of our skills are basically in a declining industry which is sort of depressing.
Anyway, been planning on ER for a long time and kind of wanted some advice on where we are and if it is even feasible to consider retiring if our business were to fail.
Couple of questions
1. Is the systematic withdrawal provision something that would make sense for us? Given we have 7 years to go before I turn 59.5 years old
2. Healthcare.....Obamacare if I can keep income low?
3. Possibility of working part time to get healthcare and some pocket money?
Now that there is some urgency I am panicking a bit.