Getting closer


Full time employment: Posting here.
Mar 15, 2005
Punta Gorda, FL
Im planning on ER before my 48th birthday next May 25. To make this happen the DW is going to continue working at least 5 more years. She is a middle school principle and would be 50 with 25 yrs service in 5 years. This would qualify her for a reduced pension. She would get a full pension of 80% of her highest 3 years salary with 30 yrs in at 55. She loves her job currently but I would only retire now knowing that she could change her mind in 5 years.

I have been tracking our spending and it looks like we can still save around $1500 to $2000 a month on one salary. We also hope our kids are on their own soon. The youngest still has about 2 yrs of college to go. We have two sons and pay for their cars, gas , tuition and books, clothes, and Im sure many things I don't know about.

We are currently debt free and have around 250K in my 401K and 175k in after tax accounts. Plus the wifes pension. I belive we should have no proplem adding to this amount but if the wife would choose to retire in 5 years we would probably downsize our house. We just had this home built and it's over 3000 sqft. with a 2 acre lot. We could definatly be comfortable in a smaller home.

I plan on taking over many of the DW's chores around the house thus giving her more free time for herself. I also plan on doing many things myself that I used to pay to have done.

It's still just a goal, but getting closer.
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