Good Morning Gang,
My name is Michael and I am happily married and 56 years old (today.) The first thing I did this morning was to pay off the last $24K of our mortgage. We are now debt free. We purchased our retirement home (55 + community) a little over two years ago and we transferred our existing equity into this home, thus it was rather easy to pay down $50K.
As of today, I have set my prospective retirement date for December 15, 2017. So, 363 days to go. My wife and I have booked a Celebrity Cruise for December 16th to celebrate. I have been agonizing for the last two years of when I should retire and psychologically it just feels right to "seal the deal" at the end of this year.
Now here is the money part - you know, the stuff that we all worry about. Do I have enough?, do I need more?, What am I going to do?, etc.
Cash/Brokerage = $125,000
IRA = $475,000
Roth = $125,000
Over and above that, I will be receiving a monthly check beginning at Age 60 - in the amount of $2,600 per month (more than I spend now - and that is including making 1/2 of Principal payments.) I'm frugal as hell, so I have never been bothered with material things.
Now the wife is an over-achiever (RN) who works in a hospital - so I will piggy back on her health plan for three years ($300 month) until my retirement health kicks in, age 60.)
You know what my biggest decision is going to be..... Do I work at CPA firm exclusively during tax season to make a few extra bucks OR do I work at the local minor league ballpark as a Greeter/Usher during the summer months?
What a great problem to have
Looking back on my life, one of the most enjoyable experiences that I ever had was going to the ballpark with my father in Pittsburgh and watching the Pirates play baseball.
Anyway, I'm just stopping by to introduce myself and am interested in learning from you guys/gals how to make the most of my retirement. I define 'most" as enjoyment.
Michael A
My name is Michael and I am happily married and 56 years old (today.) The first thing I did this morning was to pay off the last $24K of our mortgage. We are now debt free. We purchased our retirement home (55 + community) a little over two years ago and we transferred our existing equity into this home, thus it was rather easy to pay down $50K.
As of today, I have set my prospective retirement date for December 15, 2017. So, 363 days to go. My wife and I have booked a Celebrity Cruise for December 16th to celebrate. I have been agonizing for the last two years of when I should retire and psychologically it just feels right to "seal the deal" at the end of this year.
Now here is the money part - you know, the stuff that we all worry about. Do I have enough?, do I need more?, What am I going to do?, etc.
Cash/Brokerage = $125,000
IRA = $475,000
Roth = $125,000
Over and above that, I will be receiving a monthly check beginning at Age 60 - in the amount of $2,600 per month (more than I spend now - and that is including making 1/2 of Principal payments.) I'm frugal as hell, so I have never been bothered with material things.
Now the wife is an over-achiever (RN) who works in a hospital - so I will piggy back on her health plan for three years ($300 month) until my retirement health kicks in, age 60.)
You know what my biggest decision is going to be..... Do I work at CPA firm exclusively during tax season to make a few extra bucks OR do I work at the local minor league ballpark as a Greeter/Usher during the summer months?
What a great problem to have
Looking back on my life, one of the most enjoyable experiences that I ever had was going to the ballpark with my father in Pittsburgh and watching the Pirates play baseball.
Anyway, I'm just stopping by to introduce myself and am interested in learning from you guys/gals how to make the most of my retirement. I define 'most" as enjoyment.
Michael A