LeeLee2021
Dryer sheet wannabe
- Joined
- Sep 26, 2016
- Messages
- 20

My spouse and I are DINK, nearly 50, live in a MCOL city in the South, and have been using a trusted financial planner for years (I know, I know, but we've been super happy with him and he's only a $2k/year fee. He’ll likely be retiring soon, which is when I’ll take over). He thinks I can retire next year and spouse in ~5 years.
My layoff is generous in these pandemic times - last workday is the end of this year, with severance payments and benefits through April 2021. We'll shift to the spouse’s health benefits after that. I plan to take a sabbatical and reevaluate if I’m done done. The kink is spouse’s work BS meter is trending into the red zone, so if they need to hit the eject button, I will find another job with benefits to allow them to quit and have time off to decompress/reevaluate.
I pulled 3-year spending averages that showed us at ~$160k/year, but that includes a high savings rate. When I trim the fat to fit within one $130k income, annual spending looks like it would be ~$100k/year. That’ll run a small deficit that we plan to cover with savings.
For FIRECalc I'm starting with a total of $2M assets, $100k spend, retirement year 2021. That gives me 72% and 93% if I add in SS. Are those the right numbers? How do I model me retiring in 2021, and then figuring out when spouse can retire?
Here are our assets:
Total (w/property but minus the mortgage) $2.5M
Total (minus property and mortgage) $2M
Non-Qualified Assets $725k (~150k cash)
Qualified Assets $1.2M
Market Assets $1.2M
Our biggest unknown, once we're both retired, are healthcare costs. We both have LTC and whole life, and via HealthSherpa I see non-subsidized ACA policies currently range $9-15k/year all in, so I'll budget $15k/year to start and expect increases.
Congrats on reading this far, kind internet strangers

