tominboise
Recycles dryer sheets
Just joined the forum. Been running the FireCalc program for awhile. Current situation is I am 58, wife is 56. We make around $250k/year. We have around $3.5mil in assets. $2.5 mil in 401k/IRA and around $1mil in two houses we own (live in one, the other is our cabin) and a couple of pieces of bare land. We have zero debt. We have one son in college for another year, and a daughter who is in high school. We have enough in 529 plans to cover all the rest of the college tuition. And probably around $150k in cash/savings.
Our $2.5mil is split among Vanguard/Fidelity and company 401k's. A general allocation of around 70%stock/30%bonds+capital preservation. They vary some from institution to institution, but that split is the average.
We will get around $900/month in pensions from a large aerospace company when we file (in our 60's, I believe) and then if we both started drawing SS at 62, will get around $22700/yr in four years for me, and then an additional $22700/yr in six years when she is 62.
General question is, We are thinking about retiring when I am 60 and she is 58, when the daughter graduates high school. We would have to draw from our own savings waiting for SS to start for a couple of years. Lately, when I am sitting in the office or on an airplane for work, I wonder why I am I doing so and shouldn't we get out now. Main reason I stay working, besides the salary, is the health insurance benefit from my employer. My wife is eligible to retire from IBM and as part of the that, apparently we could buy insurance through their company plan at a discounted rate.
Having been raised by Great Depression parents, we both are nervous about quitting and walking away from good jobs.
Our $2.5mil is split among Vanguard/Fidelity and company 401k's. A general allocation of around 70%stock/30%bonds+capital preservation. They vary some from institution to institution, but that split is the average.
We will get around $900/month in pensions from a large aerospace company when we file (in our 60's, I believe) and then if we both started drawing SS at 62, will get around $22700/yr in four years for me, and then an additional $22700/yr in six years when she is 62.
General question is, We are thinking about retiring when I am 60 and she is 58, when the daughter graduates high school. We would have to draw from our own savings waiting for SS to start for a couple of years. Lately, when I am sitting in the office or on an airplane for work, I wonder why I am I doing so and shouldn't we get out now. Main reason I stay working, besides the salary, is the health insurance benefit from my employer. My wife is eligible to retire from IBM and as part of the that, apparently we could buy insurance through their company plan at a discounted rate.
Having been raised by Great Depression parents, we both are nervous about quitting and walking away from good jobs.