Hi everyone,
Glad to join to group - I heard of it from bogleheads. Here is our info....
Husband wants to retire 12/2026 (60y) - Me 6/2030 (62y)
We own our home which is worth about 500,000.
Him 55 -- Her 54- Cash Savings $37,500
Combined yearly salary about - $155,000 - him $110,000 - her $45,000
TOTAL COMBINED PORTFOLIO $1,355,470.00 - our Allocation is 50/50)
HIM TOTAL 401k $870,000.00 (Stocks) (70% stock/30% bond)
HIM Current Contributions (6%) - company matches 82% of our 6% )
HIM Total Vanguard $ 84,500.00
ROTH IRA 48,000 VTSAX (stock)
Traditional IRA 16,700 VBTLX (bond)
SEP Ira - 19,800 VBTLX (bond)
HER TOTAL 403B - Total $ 84,800.00 Fixed 7% 0/100% (bond).
HER Current Contributions (13%)
Fixed 7% - 100%
HER Total Vanguard $ 322,657.00
ROTH IRA- 85,900 VTSAX (stock)
Traditional IRA 236,000 VBTLX (bond)
SEP 757.00 VBTLX (bond)
current contribtions - $500 month to ROTH (VTSAX)
Two Children 19/21
NY 529 $41,300 (will be used in the next 2 1/2 years for younger sons college - will cashflow when it runs out)
Currently cash flowing older sons college - graduates in June
His Projected SS @62yr ($2,104)….. @67yr ($3,074)…..@70yr ($3,826)
Projected Full Pension (no penalty) @ 57 years old lump sum approx $700,000 or
Full Life $2,400 month (we would take 100% spousal so would be reduced) NO COLA
HER Projected SS @62yr ($1,288)…..@67yr ($1,952)
Pension (1) @ 63 years old $500 month NO COLA
Pension (2) @ 65 years old 9/2032) $725 month NO COLA (spouse would get 50%)
This is where we are.....
Any recommendations? Do u think retirement is possible when we want it?
As for spending in retirement? We want to be able to spend about 80,000 year (I think)..
Glad to join to group - I heard of it from bogleheads. Here is our info....
Husband wants to retire 12/2026 (60y) - Me 6/2030 (62y)
We own our home which is worth about 500,000.
Him 55 -- Her 54- Cash Savings $37,500
Combined yearly salary about - $155,000 - him $110,000 - her $45,000
TOTAL COMBINED PORTFOLIO $1,355,470.00 - our Allocation is 50/50)
HIM TOTAL 401k $870,000.00 (Stocks) (70% stock/30% bond)
HIM Current Contributions (6%) - company matches 82% of our 6% )
HIM Total Vanguard $ 84,500.00
ROTH IRA 48,000 VTSAX (stock)
Traditional IRA 16,700 VBTLX (bond)
SEP Ira - 19,800 VBTLX (bond)
HER TOTAL 403B - Total $ 84,800.00 Fixed 7% 0/100% (bond).
HER Current Contributions (13%)
Fixed 7% - 100%
HER Total Vanguard $ 322,657.00
ROTH IRA- 85,900 VTSAX (stock)
Traditional IRA 236,000 VBTLX (bond)
SEP 757.00 VBTLX (bond)
current contribtions - $500 month to ROTH (VTSAX)
Two Children 19/21
NY 529 $41,300 (will be used in the next 2 1/2 years for younger sons college - will cashflow when it runs out)
Currently cash flowing older sons college - graduates in June
His Projected SS @62yr ($2,104)….. @67yr ($3,074)…..@70yr ($3,826)
Projected Full Pension (no penalty) @ 57 years old lump sum approx $700,000 or
Full Life $2,400 month (we would take 100% spousal so would be reduced) NO COLA
HER Projected SS @62yr ($1,288)…..@67yr ($1,952)
Pension (1) @ 63 years old $500 month NO COLA
Pension (2) @ 65 years old 9/2032) $725 month NO COLA (spouse would get 50%)
This is where we are.....
Any recommendations? Do u think retirement is possible when we want it?
As for spending in retirement? We want to be able to spend about 80,000 year (I think)..