Hi everyone. Been looking through lots of the posts and wanted to get opinions on our situation.
Our particulars…
Me: M, age 52
Wife: Age 58
I am still working, wife retired this month.
We are expatriates living in the middle east for the last dozen years. We intend to retire back to the U.S. The sooner the better.
Particulars:
Real estate: None
401K: $900,00
Lump Sum Retirement Payout (rollover to IRA): $1,500,000
Misc IRAs: $200,000
Cash instruments: $1,600,000
Other investments (mutual funds,etc.) $450,000
SS will only be about $1000 per month if taken at 62.
I have used the conventional tools (FIREcalc) and see that we are in a position to FIRE.
But, I have two concerns.
First, we have not lived in the U.S. for many years and I am not sure what things will cost. I have listed what I think our annual expenses will be but could use your help to look it over. We would probably pay cash for a house. We are not extravagant and do not expect to live a plush lifestyle.
I have intentionally tried to estimate my numbers high to be extra conservative. But how much too high are they? Intend to retire to suburbia, not NYC or SF but likely Washington state or Oregon outside of the big cities.
Second, I am not sure how to structure our investments to spin off enough cash to live. You can tell my predicament by the cash we have on hand.
I could use some help in both of these items.
Thanks for taking the time.
Our particulars…
Me: M, age 52
Wife: Age 58
I am still working, wife retired this month.
We are expatriates living in the middle east for the last dozen years. We intend to retire back to the U.S. The sooner the better.
Particulars:
Real estate: None
401K: $900,00
Lump Sum Retirement Payout (rollover to IRA): $1,500,000
Misc IRAs: $200,000
Cash instruments: $1,600,000
Other investments (mutual funds,etc.) $450,000
SS will only be about $1000 per month if taken at 62.
I have used the conventional tools (FIREcalc) and see that we are in a position to FIRE.
But, I have two concerns.
First, we have not lived in the U.S. for many years and I am not sure what things will cost. I have listed what I think our annual expenses will be but could use your help to look it over. We would probably pay cash for a house. We are not extravagant and do not expect to live a plush lifestyle.
I have intentionally tried to estimate my numbers high to be extra conservative. But how much too high are they? Intend to retire to suburbia, not NYC or SF but likely Washington state or Oregon outside of the big cities.
Second, I am not sure how to structure our investments to spin off enough cash to live. You can tell my predicament by the cash we have on hand.
I could use some help in both of these items.
Thanks for taking the time.