Bocco
Confused about dryer sheets
Just got layed off from $100K IT job (the very day I returned from my father-in-laws funeral). Decided I am done with the cubicle life and now its our time. We think we can do this though healthcare cost trouble us. Fortunately, I got a descent severance that will cover all our living expenses through the end of this year and healthcare coverage through mid October. After that we are on our own and will have to start drawing down our tax deferred savings. No pension. My wife "retired" a few years back and does collect a measly pension. We think our fixed expenses (mortgage, utilities, food, etc. (sans health ins.)) are about 3K/Mo. We live fairly modestly. Much of our entertainment here in Colorado is low or no cost (hiking, biknng, golf, etc.)
Here's where we are.
Wife's Pension : $650/mo
My 401k: $135,000
My std IRA: $620,000
Wife's std IRA $180,000
My Roth: $25,000
Wife's Roth: $16,000
Cash on hand: $20,000
So nearly a mill in mostly deferred accounts from which we will need to begin drawing on in 2014. So looking for gross income of around $60K while maintaining some growth in the portfolio. I should get about 2,000/mo from SSN in about 3.5 years and my wife should get about 1200/mo in 6 years.
Here's where we are.
Wife's Pension : $650/mo
My 401k: $135,000
My std IRA: $620,000
Wife's std IRA $180,000
My Roth: $25,000
Wife's Roth: $16,000
Cash on hand: $20,000
So nearly a mill in mostly deferred accounts from which we will need to begin drawing on in 2014. So looking for gross income of around $60K while maintaining some growth in the portfolio. I should get about 2,000/mo from SSN in about 3.5 years and my wife should get about 1200/mo in 6 years.