WantOutAt55
Confused about dryer sheets
- Joined
- Jan 6, 2012
- Messages
- 2
Hi All. I've been lurking for a few months, and simply love it here (you are all so good at this stuff). So here I am, hoping to get some advice on my plan. The following plan was started in 1999 and has been on track so far. Here we go ....
PROFILE:
- Current Stock, cash, Bonds, Other: $405K
- Plan to have about $730K at 55 based on our track record of saving and investment performance.
- NY Condo (current value $650K, less about $25K owed), paid in full by 2015, my age 55 when I want to retire
- Second Country house (owe about $100K, still have 25 year mortgage remaining) current value about $125K
- Current monthly expenses about $4500-$5000
- Current age: 52 (wife 50). Want to retire at 55 (maybe wait until 56 .. But don't want to wait much longer)
- Pension will be about $1300 per month starting @ 55.
- Will have no medical after I retire at 55. I must cover it until age 65 (medicare, etc)
- I think we can live on about $60K annually starting at 55 or 56 (+2.5% inflation added per year)
- After 55 income will come from: $60K annually (+inflation): (NOTE: Need to cover medical, age 55-65):
-----> INCOME: Age 55-62, my pension + pull % from investments; At age 62 add my Social Security; At age 65 add wife Social Security, and now have medical from Medicare, etc.
- MAYBE: We can move to country house, and rent condo ONLY if needed. Current condo rental value probably $2300 per month (condo common charge, etc $300 month, net $1800 to $2000 rental income)
- Estimate that we'll need about 6% growth from investments from age 55 to…. (my calculations see a negative balance starting about age 91 … but still working on details).
Current Accounts Composition:
- Stock 51%
- Cash 21% (about $68K in MM, Savings, Checking)
- REIT 19% (pays 7% annual)
- Bonds 9%
- Investments within two 401K's, and a few individual accounts:
DIS
VWELX
SEQUX
VEXPX
SOAVX
VFINX
FFTWX
FDCAX
RYLPX
DGRIX
DNLDX
SOAAX
The Questions:
- Q: How should I start to tweak my portfolio?
- Q: Any recommendations for a conservative (safer) 6% return?
- Q: Who can I go to for the right advice?
- Q: Am I nuts to believe that this can work (please be gentle)
Thanks SOOOOOO much in advance.....
PROFILE:
- Current Stock, cash, Bonds, Other: $405K
- Plan to have about $730K at 55 based on our track record of saving and investment performance.
- NY Condo (current value $650K, less about $25K owed), paid in full by 2015, my age 55 when I want to retire
- Second Country house (owe about $100K, still have 25 year mortgage remaining) current value about $125K
- Current monthly expenses about $4500-$5000
- Current age: 52 (wife 50). Want to retire at 55 (maybe wait until 56 .. But don't want to wait much longer)
- Pension will be about $1300 per month starting @ 55.
- Will have no medical after I retire at 55. I must cover it until age 65 (medicare, etc)
- I think we can live on about $60K annually starting at 55 or 56 (+2.5% inflation added per year)
- After 55 income will come from: $60K annually (+inflation): (NOTE: Need to cover medical, age 55-65):
-----> INCOME: Age 55-62, my pension + pull % from investments; At age 62 add my Social Security; At age 65 add wife Social Security, and now have medical from Medicare, etc.
- MAYBE: We can move to country house, and rent condo ONLY if needed. Current condo rental value probably $2300 per month (condo common charge, etc $300 month, net $1800 to $2000 rental income)
- Estimate that we'll need about 6% growth from investments from age 55 to…. (my calculations see a negative balance starting about age 91 … but still working on details).
Current Accounts Composition:
- Stock 51%
- Cash 21% (about $68K in MM, Savings, Checking)
- REIT 19% (pays 7% annual)
- Bonds 9%
- Investments within two 401K's, and a few individual accounts:
DIS
VWELX
SEQUX
VEXPX
SOAVX
VFINX
FFTWX
FDCAX
RYLPX
DGRIX
DNLDX
SOAAX
The Questions:
- Q: How should I start to tweak my portfolio?
- Q: Any recommendations for a conservative (safer) 6% return?
- Q: Who can I go to for the right advice?
- Q: Am I nuts to believe that this can work (please be gentle)
Thanks SOOOOOO much in advance.....
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