55 years of age, 31 years of service with megacorp. Want to retire now, and need/want $87K per year. Healthcare is taken care of with both megacorp policy, VA, CHAMPVA, and at age 60, TriCare.
I have $43K of my needs covered with COLA'd VA disability pension. I plan to invest $480K profit sharing in a Metlife Variable annuity that will provide $21,600 after the 10% early withdrawal penalty.
In addition, I will also invest my $430K lump sum pension in Mutual Funds/Stocks and will need $23K per year from it (after early withdrawal penalty) to achieve my funding goal for the next 4 years, then I'll escape the 10% early withdrawal penalty, have an an Army Reserve pension kick in at age 60, and SS at age 62.
Question: Give my various sources of current and future income, is it feasible to take $23K per year (6% return) from the $430K mutual fund investment for 4 years prior to other sources of income kicking it?
Thanks in advance for your opinions!
I have $43K of my needs covered with COLA'd VA disability pension. I plan to invest $480K profit sharing in a Metlife Variable annuity that will provide $21,600 after the 10% early withdrawal penalty.
In addition, I will also invest my $430K lump sum pension in Mutual Funds/Stocks and will need $23K per year from it (after early withdrawal penalty) to achieve my funding goal for the next 4 years, then I'll escape the 10% early withdrawal penalty, have an an Army Reserve pension kick in at age 60, and SS at age 62.
Question: Give my various sources of current and future income, is it feasible to take $23K per year (6% return) from the $430K mutual fund investment for 4 years prior to other sources of income kicking it?
Thanks in advance for your opinions!