Paracelsus
Recycles dryer sheets
Hello! I'm turning 55 next week and am planning on retiring at the end of this year. I'm single, no kids, and no debt. I've done a good job saving and have been planning on an early retirement since my 20's. I've got resources - my work will give me a pension (decreased because of early retirement, but $28K per year). I've got a 401K accessible to me after 55 with $1-1.1M in it (about half pre-tax, half after tax contributions). I've got 10 years of stock options still coming ($10-30K lump sum value per year), lots of stock outside of retirement ($1M) that generates about $20K dividends per year, and cash of $120K (in case of emergency or market issues with stock). I've got $0.5M in IRAs (just a little in a Roth) available after age 59.5, and hopefully SS will still be in existence at 67 with $30K promised per year. My NEEDS get covered by the pension (utilities and regular life stuff like groceries), but will need to figure out health insurance coverage for next year and am seeing significant rate hikes for 2017 - that extra money will come out of my other resources (work provides a bit of funding, but its limited).
Trying to figure out how to smartly withdraw from my resources (retirement and savings/stock) to have a comfortable life outside of my needs, but I don't live extravagantly. Any resources available on smart spending/withdrawing in retirement considering a tax standpoint?
As my title indicates, I am passionate about circus arts and have been playing in the circus as a aerial performer for the past ten years or so - always as a student at a beginner to intermediate level (flying trapeze, static trapeze, silks, lyra, Spanish web, etc.). Cirque du Soleil will NOT be recruiting me . I will be getting a part-time position at the circus helping with the administrative side next year - more for simple fun than need for funding. Other plans are volunteering at animal shelters, and enjoying life at home gardening and playing with my dog and having the time to go to community markets/fairs, etc. Maybe one or two trips per year to see parts of the globe I haven't gone to before.
Health wise I'm good, but dealing with some arthritis issues and loss of vision issues (glaucoma - slowed down surgically as much as possible) - work stress right now is horribly bad, counting down days to get out of that. Looking to retire early to literally be able to see before that becomes limiting and enjoy my physical skills while I still can. I can teach ground based conditioning classes as a trainer also.
I think I'm fine with the resources and goals I have, but can use some help figuring out how to tap the resources - I've been in accumulation drive mode most of my life rather than a spending mode. Glad this forum exists!
Trying to figure out how to smartly withdraw from my resources (retirement and savings/stock) to have a comfortable life outside of my needs, but I don't live extravagantly. Any resources available on smart spending/withdrawing in retirement considering a tax standpoint?
As my title indicates, I am passionate about circus arts and have been playing in the circus as a aerial performer for the past ten years or so - always as a student at a beginner to intermediate level (flying trapeze, static trapeze, silks, lyra, Spanish web, etc.). Cirque du Soleil will NOT be recruiting me . I will be getting a part-time position at the circus helping with the administrative side next year - more for simple fun than need for funding. Other plans are volunteering at animal shelters, and enjoying life at home gardening and playing with my dog and having the time to go to community markets/fairs, etc. Maybe one or two trips per year to see parts of the globe I haven't gone to before.
Health wise I'm good, but dealing with some arthritis issues and loss of vision issues (glaucoma - slowed down surgically as much as possible) - work stress right now is horribly bad, counting down days to get out of that. Looking to retire early to literally be able to see before that becomes limiting and enjoy my physical skills while I still can. I can teach ground based conditioning classes as a trainer also.
I think I'm fine with the resources and goals I have, but can use some help figuring out how to tap the resources - I've been in accumulation drive mode most of my life rather than a spending mode. Glad this forum exists!