toddwelti
Confused about dryer sheets
My name is Todd. I am an engineer/researcher is Los Angeles area. I only just realized I can probably retire! My wife and I are 62, in good health, and I had assumed I would work to at least 65. Now that I realized it is a possibility to retire now, I can't stop thinking about it! Thing is, my wife and I together just through SS can generate right around the same amount we are currently spending (after tax). We have a disabled dependent who is getting a certain amount (we are caretakers), and I calculated my benefits and the spousal benefit if retiring at 62, i.e. now. We currently spend around $10,000 per month after taxes - including mortgage and everything. Our benefits combined with disability for our daughter, would just about equal that, mostly non-taxable as I understand it. PLUS, I have around 1,000,000 in IRA, some other smaller investments, and house equity (though I want to leave that to the kids). We have another $500,000 (fix ed amount) coming from inheritance sometime in the next few years, AND I plan to so some sort of part time side hustle as well. Not counting on that though. We could continue as is, without drawing significantly on the IRA. Of course, I want to get an advisor, look at software such as FireCalc, and model up all the possibilities and optimize everything, but I want to retire now. Am I crazy?!