New to the forum, and after simply reading a few articles I have to say I'm a bit overwhelmed. I feel like I'm doomed to being homeless within a few years of retiring! I'm quite the laymen and don't do numbers or really understand financial principles. I'm 56 years old and have been at my present job for 22 years with a prominent international airline. With right at $250k in my 401k account as of now, I plan on working 6 more years until I turn 62. My company matches up to 9.3% of my contributions, which I'm very thankful for. I really have no idea how much I will be able to accumulate between now and then, but remain hopeful that I will ultimately reach the $500k mark by then.
My wife is unable to work right now, but may be able to after she has a couple of medical procedures that are already scheduled. We have a very young mortgage right now of $95,000 in metro Atlanta, that seems to be appreciating. I know that I have ZERO desire to retire in the neighborhood that I'm in, as the community seems to be deteriorating socially. (My wife disagrees).
Our goal is to ultimately sell this house prior to taking the leap, and to permanently relocate to a South Carolina community. We don't want anything over $150,000 of which I'm hoping to somehow pay-off between the 401k and the selling of this house. All I know at this point is that I simply cannot stay in my position at work for another 10 years. I struggle with my co-workers who all seem to be idiots, and come home mentally worn out. I have the "I really don't care" attitude from time to time, but know it's not going to be easy...
My health is excellent with no issues so far. I have a very strict doctor that takes good care of me. We have 3 vehicles yet to be paid off, and just one credit card under $4000, with a total debt of about $118k including our house. Goal is to be debt free except for the mortgage. Am I in for a crash landing?!?!
My wife is unable to work right now, but may be able to after she has a couple of medical procedures that are already scheduled. We have a very young mortgage right now of $95,000 in metro Atlanta, that seems to be appreciating. I know that I have ZERO desire to retire in the neighborhood that I'm in, as the community seems to be deteriorating socially. (My wife disagrees).
Our goal is to ultimately sell this house prior to taking the leap, and to permanently relocate to a South Carolina community. We don't want anything over $150,000 of which I'm hoping to somehow pay-off between the 401k and the selling of this house. All I know at this point is that I simply cannot stay in my position at work for another 10 years. I struggle with my co-workers who all seem to be idiots, and come home mentally worn out. I have the "I really don't care" attitude from time to time, but know it's not going to be easy...
My health is excellent with no issues so far. I have a very strict doctor that takes good care of me. We have 3 vehicles yet to be paid off, and just one credit card under $4000, with a total debt of about $118k including our house. Goal is to be debt free except for the mortgage. Am I in for a crash landing?!?!