goneboarding
Dryer sheet aficionado
- Joined
- Sep 23, 2012
- Messages
- 25
Hi all,
I'm 54 now, DW is 49. Our financial assets total $1.38M, not including real estate. Here's the break up:
Cash $250K (includes rainy day fund)
Investments $340K (60/40 stocks/bonds)
Annuity (post-tax) $205K (freeze period ends when I’m 59 ½ )
IRAs, Self & DW (Annuity) $250K (freeze period, see above)
529 Account (unused) $100K
401k (Self) $220K (60/25/15 - stocks/bonds/MM)
Roths, Self & DW $15K
Primary Residence (PR) is paid off. We also have rental properties. Equity in all properties including PR would total $270K although this is hard to gauge today, given the appraisal challenges due to foreclosures in my city . Would like to FIRE two years from now (late 2014). I’ll be maxing out my 401k including the catch up allowance till then.
1. I expect $65K in annual expenses, not including taxes. Including taxes, is $75K reasonable?
2. Any advice on how to re-align our investments to prepare for retirement in 2 years?
2. I keep hearing about changes to SS and Medicare for those 54 and younger, if Romney/Ryan win. I’m right on the cusp, so any advice to prepare or compensate for this?
3. What about LTCI? Should we consider starting a policy now before it becomes prohibitively expensive?
I'm 54 now, DW is 49. Our financial assets total $1.38M, not including real estate. Here's the break up:
Cash $250K (includes rainy day fund)
Investments $340K (60/40 stocks/bonds)
Annuity (post-tax) $205K (freeze period ends when I’m 59 ½ )
IRAs, Self & DW (Annuity) $250K (freeze period, see above)
529 Account (unused) $100K
401k (Self) $220K (60/25/15 - stocks/bonds/MM)
Roths, Self & DW $15K
Primary Residence (PR) is paid off. We also have rental properties. Equity in all properties including PR would total $270K although this is hard to gauge today, given the appraisal challenges due to foreclosures in my city . Would like to FIRE two years from now (late 2014). I’ll be maxing out my 401k including the catch up allowance till then.
1. I expect $65K in annual expenses, not including taxes. Including taxes, is $75K reasonable?
2. Any advice on how to re-align our investments to prepare for retirement in 2 years?
2. I keep hearing about changes to SS and Medicare for those 54 and younger, if Romney/Ryan win. I’m right on the cusp, so any advice to prepare or compensate for this?
3. What about LTCI? Should we consider starting a policy now before it becomes prohibitively expensive?