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re: What were your most surprising things about retirement?
Posted on 5/15/25 at 12:30 pm to tigerfoot
Posted on 5/15/25 at 12:30 pm to tigerfoot
Yea - I still got 20-25 years to go, it my simple math is this….
$1.5 mil in 401k - using the 4% rule, I can withdraw $60k/yr while not touching principal if it’s in very conservative funds.
Thats $4k/mth after taxes ( which is pretty conservative…. Dont think I’ll be owing $12k/ yr on tax bill…. But to be safe..)
$2400ish SS if I bow out around 63-64…
I’ll have (most likely if shite doesn’t hit the fan) $150-200k cash (inheritance). Thats 20 years of $10k yearly expenses … repairs, vacations, etc.
So $6500/mth with no mortgage, extra cash for emergency expenses, plus $1+ million in investments if needed.
Not counting small SS from wife. Her pension will cover healthcare from school system- not even factoring in what she will bring home after ($1k/mth for her spending… guys, we know that won’t change in retirement…)
If I’m off base, or someone whole heartedly disagrees- I’d love to hear why!
$1.5 mil in 401k - using the 4% rule, I can withdraw $60k/yr while not touching principal if it’s in very conservative funds.
Thats $4k/mth after taxes ( which is pretty conservative…. Dont think I’ll be owing $12k/ yr on tax bill…. But to be safe..)
$2400ish SS if I bow out around 63-64…
I’ll have (most likely if shite doesn’t hit the fan) $150-200k cash (inheritance). Thats 20 years of $10k yearly expenses … repairs, vacations, etc.
So $6500/mth with no mortgage, extra cash for emergency expenses, plus $1+ million in investments if needed.
Not counting small SS from wife. Her pension will cover healthcare from school system- not even factoring in what she will bring home after ($1k/mth for her spending… guys, we know that won’t change in retirement…)
If I’m off base, or someone whole heartedly disagrees- I’d love to hear why!
1
Posted on 5/15/25 at 1:12 pm to xBirdx
Personally, I think you have put yourself in a good position. My SS is going to be quite a bit higher but I won't have the inheritance so I think our cashflow is similar in regards to what will be coming in. 
Posted on 5/15/25 at 1:48 pm to VABuckeye
*knocking on wood*
I hope so, that’s with projected 6% growth per year..I know the market average is typically 7-8, but better to be safe than sorry.
Could increase the SS if I delayed retirement…but 20 more years at 63 I think I’ve of had enough.
I’m assuming you are factoring in 2 SS checks- may I ask what age you plan on retiring?
I hope so, that’s with projected 6% growth per year..I know the market average is typically 7-8, but better to be safe than sorry.
Could increase the SS if I delayed retirement…but 20 more years at 63 I think I’ve of had enough.
I’m assuming you are factoring in 2 SS checks- may I ask what age you plan on retiring?
Posted on 5/15/25 at 2:15 pm to xBirdx
Yes, two SS payments.
I've decided to wait until FRA. I have a great job that pays very well and I WFH. I'm 4 years away. If the market goes nuts I could accelerate but like you, I want to err on the conservative side.
I've decided to wait until FRA. I have a great job that pays very well and I WFH. I'm 4 years away. If the market goes nuts I could accelerate but like you, I want to err on the conservative side.
Posted on 5/15/25 at 2:32 pm to VABuckeye
Same boat here… WFH as well. I may wait until 65, as my wife will have her 20years in for retirement.
Idk … got a ways to go yet lol
Idk … got a ways to go yet lol
Posted on 5/15/25 at 2:36 pm to xBirdx
Yep, but we are entering the home stretch.
Posted on 5/15/25 at 6:52 pm to TorchtheFlyingTiger
It’s a fair point. Right now we’re probably too heavy on cash but we dip into this account come tax time, etc. it’s a rainy day fund. Once we’ve maxed out all the saving vehicles, I just park it in cash. I do have a trading account but I do not want to have more than $100,000 dollars in there. I manage that account and the rest of my money is managed by Fidelity and a firm here in The Woodlands that broke away from Merrill Lynch’s a few years ago. I figure $100,000 is all I want to risk playing stocks.
I guess I could shift more money over to the money managers but if I lost my job, we’d need the cash to get me to 59 years old. We have enough in the money market and in the monies that are not considered “retirement” assets with my money manager to get me to 59 before we’d need to touch retirement assets.
I guess I could shift more money over to the money managers but if I lost my job, we’d need the cash to get me to 59 years old. We have enough in the money market and in the monies that are not considered “retirement” assets with my money manager to get me to 59 before we’d need to touch retirement assets.
This post was edited on 5/15/25 at 6:53 pm
Posted on 5/15/25 at 6:56 pm to StreamsOfWhiskey
Believe my SS will be the max you can get. I also have a seven figure pension that I can take lump sum on top of seven figures of cash and non-retirement investments and seven figures of retirement assets/investments.
This post was edited on 5/15/25 at 6:57 pm
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