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So, thinking of hanging it up next December, my birthday present to myself. Paid off the house 8 months ago, doing some remodel now. My son graduated, debt free, as we saved bonuses and other items so no debt there for him or us. Everything is paid off with the exception of my G80 5.0 and I'll probably pay that off next December.
We have three pensions, me two and her one, (lifetime benefit for both of us so a little lower than maximum compensation), we will have 2 SS, and 401k income; which we will only take the profit, whatever it is, and leave the core amount untouched until RMD kick in at 72.
I'm starting my two pensions in April of next year, that will cover private health care until we turn 65 at the end of 2023, so with that in savings, private healthcare won't affect the budget in 2023 until Medicare kicks in January of 2024, but I've got that in the spreadsheet. She is retired already, getting her teacher retirement and she took SS at 62 - my income tripled hers so it made sense for her to go ahead and take it. I'm not going to talk exact numbers but we will be over 6 figures in retirement, how much certainly depends on the market and investments. I'm going to put a number here for our base retirement, no investment income included, and I do this in hopes that younger people here will start looking at their retirement sooner, as I'm sure some of us go "I should have done a little better". So base retirement will be just under $90,000/yr. Around $85k base if I tell them to Kiss My A$$ earlier than next December. I have taxes, all insurance, base bills, AMEX fun budget, CASH, in the spreadsheet and what we forecast as left over funds at then end of the month. We've also replaced roof, all A/C, tankless water heater, washer/dryer, freezers, etc all in the last 5-6 years so some solid warranties for a while.
Questions for those who retired recently:
1. What did you NOT expect?
2. What little expenses did you forget?
3. Are you bored, do you need to go to work at Lowes to have something to do?
4. What did you get right?
5. If you traveled for work, how are you and the wife getting along now that you are home 24/7? Cause I was gone half the year working in the oil industry 21/21 or 28/28.
6. Medicare A,B, D - sort of confusing, dental plan - how much?
Feel free to add "you should..."
TIA !!
We have three pensions, me two and her one, (lifetime benefit for both of us so a little lower than maximum compensation), we will have 2 SS, and 401k income; which we will only take the profit, whatever it is, and leave the core amount untouched until RMD kick in at 72.
I'm starting my two pensions in April of next year, that will cover private health care until we turn 65 at the end of 2023, so with that in savings, private healthcare won't affect the budget in 2023 until Medicare kicks in January of 2024, but I've got that in the spreadsheet. She is retired already, getting her teacher retirement and she took SS at 62 - my income tripled hers so it made sense for her to go ahead and take it. I'm not going to talk exact numbers but we will be over 6 figures in retirement, how much certainly depends on the market and investments. I'm going to put a number here for our base retirement, no investment income included, and I do this in hopes that younger people here will start looking at their retirement sooner, as I'm sure some of us go "I should have done a little better". So base retirement will be just under $90,000/yr. Around $85k base if I tell them to Kiss My A$$ earlier than next December. I have taxes, all insurance, base bills, AMEX fun budget, CASH, in the spreadsheet and what we forecast as left over funds at then end of the month. We've also replaced roof, all A/C, tankless water heater, washer/dryer, freezers, etc all in the last 5-6 years so some solid warranties for a while.
Questions for those who retired recently:
1. What did you NOT expect?
2. What little expenses did you forget?
3. Are you bored, do you need to go to work at Lowes to have something to do?
4. What did you get right?
5. If you traveled for work, how are you and the wife getting along now that you are home 24/7? Cause I was gone half the year working in the oil industry 21/21 or 28/28.
6. Medicare A,B, D - sort of confusing, dental plan - how much?
Feel free to add "you should..."
TIA !!
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