Reply to What's your "number"?

Forum Index » Money and Finances

Reply to "What's your "number"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I am 50 yr old female fed with combined retirement accounts of $3.9-$4M.  This excludes our primary residence (more than $1M equity but excluding since we need to live somewhere so doesn’t generate any income) which will be paid off by the time DC1 reaches 2nd year of college.  I will have a fed pension of at least $90k when I retire at 60.  Since I’ll have 30 years of service there will be no deduction in amount for taking it before 62.  [quote]As wives generally live longer than husbands he will sign the release to survivor benefits so I can collect the full amount right away.[/quote]  Also plan to collect social security earlier.  Even without a mortgage the cost of taxes and home owner ins will be at least $20k by then.  Also any amount is treated as taxable income so need  about 380k if you want to live off 250 post tax.  Thankfully we’ll have health insurance as a retired fed.

I plan to travel quite a lot and help  the kids beyond college so my ideal number is $8M but either way plant to pull the rip cord at 60.[/quote]

This seems crazy to me. Reduced benefits only cost you 5% of your pension. Seems like a very cheap insurance for the unlikely event that you will die accidentally. This way, your husband will still have access to your health insurance.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics