Anonymous wrote:

Anonymous wrote:Aiming for annual income of $450k, although that target keeps increasing. Have a pension of about $80k (already receiving it), SS (at 70) of $55k, income/dividends from current holdings of $65k and the rest will come from drawing down holdings. We have close to $10m now, excluding one house, and are about 5 years from likely retirement although might keep working PT for a few years after that.

Will you stay in DC? Why do you keep increasing the target?

We will probably keep an apartment in DC long term. Our other house is in an expensive area as well and we will keep that house. I think we move the target because things are getting more expensive.

$6M is our minimum, $8M would be great and $10M would be ideal. We are also expecting a multi-million dollar inheritance but likely not until our mid 60’s as that side of the family has longevity.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to go at Fed MRA of 57. Single earner HH for past 17 years.
Pension + SS + rental income = $130k
Target is $3+m in non-RE assets so I can draw an additional $120k.
Mortgage will stretch another 5 years after age 57, but it is manageable.

Numbers would bump up significantly if I hung on until 62. But I don't think I can. And seems like $3 million will be enough, even plenty.

you are leaving a lot of money on the table. not only 10% bump but also no COLA for 5 years and lower pension for life time

On the other hand, they’re also getting five full years of time to do whatever they want with while they are as healthy as they will ever be. Money isn’t everything. If it is, they can always defer collecting the pension.

Yes you can quit today if you want.

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

Your # sounds high.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Only one million and I'm almost there at 46. I'm really not a big spender.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Anonymous wrote:

Anonymous wrote:I want to go at Fed MRA of 57. Single earner HH for past 17 years.
Pension + SS + rental income = $130k
Target is $3+m in non-RE assets so I can draw an additional $120k.
Mortgage will stretch another 5 years after age 57, but it is manageable.

Numbers would bump up significantly if I hung on until 62. But I don't think I can. And seems like $3 million will be enough, even plenty.

you are leaving a lot of money on the table. not only 10% bump but also no COLA for 5 years and lower pension for life time

On the other hand, they’re also getting five full years of time to do whatever they want with while they are as healthy as they will ever be. Money isn’t everything. If it is, they can always defer collecting the pension.

Anonymous wrote:

Anonymous wrote:Have you looked into how much IRMAA will hit you, if you take Medicare Part B? Be forewarned .

What the heck is IRMAA?

goo gle gaa gaa

https://www.nerdwallet.com/article/insurance/medicare/what-is-the-medicare-irmaa

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

Anonymous wrote:

Anonymous wrote:I want to go at Fed MRA of 57. Single earner HH for past 17 years.
Pension + SS + rental income = $130k
Target is $3+m in non-RE assets so I can draw an additional $120k.
Mortgage will stretch another 5 years after age 57, but it is manageable.

Numbers would bump up significantly if I hung on until 62. But I don't think I can. And seems like $3 million will be enough, even plenty.

you are leaving a lot of money on the table. not only 10% bump but also no COLA for 5 years and lower pension for life time

DP
Working longer leaves 5 years of weekday life on the table. That's worth a lot of dollars in the grave.

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Anonymous wrote:I want to go at Fed MRA of 57. Single earner HH for past 17 years.
Pension + SS + rental income = $130k
Target is $3+m in non-RE assets so I can draw an additional $120k.
Mortgage will stretch another 5 years after age 57, but it is manageable.

Numbers would bump up significantly if I hung on until 62. But I don't think I can. And seems like $3 million will be enough, even plenty.

you are leaving a lot of money on the table. not only 10% bump but also no COLA for 5 years and lower pension for life time

54, widowed mom of a 17yo. I've been self-employed for the past 10 years and am currently soft launching retirement - I haven't taken on anything new for a while, but my current contracts run through 2025 so I'll be working part-time till I'm 56.

I have a paid-off house, $500K set aside for 17yo's education (and hopefully a leg up with down payment down the road), and $9m in investments. That feels like enough but it is hard to wrap my mind around not working. If I can get over my burnout, I might keep going longer since I genuinely enjoy my work.

$5 million in today's dollars. That's enough for $200k per year using the 4% rule, which would give us a very comfortable life and room for emergencies if necessary.