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Old 03-23-2016, 08:45 AM
7 posts, read 4,340 times
Reputation: 20


Newbie just starting to be organized about retiring. I am 49and husband is 53. Due to an illness that recurs, I am making plans to be ableto retire between 59- 60. I really love what I do, but it requires my need tobe super focused. Not able to do that as well as before treatment. As myillness will come back, I want to be prepared. I love what I do and the people,but it is definitely hard to stay on task more now.
Brief summary
House will be paid in 3 years with a good chunk of monthly excesscash accomplishing this goal
I max out my 401K and have for years.
Husband is late to game Professor. He will have statepension with 26-33% of his current salary depending on when he retires
We have investments in dividends and some cash
I have been thinking of investing more in dividends stocks.
Trying to find a good balance. Suggestions on tweaking myplan to pay down the house, save a bit more cash and invest in dividends? Arewe better off slowing the pay down of the house and investing? If cancer comesback sooner, I don’t want my husband left with a house payment. His salaryeasily covers expenses, but want him to have peace of mind.

What type of software do you use to track your investments,cash, etc.? Our financial advisor seems to think we should be good with theamount of our 401K, pension and investments, but I want to see it on the screen.

Last edited by ecowtent; 03-23-2016 at 08:47 AM.. Reason: copy issue
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Old 03-23-2016, 09:50 AM
6,230 posts, read 4,721,373 times
Reputation: 12746
The issue of mortgages has come up many, many times. Some people just "feel" bad having any sort of debt including a mortgage. I took out a mortgage I did not need because the rate was so low. I feel confident that over the long haul I will be able to earn a lot on the mortgage money. For the first two years that happened. This year I lost but am still way ahead for the past 3 years.

For long term investments, stocks or stock funds are the best choice. Unfortunately a high allocation can turn ugly for the short term due to volatility and the ever present risk of a major correction. Long term yields for a 60% allocation are not much behind the 100% allocation. The lower allocation can mean smaller changes and quicker recoveries.

Your situation is not the norm. First, let me wish you the best of luck with your health. My sister beat cervical cancer almost 20 years ago, lung cancer 15 years ago, giant cell arteritis, and now aortic disease. Don't get too discouraged. Modern medicine can often work miracles.

I was not sure about your husband's health and future. If he has a long life expectancy and plans on working for many more years, then I think both of you should invest for the long term. I would not be in a rush to pay off a low interest rate mortgage. I would increase stock investments. I do not look for "dividend" stocks. I am concerned about the overall return whether growth or dividend. You also need to think about taxes. Dividends are taxed yearly. Capital gains are deferred until the assets are sold. That could mean paying less in taxes.
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Old 03-23-2016, 01:49 PM
Location: Mount Airy, Maryland
10,459 posts, read 5,922,719 times
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I wish I had the time to give a more complete answer. But I do have the time to wish you good luck in your battle.
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Old 03-23-2016, 03:09 PM
58 posts, read 41,621 times
Reputation: 162
I use a windows package I downloaded from http://retirementcalculationsystems.com/ - it is shareware so you can do the basics free, then register if it suits you. It does produce a graph so you can see how your projections will work out.
I know the author and have been helping test it since it went to Beta test so if you need help understanding what it does or how it works I will be happy to help.

Last edited by RetireGuy; 03-23-2016 at 03:17 PM.. Reason: typed incorrect link
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Old 03-23-2016, 07:45 PM
29 posts, read 22,127 times
Reputation: 37
As for online software, I heard Mint is good https://www.mint.com/
but I prefer Personal Capital https://www.personalcapital.com/
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Old 03-24-2016, 05:43 AM
58 posts, read 41,621 times
Reputation: 162
Both Mint and Personal Capital are pretty products and are online, but I won't use them because they require you to enter account numbers and passwords. The RetirementCalculationSystems system is offline so you download and install it and then enter your own data. It is less convenient, you have to update your balances monthly, but I prefer that approach as I do not have to give any third party my passwords.
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Old 03-24-2016, 11:54 AM
7 posts, read 4,340 times
Reputation: 20
jrkliney-thank you for the feedback. I had not thought of it from the tax side for dividends, but I will need to add in to my calculations. I agree I am a little different than some, but everyone has baggage that changes their situation. Luckily my "C" is treatable and has a longer life expectancy. Plus, I have the best kind if you are going to get one ...or so everyone tells me .

Husband plans to retire at 65 to increase his pension. He is fairly healthy. Both accountants-not same fields- you would think this would come naturally, but it doesn't.

Our dividend portfolio hasn't done much which had me thinking to change our thinking. I feel better paying off the house, but would be inclined to move more to stocks if we had better returns.

Dave-thank you. My plan is to be prepared for the worst and laugh as I enjoy retirement and outlive everyone.

Retireguy-downloaded last night the free version. I have tried out several and each one returns that we will have enough. I am not certain when I will feel that one is correct.

Retireinbliss- I was hoping that personal capital wasn't online. It makes me nervous, but I like the look of it.

Thank you-all feedback is welcome!
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