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Old 04-14-2016, 03:16 AM
71,520 posts, read 71,694,121 times
Reputation: 49105


Originally Posted by Alcar View Post
Quick Summary:

59.5 this June. Married. We have 1.2M in 401K type accts. including a pension lump sum. Financial advisor has a plan for us to net close to $100K/yr after taxes, with 95% probability for 30+ yrs (this plan includes SS and my wife's salary for a couple more years).

Financial advisor has a plan for you to net 100k after tax with 95% probability for 30 years?
How is that gonna happen? I would think seriously about running, not walking, away from this guru.
to achieve 95% probability by industry standards you would max out at 4% inflation adjusted with a 50/50 mix . that is 48k a year before taxes .

you do not say how much the other income is but if the 100k has more than 48k coming from the 1.2 million then the probability he is using is not the standardized updated trinity study data and is a meaningless probability without knowing the parameters .

perhaps he is including annuity products which have high cash flows .

if we dump 1.2 million into an spia we can see as much as 72k in income from it at 65 but then you have no money . so perhaps he is doing a partial annuitization beefing up cash flow but taking away from the 1.2 million .

not a bad thing unless you die early . in which case the money is spent and heirs do not see it .

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Old 04-14-2016, 04:53 AM
Location: Jamestown, NY
7,841 posts, read 7,327,156 times
Reputation: 13779
I'm generally a "wait as long as you can" advocate, but you seem to have your financial ducks in a row, and you hate your job, so as others have said, go for it. I assume your wife will be carrying health insurance for both of you through her job. That's probably the biggest drag on your plans, how you pay for that between when your wife retires and when you both get to 65 and are eligible for Medicare.
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Old 04-14-2016, 08:03 AM
6,878 posts, read 7,276,074 times
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1) I don’t get all the agita. He’s not walking out the door tomorrow...he said the earliest would be June. And he didn’t say he couldn’t stay until in November (even if you don’t get a ‘bonus’ you’ll have the additional savings) AND, didn't he say he has a part-time job lines up.

2) If the OP is 59-1/2 and has 1.2 mill in 401k-‘type” accounts – and his wife will keep working. I don’t see the issue of “only” having 30-40 K in cash.

3) Just boost your cash between now and the time you stop working, out of your remaining paychecks. Or tap the darn 401k. there's no penalty.
Note I'm saying deplete them I'm saying tap them IF you need to.

OP, I take it you have NOT done a ‘test-drive’ – and tried living on your “retirement income amount” to see how that feels? You're saying you're retirement expenses with no mortgage and no car payment will be 80K a year?? For some reason I had the impression you had no debt….

If you HATE the job then retire, if you can handle it one day at a time for another year then stay another year. I’d retire. But that’s just me. You clearly have some doubts about that. I just don't see the reason for the apparent angst.

Last edited by selhars; 04-14-2016 at 08:12 AM..
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