Pension kicks in after 10 years only if the OP works another 10 years and will get 60%. If retires early, the OP will have to wait for age 62 and will get less.Listed expenses from above are $76k. You surely forgot to list some stuff, your withdrawals from retirement accounts or taxable accounts will have taxes, and also life happens, so lets say you're withdrawing 100k to 125k per year. 125k on 2.15M in savings is a 6% withdrawal rate, but you're only doing it for 10 years. Then your pension kicks in and covers everything. Then social security at some point, increasing your income even more. At IRA RMD time, you'll have too much income. It seems like you probably have a safe retirement secured already.
Your spouse can retire now. You can retire any time in the next 10 years, with each day increasing the likelihood of your retirement success just a bit. I would plan on working the full 10 years or close to it. That decision can maximize the value of spouse retiring now with kids in school.
Statistics: Posted by Metsfan91 — Sun Mar 31, 2024 11:16 pm — Replies 9 — Views 546