Countdown to retirement

[disykat]

Everyone. I don't know all the ins and outs since DH and I were exempted due to how close we were to retirement, but if you do not have proof of your own LTC insurance you are enrolled in the state plan and it is deducted like state income taxes would be in other states. - We don't have state income tax otherwise, we have sales tax.

 

[georgina]

Read all about it! WA Cares Fund

Interesting. He works for a small company in New Jersey, I wonder if they even know about it, since it seems to be a payroll deduction.

 

[AlohaNow]

If I may ask, why are you taking SS at 62?

The simplest answer is because my spreadsheet tells me I can!

 

[china mom]

At 57 4.5-5 million would be considered a no worries retirement for most everyone with a $200,000 annual budget using the traditional 4% rule. It really all depends on your spending habits and if you live in a high cost of living location if that number works for you. If your house is paid off and all you need to worry about are insurances, property taxes, maintenance, utilities etc, a lot of that pot becomes fun money. However, if you have a large house to maintain those costs can be very expense as a new roof on a 4000K sq ft house is about 100K by us vs $25k for a 1400 sq ft house. I think it's important to sit down together as a couple and map what you see as your wants, needs and goals in retirement and once you have that it's easier to focus in on a number that you need to achieve. With so many financial calculators available on the internet, I don't think it's necessary to sit down with a financial planner if you have been maintaining your assets and investments on your own all along and are financially savvy. Too many just want a cut of off the top of your investments without doing anything different than you can do yourself.

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

 

[princesscinderella]

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

I agree we live in SoFla which has become so expensive and contractors will take your money and not show up so the big companies know they can get away with charging more because they aren’t scammers. We also have very strict codes with extra roofing supplies needed for hurricane protection.

 

[greeneyedchick]

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

I live near Orlando and need a new roof. The quotes I got are between $98,000-$138,000 for a spanish tile concrete roof (required by the HOA). House is single story, 5000 sq. ft.

 

[jeenydav]

I still have some years of work ahead, but honestly already counting.