Fed gov employee with approx. $2.6m in investable assets (75% stocks), expected $40k a year pension at age 60 (I'm 56 now), and $1.2m in home equity. Live on East Coast but would like to move to West Coast (perhaps North County San Diego) for retirement. Looking at spending $1.6-2m for a home when we move. Would like to retire at 60. Wife and I may work very part time in retirement. One kid in college, one on the way to college with 90% of college covered by 529 plans. Would likely have around $3.6m in four years if I stay at my current job. Would like to live mortgage free so may have to take $ from investments to pay for new house. Other than anticipated travel, we live pretty frugally - only spend around $100k a year. Should I work 4 more years and retire at 60 or stay until 62 where I would have closer to $4m plus slightly higher pension and SS? Job is pretty low stress but I'm a bit burned out. One other option is to take a higher paying job now with more stress for 3 years (could likely command salary of around $500k with my unique skillset). I know we could retire somewhere cheaper but it's important to us to have great weather, cleanish air, culture, outdoor activities. Thoughts?
Statistics: Posted by BernsteinDisciple — Fri Apr 05, 2024 12:27 pm — Replies 3 — Views 267