Personal Investments • Retiring at 60. Will I go bust before 80?

Hello,
Seeking feedback on my retirement plan--

Emergency funds: Six months

Debt: No debt

Tax Filing Status: Single

Tax Rate: 14.11% (Marginal 22%) Federal, 4.4% State

State of Residence: Colorado

Age: 57

Desired Asset allocation: 70% stocks / 30% bonds
Desired International allocation: 10% of stocks

Please provide an approximate size of your total portfolio - $156k

Current retirement assets
Taxable
* 0% cash (for investing – do not include emergency funds)
* No taxable investments

His Traditional IRA at Vanguard
6% Vanguard Total Bond Market Index Admiral (VBTLX) (0.05%)
58% Vanguard Total Stock Market Index Admiral (VTSAX) (0.04%)

His Roth IRA at Vanguard
7% Vanguard Total Bond Market Index Admiral (VBTLX) (0.05%)
19% Vanguard 500 Index Admiral (VFIAX) (0.04%)
10% Vanguard Total Intl Stock Index Admiral (VTIAX) (0.11%)

Contributions

New annual Contributions
*$7500 his IRA/Roth IRA (or max allowable) into Vanguard Total Bond Market Index Admiral (VBTLX)


Questions:
1. I intend to retire less than three years from now when I turn 60. At 60, I will receive a small megacorp pension of about $400/month. I will take SS at 62. SS plus pension should conservatively provide an income of about $1500/month. I anticipate after retirement expenses of about $2200/month. Assuming no other retirement savings/income, will I be able to pay the bills for at least 20 years? Assume that I will have to withdraw $1800/month from my retirement savings for the first two years of retirement. Thank you : )

Statistics: Posted by Oxymora — Sat Feb 10, 2024 8:22 pm — Replies 13 — Views 1301

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