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Retire Now Update

May 1st, 2019 at 08:08 am

I have continued to refine and update my "if I retire right now" spreadsheet.

I have extended the final line to the month I turn 100. I will tweak my monthly withdrawal to maintain steady income from date of retirement to the month I turn 100. The next month, I will be flat broke.

Extending the time out several more years reduced my beginning monthly withdrawal amount. Good portfolio growth the past two months has increased it.

In addition to my nest egg, I am including the cash value of my pension plan. Because I am not yet vested, if I were to retire now, I would not receive a monthly pension payment. However, I would be entitled to a refund of all I have paid in (but not the amount my employer has paid in on my behalf). I would roll the money into my 457 plan and so it would become part of my little nest egg. Once I vest, I will forfeit the cash value so will no longer include it in this calculation. However, I will receive a monthly pension which will certainly factor in.

My new monthly beginning withdrawal amount is...$1,406.00. (I am sticking with whole dollars).

Nope, not yet. Better keep working.

3 Responses to “Retire Now Update”

  1. starfishy Says:

    love hearing about your calculations. what is your monthly amount that you are aiming for in order to make the retirement decision?

  2. rob62521 Says:

    Interesting calculations!

    It also gives you the incentive to keep working until you are happy with the numbers.

  3. Petunia 100 Says:

    Starfishy - no solid number as yet, but I know I'm not there. I am open to working part-time, or maybe working full-time in tax season to supplement my income. Also I need to feel comfortable that I can rely on obtaining health insurance via the ACA post-retirement, and right now I just don't.

    Rob - yes. Plus, I just love to crunch numbers. Smile

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