Fender's final approach to retirement.

[fenders53]

(11-24-2021, 08:43 AM)bankerboy Wrote: You bring a good point for those retiring before 65 or before whenever their SSN/ IRA and/or health care kicks in. That is after tax cash.

Most folks like my wife and I save virtually all our careers in 401K or IRAs. I’m almost 58 and looking at retiring at 64 as my kids will be out of undergrad college then. With the wife being younger she will work 3 years when I retire until 62. Unless I save enough cash between now and then…..for her to go earlier.

Retiring early has a big challenge called health care. It will take quite a bit of cash to pay health care premiums for a minimum of 4 years for us both if we hit our plan, even more if we go earlier.

I’d be interested to hear updates on your journey towards these last 6 months and if you need to alter your plans after.


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Heath care costs are difficult to predict decades in advance.  I have VA benefits from my military deployments.  My wife will have insurance in 11 months when I turn 60.  It's as good as I could hope for.  I believe I will be ineligible for Medicare.  I will be living on 401K only for six months, then two pensions start.  Two years later I am very likely drawing SS at age 62.  My wife's SS when I am 65.  It will work out.  I have enough of the 401K in cash to cover a few years of livings expenses so I could turn off the computer if the stock market melts down two months before I intend to retire.  I'll reach my "earnings" peak at about 65 if I include my wife's benefits.  

It sounds like you have a good plan.  I think retiring at 65 is not going to be something most enjoy 20 years from now.  SS certainly won't do it alone and most don't fund their 401K enough to retire early.