The Motley Fool Discussion Boards

Previous Page

Financial Planning / Foolish 401(k)s


Subject:  Re: 55 year old rule Date:  6/11/2013  1:21 AM
Author:  whyohwhyoh Number:  25052 of 26128

Thanks for all the comments. I've been looking around for someone who actually executed on this strategy. So far it looks plausible.

I'd like to take a break at 45 to spend some time with my kids before they start into high school, then likely start working once they are off to college, or at least one of them. Possibly my wife will start working, several options. Maybe never go back.

At 45 I will have been at the same company for 22 years, and targeting about 1E6 in 401k+Roth and 0.4E6 in taxable accounts&cash and ~0.6E6 in house net worth but don't want to sell until the kids are gone for awhile. (Not much in Roths, as we haven't been eligible for many years). So at 45 we'll have quite a bit of NW tied up in home NW and my 401k.

I am quite skilled in what I do, although if I do reenter it would likely be at a somewhat reduced pay scale (as in my line of work a good portion of income is delayed somewhat LTI etc). This I could handle, as I just need a few more years to get by until I could more easily tap that 401k at 55. It would be a gamble, but worst case I find a job at another company and wait till 59.5 ( or stop a bit early and use SEPP). I've got quite a bit of networking to be able to take a few years off.

Back in 1999 I did leave my company for a short while, and when I returned I was able to just restart depositing into the same 401k account.

Just pondering my options and long term strategy going forward.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us