UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev | Next
Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: calcualte my retirement plans Date: 4/6/2012 4:54 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
pulling 1000 from IRA monthly

Why? If your SS income is $2850/month, and your expenses are actually $2600, you shouldn't need to pull anything from the IRA.

If the 'about $2600' isn't accurate, and it's really 'about $3850' (in line with the $1000/month you are planning on pulling, plus your SS income), then you are being pretty aggressive about spending the money in the IRA, IMO. Spending your IRA too aggressively opens you up to the potential of running out of your IRA, and you (or more likely, your wife) having to survive on just SS, which will be less after one of you dies.

I think before you can make the decision of whether retiring on 1/1/13 is a good idea or not, you need to be a lot more certain about your monthly/annual expenses vs. your SS and IRA income.

AJ
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement