No. of Recommendations: 1
"Wife and I have close to $3M in stocks, bonds, cash, annuities, 401K, etc. We would be 60/64 in 2020,or 61/65 in 2021 so we would still not be eligible for full SS, or medicare, so we would need to purchase Health Insurance until we both hit 65. We are estimating we would need about $120k/net per year for our lifestyle. My wife would take her SS at FRA, of 66.5, and I would try to wait til 70 to maximize mine. Trying to figure out if we have enough to pull the trigger and retire, without worry? There will be some inheritance down the line, hopefully way down, but we can estimate that at about $500K conservatively. I have done so many calculators and Monte Carlo simulators and some say we are fine, others say we still don’t have enough. So many of you are more knowledgable than me on this, I thought I would ask. Thanks. "

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Just in passing, DW and I had also estimated retirement spending needs as $120000 - but
we have found that our actual expenses are lower - more on the order of $80000 to $85000.
We overestimated how much we would spend on all fronts - and that includes healthcare and
housing costs. We have not moved from the area where we lived - although we had a special
allocation set aside to cover that potential.

Spending is quite and individual thing and what one experiences will not hold for another - but
checking over the budget is a good thing. A $3 million nest-egg is a great place to be - and
you should have options that others will not have. Good luck and congrats.
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