TomatoTomahto wrote:In many ways, your situation isn't all that different from mine (more accurately, my wife, who is the the one still working). When I ask her if she'd be comfortable stepping away, she says that maybe we should give it a couple more years. It's obviously not just the money. So, how would you feel about stepping away in July. The money, while not infinite, is the least of your worries.
Thank you for the financial affirmation. As to what is next (if I go) that is unclear but would involve making less but owning my schedule along with several hobbies. Maybe even a new business. Currently sorting through those questions.
kenschmidt Thanks as well. The spending is a net number and pension is before tax so a little different but close.
Watty - I do not understand ROTH conversions versus RMD's. Will make an appt with a CPA and get a clear answer. Thank you for your review.
btenny - all great thought provking questions, which I was hoping to get from this forum. As to projections, I do get an annual financial planning review fron Vanguard and Fidelity. Based on their advice the $1,000 monthly health care seems like a good starting point. Spouse is out of the workforce. As to hobbies, I will enjoy what I have been able to save but will never go too crazy with spending. Was also fortunate enough to send children to college out of current income at the time.
interplanetjanet - will probably pay off mortgage to avoid the indecision of how and when to invest the lump sum! Thank you.
Boglenaut - Actually love the work and people, just hate the "clock" and what has become excessive travel. Thanks for weighing in.