Gut check, retire at 50?
I’m looking for a gut check on whether my FIRE plan seems reasonable or if I’m missing major risks. I personally feel like it’s looking good, but the level of my mom’s angst has me hoping for some feedback.
I’m currently 46 (turn 47 in August), single w/ no kids, live in a low-medium COL area, and am targeting retirement in August 2029.
Current assets:
401(k): $789k
Roth IRA: $170k
Taxable brokerage: $160k
HSA: $48k
RSUs: ~$32k (vesting over 3 yrs)
Paid off house ($315k)
No debt other than a 0% car loan
Total investable assets (excluding RSUs) = $1.1M
I’m saving like crazy:
~$2,200 biweekly into taxable
401(k) up to employer match approx. $8.5k per year + $8.5k match
annual bonus/RSUs mostly invested
additional investing after hitting SS wage cap
Estimated additional investing before retirement:
Total annual savings = $100k-ish
Most of the savings are going into SGOV in my taxable account right now because my biggest concern is SORR, plus I need to bridge to 59.5. My bridge plan includes the taxable account, Roth laddering and maybe SEPP while also managing taxable income.
My planned spending is average $92k per year all in with taxes, health insurance and accounting and including stuff like home maintenance and vehicle sinking funds. A good $20k+ of that is discretionary spending so I have levers to pull if needed.
Annual expected income
Social security: $27k @62, $39k @67, $48k @70
Pension (not inflation adjusted): ranges from $13.5k if I start taking it at 55 to $59k at 70
Does my plan seem reasonably viable? Anything missing?