u/Same_Ad_621

3.5m at 60. Would that be enough?

Is 3.5m (brokerage + IRA + 401K) at 60 good enough for lasting the next 30-35 years? Plan is to take social security at 70. Combining with my wife, it is about 5K per month. I'm calculating about 100K for living expenses plus or minus. Plan is to do Roth during the 60-65 range. Have to work out details. For healthcare, potentially, my wife or I will work till 65, will try to avoid going ACA if possible. There's also the option to sell the home and use the equity for living expenses. Another option is to move to a tax free state after 60. Per Fidelity: https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age

Your response is a key collective input on when to pull the trigger

u/Same_Ad_621 — 8 days ago

▲ 19 r/Retire

Do you stop abruptly or transition to retirement?

Initially I thought of stopping work at 60, but then realize healthcare is the bogey till 65. Explored ACA and staying under the cap, but that will be a challenge. Another option is to sell the home and rent and utilize the home proceeds to subsidize living. One more option is for my wife or I to work just for health care. For me, I'm now thinking I should opt for a lower paying job. That is the plan anyway. Will know next year. Thought of sharing here

reddit.com

u/Same_Ad_621 — 17 days ago