Are you comparing the pension ($65K and pretax) against the expenses ($85K and post-tax)?Your pension would cover almost all of your expenses, which may be higher or lower at that point depending on whether you expect your children to attend public school and what activities/expenses might replace the current $18k/yr childcare expense. Would your wife retire also then, or would she continue to work until her state pension vests in 11-12 years? If you both retire in 5 years, and if she gets no pension rather than a reduced pension as a result, AND if you want to fully fund private colleges or possibly even private elementary/middle/high school educations, no you probably can't retire in 5 years. Shy of that? Yeah, you will almost certainly be fine.
Statistics: Posted by wilked — Wed Mar 20, 2024 12:19 pm — Replies 6 — Views 489