40 y/o, married with an 18 month. We plan to have no more kids. My wife is a federal employee with TSP account and will get a pension on top of it. We have a house with a $150k left on it at 2.1%, but do plan to move into another house at sometime with the goal to make our current house a rental.
For me personally I my goal is to retire at 60 with some part-time work of what I enjoy doing where income generated through work isn't important, and I can just do something I enjoy immensely.
That said I have 3 accounts for retirement
Roth IRA (75k with max contributions each year)
Simple IRA ($90k with max contributions each year)
Brokerage Account ($255k with leftover contributions after the first two).
My goal is to starting pulling from my brokerage first at 60 while letting my IRA's continue to grow, starting pulling fro my SIMPLE later and finally Roth when I hit RMD's, all while pushing back SS as far as I can to get max withdrawals later.
I understand there are a lot of factors involved when you add in income and tax rates to figure out many details. But is it a conservative thought to put in inflation at 2.5% while growing the accounts at 6-8% (based on which one it is) with an estimation of average expenses (factoring in inflation) to get a rough gauge if I am on track?
Also is the withdrawal pattern, brokerage, simple, Roth the preferred way to go?
For me personally I my goal is to retire at 60 with some part-time work of what I enjoy doing where income generated through work isn't important, and I can just do something I enjoy immensely.
That said I have 3 accounts for retirement
Roth IRA (75k with max contributions each year)
Simple IRA ($90k with max contributions each year)
Brokerage Account ($255k with leftover contributions after the first two).
My goal is to starting pulling from my brokerage first at 60 while letting my IRA's continue to grow, starting pulling fro my SIMPLE later and finally Roth when I hit RMD's, all while pushing back SS as far as I can to get max withdrawals later.
I understand there are a lot of factors involved when you add in income and tax rates to figure out many details. But is it a conservative thought to put in inflation at 2.5% while growing the accounts at 6-8% (based on which one it is) with an estimation of average expenses (factoring in inflation) to get a rough gauge if I am on track?
Also is the withdrawal pattern, brokerage, simple, Roth the preferred way to go?
Statistics: Posted by AK59 — Sun Jan 05, 2025 1:36 pm — Replies 1 — Views 96