Pick apart my retirement plan

[JoeDirt]

Look at starting a business, there are ways with a business to save more for retirement as "other incomes" while taking advantage of other write offs.

 

[Deerhunter6250]

$8k a month take home? Anyone who can’t live on that and hunt their ass off needs to reevaluate their spending. The plan looks great to me. I’m hoping to go when I hit 20 years but I’ll be bringing home less than 1/2 of that. Ill have to get a second job but at least I won’t be wearing a duty belt anymore.

Sounds like you have a great plan, I would maybe set aside money for the kids wedding I bought stock in their name) before you retire. I told them they could use it to get married or for a house downpayment. I also put their education money in a 529 account. I don't drive new vehicles. I now do small construction jobs on the side when I'm not hunting or fishing, there's a big demand for that. My health insurance is a big factor but now that I am 62 my SS will help pay for that. I am still saving money each month.

 

[thegrouse]

I retired in my 40s with a similar situation as you. Look into doubling up your 457 contributions your final 3 years. IRS allows it, of course you have to check with your plan. You should be able to dump double the annual max of your leave bank into a 457 upon retirement. I made sure I did all my final health/dental/vision checks. I count on getting SS so that will be an inflation adjusted income source in retirement. If you create an account on the SS website they will show you what you will get at what year. Start studying now on taxes and withdrawals. Plan on vehicle replacements, roof replacements and other costly home repairs that will come up.