I had my appointment this morning with the financial counselor. He is also a trusted co-worker, so I have full confidence in his review and evaluation.
The short version is that I explained our debt and repayment plan, he looked at the social security, 401k and pension statements and used his fancy program to come up with a plan.
Of course, life doesnt always go as planned on paper- but he had really good news. He said that if we keep doing what we are doing (he felt we live fairly frugally for our income- yay!) that my goal of retiring at 60 is very much possible. AND he said that, again if all goes as planned, the hub could retire by 60-62 if he wanted to!!! Hurray! We have to stay focused and frugal...but he was very encouraging that it can work.
He was conservative in projections- did not include any equity growth in the homes. Although at 60, we will need to rent the home in town for either close to the payment, or sell it. Which hopefully by then should not be a problem.
He suggested considering upping our 401k contributions to lower our taxable income this year..AND then after debt is paid off, opening and contributing to Roth IRAs.
He did recommend looking into a good disability insurance plan for the hub.
Anyway... THAT is good news!!
Financial Planner appointment
March 14th, 2013 at 10:58 pm
March 14th, 2013 at 11:17 pm 1363303035
March 14th, 2013 at 11:20 pm 1363303231
March 14th, 2013 at 11:22 pm 1363303326
March 14th, 2013 at 11:53 pm 1363305201
March 15th, 2013 at 02:33 am 1363314817
March 15th, 2013 at 02:34 am 1363314863