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Currently my expenses are right at 6k monthly. That’s includes a $2600 monthly mortgage I’m paying that will be paid off in 10 years.
I would estimate 4k monthly living really high on the horse without a mortgage in retirement.
so with just your disability, you are so close to being work optional right now anyways. If you were to take the lump sum and use part of it to pay off your house, you could retire right now, just on your disability. But I imagine that you are sticking it out to get your pension. It must just be nice to know that if you can’t stand your job anymore one day, you could pay off the house and retire whenever you want now!
At 25 years the surviving spouse n employer paid health care in retirement kick in… thats hurdle 1… drop program starts then too.. so 5 more years and then I get the 800k.
If I wasn’t married no kiddos I would retire right now and grab 80k in govt pension + 50k in disability pension.
I worry about the govt pension bc there’s no colas. I know intellectually that my disability is close but I also see housing market issues for my kiddos in 20 years and feel a need to have to make enough to be an umbrella to them while also enjoying a high quality retirement for 40 years.
It’s super 1st world problems n obviously I’m trying to create wealth for my kids.
just food for thought, I wonder if retiring early and being more present with your kids would be more valuable to them than a handout later on? something to weigh, and possibly even ask them.
You are right.