We are too young to actually retire, so we will just sock away the money and my wife will probably start to work part time after she turns 50. I need to work my gov’t job for 10 years to get my pension and other benefits, but that will only put me at 57. Our jobs aren’t horribly stressful, well, mine isn’t. My wife is ready to quit. Our goal is to have $4,000,000 in retirement when we quit. We just passed $2.1M this year.
We could probably live off of $60,000 a year. We will have IRAs, pensions, and SS to live off of. My wfie will get max SS and mine won’t be too bad. That might be $4,000 a month right there. It is hard to really determine what we will need since we won’t be travelling all the time, but we will start to really focus on expenses a few years out and see what we will be spending. Like I said, one car might go away, we will probably kill cable since we will probably be doing some volunteer work. We are close to living off of my $80K salary so I imagine we can do just fine with $40K-$50K a year. I don’t plan on getting inheritance from the parents, but if we were, it might be a few hundred thousand from her parents and mine.

We might end up selling our house and moving into my mom’s condo one day after she passes away. The maint. fees are about $700 a month now and might be higher, but that includes insurance and water, so we are already paying $5,300 a year in property taxes and $2,500 a year in homeowners insurance. Her condo is half as much as our house in size and cost and it is paid for. So could sell our house for $400,000 and just use that for a long time to pay for regular expenses. We have an HSA and hope we can build that to pay our LTHI premiums once we stop working.