I will be turning 59-1/2 in a few months.
That is one of the magic numbers with regards to retirement savings. There are wing-of-bat-eye-of-newt ways to get your hands on the money sooner but you give up flexibility with WOBEON methods.
The traditional advice is to withdraw no more than 4% of your principal every year. Given the low rates of bond returns and the spindly legs holding up equity returns, withdraw rates less than 4% might be smarter.
That is the background of the painting.
The foreground involves immediate needs. I have two vehicles that need new tires and winter is coming.
Mrs ERJ admitted that after living here almost 30 years she would like a water softener and we need a new hot-water heater.
In the mid-distance the roof will need replacing and I am leaning toward steel. The furnace is forty years old and I am leaning toward geo-thermal. Both items are big ticket items.
Life is not a set-piece battle but it is comforting to know where the artillery is positioned at the start of the contest.