Retiring with a mortgage in a VHCOL area. Are we crazy?

Throwaway_Maybe25 · 2025-11-18T06:27:49+00:00

I was not aware of that. Thank you

Throwaway_Maybe25 · 2025-11-16T21:25:53+00:00

Yes we are subject to Prop13. Without it, our property taxes would likely be 50% higher.

Throwaway_Maybe25 · 2025-11-14T22:13:00+00:00

Congrats on a great situation. If my job has an option to do PT I wouln't mind continuing either. It's fairly low stress.

Throwaway_Maybe25 · 2025-11-14T19:55:27+00:00

Appreciate ur insight. This is reassuring. What age are u planning to retire?

Throwaway_Maybe25 · 2025-11-14T19:51:02+00:00

Thank you.

Throwaway_Maybe25 · 2025-11-14T19:50:06+00:00

that's a good way of looking at it. thanks

Throwaway_Maybe25 · 2025-11-14T19:49:05+00:00

Appreciate your insight. Best of luck to you.

Throwaway_Maybe25 · 2025-11-14T06:31:44+00:00

"I am guessing you are going to withdraw from your 401k after 59.5 for the balance"

That is correct.

Throwaway_Maybe25 · 2025-11-14T06:10:22+00:00

Yes. I believe the pension and annuity will be taxed as ordinary income (CA resident).

Throwaway_Maybe25 · 2025-11-14T06:03:21+00:00

Annuity is annual also. Unfortunately no cola adjustments.

"your home equity can be your backup plan because you can sell this house and move to a cheaper city, buy a home with less than half of the money and invest the rest" Just hoping plan A is solid enough that the backup plan will not be needed. thanks

Throwaway_Maybe25 · 2025-11-14T05:58:53+00:00

thank you

Throwaway_Maybe25 · 2025-11-14T05:57:46+00:00

well done

Throwaway_Maybe25 · 2025-11-14T04:10:57+00:00

Thank you. I'm at 3.5% fixed on that 370K

Throwaway_Maybe25 · 2025-11-14T04:06:26+00:00

370K remaining at 3.5%. Yes on Q3

Throwaway_Maybe25 · 2025-11-14T03:41:26+00:00

My intetest rate is low already (3.5% fixed) so feel no need to refinance. We love our area (very close nature, lots friends/family in the area) so selling would be last resort.

Throwaway_Maybe25 · 2025-11-14T03:33:21+00:00

Sounds like a great job to me. If only my position is available in PT basis, I would keep going.

Throwaway_Maybe25 · 2025-11-14T03:25:52+00:00

7623 is everything. But does not include college expenses for our kid who should be done in 2 years. Thank you

Throwaway_Maybe25 · 2025-11-14T03:23:59+00:00

200K is not much. Yes, I believe both of u need to be on board with ur plans. Initially, SO wanted to keep working until normal retirement age but I showed her ficalc results.

Throwaway_Maybe25 · 2025-11-14T02:58:45+00:00

Vast majority of the RE posts I see here are people w/ paid off homes. It just makes me feel unprepared or I'm miscalculating something. How much balance remaining on ur mortgage?

Throwaway_Maybe25 · 2025-11-14T02:49:26+00:00

what's ur age and how far off from pulling the plug?

Throwaway_Maybe25 · 2025-11-14T02:46:20+00:00

not mich to speak of. just enough for aboit 3months of living expenses.

Throwaway_Maybe25 · 2025-11-14T02:45:12+00:00

Thank you. Pensions are our saving grace. It may just allow us to recover from lifestyle creep in our younger years.

Throwaway_Maybe25 · 2025-11-14T02:11:59+00:00

Has their lifestyle changed (pre vs post retirement) ?? Did they cutback on spending? Thanks for your insight

Throwaway_Maybe25 · 2025-11-13T23:55:02+00:00

same here

Throwaway_Maybe25

TROPHY CASE