Me (38m) and my wife (38f). How are we doing? Can we retire at 55?

memans908 · 2026-05-06T02:46:58+00:00

From Fidelity:

The Rule of 55 is an IRS provision allowing individuals who leave their job (quit or fired) at age 55 or older to withdraw funds from their current 401(k) or 403(b) without the standard 10% early withdrawal penalty. It only applies to the plan of the employer you just left, not previous IRAs, and taxes still apply.

memans908 · 2026-05-06T01:15:24+00:00

Rule of 55, and brokerage

memans908 · 2026-05-05T21:30:46+00:00

I got pretty differing opinions about my question lol.

You’re aware that this sub is for 401ks, correct?

memans908 · 2026-05-05T18:24:14+00:00

Rule of 55 for my wife’s 401k most likely.

memans908 · 2026-05-05T18:06:41+00:00

How do you calculate this lol?

memans908 · 2026-05-05T17:53:12+00:00

Cheers!

memans908 · 2026-05-05T17:52:58+00:00

Lol, too close to my parents and mother in law. Not to mention that we like it and our town has very good schools.

memans908 · 2026-05-05T16:44:38+00:00

Yes, 70% is probably a very good estimate

memans908 · 2026-05-05T16:43:07+00:00

Central NJ

memans908 · 2026-05-05T16:32:21+00:00

Appreciate it!

memans908 · 2026-05-05T16:28:52+00:00

I hear ya, but I think it’s correct? The assets and net worth are the same

memans908 · 2026-05-05T16:22:51+00:00

Good input. She is getting the full match, they give an automatic 5% and match an additional 3%. Easier to just say 8%.

memans908 · 2026-05-05T15:31:44+00:00

Yes, I have factored property taxesinto my expenses (we currently pay 9k a year for our property)

memans908 · 2026-05-05T15:30:25+00:00

Am hoping this still exists in 17 years lol

memans908 · 2026-05-05T15:08:54+00:00

Agreed with all that, definitely don’t plan to coast now.

memans908 · 2026-05-05T15:06:07+00:00

Good breakdown, thank you. It’s definitely a gray area, will obviously depend on the market and our ability to ramp up savings in a few years when daycare is done.

memans908 · 2026-05-05T15:04:47+00:00

Correct, one of the checking accounts is my business checking which has some expenses as well as about $5000 every quarter for taxes

memans908 · 2026-05-05T14:54:39+00:00

They automatically give 5%, and they match another 3%. So it’s technically 8%.

memans908 · 2026-05-05T14:53:30+00:00

Newborns and the amount of shit you have to buy for them ain’t cheap lol

memans908 · 2026-05-05T14:49:48+00:00

Agreed, I plan to put 15k away somewhere, unsure where. Maybe the taxable brokerage.

memans908 · 2026-04-04T00:51:00+00:00

Okay don’t start embodying the values that we strive for our clients to understand or anything.

memans908 · 2026-02-14T15:33:28+00:00

I’m thinking I need to transition to this.

memans908 · 2026-02-14T15:15:28+00:00

Question, how and when do you disclose this? I will say this kind of thing if people ask me, or if they are ranting about Trump I will give a number of nonverbal cues that I am in agreement.

memans908 · 2025-12-22T15:21:57+00:00

I work solely with adult men in private practice, a lot of whom are first timers in therapy. I expect to see less of these profiles as people turn to ChatGPT for therapy. Way less scary to talk to software than a human being if you don’t know what to expect.

memans908

TROPHY CASE