Issues for Boomers: can you afford to retire?

[NRaleighLiberal]

10. Perhaps - we are trying to figure that out right now.

nearly 56, booted out of corporate (but there long enough for health coverage, about 400 per month - and my tiny pension due to a merger situation is about 400 - so a lucky wash).

Just finished a 21 month consulting contract - deciding whether to go back in/seek in that area, or take a complete change in direction.

If my wife and I can limit our total spending to 50K per year, we may be OK (of course, depends on value of IRA when we turn 59 1/2, what SS will look like). Big concern is the unexpected family emergency - so no contingency at all.

But for six months we've got the spending tracking spreadsheet set up, monthly ING acct target balance, looking at the variance.

Though the 25 years in the corporate world had some ups and some big downs, it put us in reasonable shape, for which we are really thankful.