How am I doing...
I've been reading these retirement forums for a while. I'm about 20 years away from retirement but have been thinking about it a lot lately and would like some opinions if you wouldn't mind. Here's where we are so far:
Me: Approximately 200K in retirement profit sharing plan
Me: Defined pension plan at work, but not very good.
Spouse: 10K in 401K (new job, currently contributing 12% of gross)
Spouse: Pension from old job of 2,500/month full retirement age of 65 (much less if taken early of course)
Me and Spouse: Social Security???
Current savings: About 10K
We still have 24 years left on our mortgage and pay some extra every month. We would like to each open an IRA, but it's a little tough to come up with the extra money.
So. Any comments or suggestions? For those who are retired or about to be, would you have done anything differently? I guess I've reached the age where retirement is really something to think seriously about. Wish I had done it sooner. Thanks for taking the time.