Today was our follow up visit with our CFP. We saw him initially on 10/29 at which time we presented all of our information and discussed our plans and goals.
Today he reviewed the results of his analyses. He modeled several scenarios ranging from me retiring at 60 to retiring January 1, 2022. In all but one scenario, our projected success rate was 100%. In the one outlier, our success rate was "only" 99% so I think we could squeak by.
All of his projections assumed that I would have zero income after retirement, which isn't my plan. I anticipate dropping to per diem status and still working a few days per month for at least a few more years. At worst, if I work one weekend a month and nothing more, I'd earn at least $30,000/year. I also plan to do more online sales on ebay and Marketplace and have some money coming in that way, too. So his projections would look even better if you plug in that "post-retirement" income.
His projections also use a 4% rate of return from our portfolio. I certainly hope the long term return will be better than that. Even if it is 5%, that tips the scales even more in our favor.
Bottom line is that he thinks we're well positioned to succeed regardless of what I end up doing or when I end up retiring. I was pretty confident that that would be his conclusion, but it was nice to actually hear it stated.
I will be part time as of next Sunday, 11/28. I'm looking forward to seeing how that goes. I expect I'll find the work-life balance more to my liking and can stick with that for a while. Otherwise, we're set for me to cut back more if and when I decide it's time.