Am I on track with my retirement plan?
I am doing a check up to see if i am on the right track or if i need some tweaking. Thanks in advance.
Quick facts about me. Im 40. Work in local government in California. I plan to retire at 50. My pension would kick in at 55 and be valued at about 80k a year. As for medical im currently enrolled in a new HSA plan so maxing that and all my retirement accounts. I have tracked my spending since 2018 and on average I spend, everything included, about 53k a year. This is just based on me, no spouse.... yet. Pretty general, i know things like inflation and such play a role. I do estimates of 6% a year return on my future returns.
Retire @ 50. Move out of California to a more tax friendly state.
Use brokerage account, which im hoping will be about 250k by then to live off of. Roughly 50k a year and if short will dip into general savings.
@ 55 start collecting 80k pension and pulling 4-ish % from my 457b account which is about 80/20 Roth to Pre-Tax. Hoping at this time will be at about 800k.