Colorado2020
Confused about dryer sheets
Just joined the community today! I am excited about the plethora of information here and also humbled by the many stories of success. I was initially inspired by MMM about 6 months ago, and have gotten serious about early retirement. Let me give everyone a little background about my current situation and would welcome any feedback on next moves
Current situation.
Career: I am working in consulting and making around 90k per year doing something I love but always teetering on the edge of burnout. Career prospects are good and decent annual increases expected
Health: Type 1 diabetes and am heavily dependent on my employers excellent health plan.
Relationship: currently co-habitating with my SO, but not married
Location: Currently living on east coast but long term plan is to end up in Colorado somewhere
Education: 4 year undergrad from Liberal Arts, and MBA from top 20 school
Financial status:
Housing: renting
401k(s): 160K, and contributing 17% of gross per annum
Liquid Assets: 85K in various stocks and index funds. I like to picks stocks but also realize I can't consistently beat the market. I have recently set my auto contributions to this account as 50% of net take home pay
Debt: Zero, Just paid off last of student debt, and no consumer debt
Questions:
1) What should my ER number be? I am thinking around $1.5M based on 25x of 60K annual spending
2) How am I doing?
3) How are people with significant on-going medical expenses viewing their ER situations? are health insurance costs significantly impacting your ER choices?
4) Significant other really does want to talk finances (although I share mine), is that ok when not married?
Looking forward to hearing the communities voice
Current situation.
Career: I am working in consulting and making around 90k per year doing something I love but always teetering on the edge of burnout. Career prospects are good and decent annual increases expected
Health: Type 1 diabetes and am heavily dependent on my employers excellent health plan.
Relationship: currently co-habitating with my SO, but not married
Location: Currently living on east coast but long term plan is to end up in Colorado somewhere
Education: 4 year undergrad from Liberal Arts, and MBA from top 20 school
Financial status:
Housing: renting
401k(s): 160K, and contributing 17% of gross per annum
Liquid Assets: 85K in various stocks and index funds. I like to picks stocks but also realize I can't consistently beat the market. I have recently set my auto contributions to this account as 50% of net take home pay
Debt: Zero, Just paid off last of student debt, and no consumer debt
Questions:
1) What should my ER number be? I am thinking around $1.5M based on 25x of 60K annual spending
2) How am I doing?
3) How are people with significant on-going medical expenses viewing their ER situations? are health insurance costs significantly impacting your ER choices?
4) Significant other really does want to talk finances (although I share mine), is that ok when not married?
Looking forward to hearing the communities voice