40 and starting to refine our plan
I've been lurking around this message board for about 2 years now and finally taking the plunge.
Here are the details:
Me: 40, DW: 49 (retired), 2 children 9 and 11
My 401k: $575,000
My Roth IRA: $50,000
DW 401k: $400,000
DW tIRA: $80,000
College (9 year old): $90,000 (split between 529, custodial, and general)
Home Value: $470,000
Net worth: ~1.5M
Expenses: $85,000 (include mortgage)
Hope to retire at 52 (2027).
We've run FIRECalc using many scenarios and all are very positive. Have my own spreadsheets that I use as another data point as well as Quicken and its planning tools. So we feel pretty confident of our high level plan.
Recently brought in an estate planner (fee only) to run some independent calculations and review our plan and documents (wills, beneficiaries, insurance, etc.) and his results also confirmed that we're on a good path.
Another reason for the estate planner is he is also a specialist in special needs planning as our 11 year old has Down Syndrome (hence no college planning or any assets in her name) so planning for her needs after 18 and after we pass is very important.
Both DW and I are LBYM (~ 30% saving rate) and don't really see that changing. I enjoy what I do now and it's very low stress so can't complain but also the prospect of ER at 52 or earlier is very exciting.