First time poster - GREAT site, really appreciate it.
Worked my way up to senior executive management. Way too much stress, too many planes, too many demands. Want to pull the rip cord and live again but not sure I have enough yet.
STATS:
48, married, no kids at all (no college or inheritance to worry about)
$3M in after tax investments in Vanguard (60% bonds, 40% Dividend Stocks)
$500K in my 401K (100% stocks)
Paid off mortgage - house worth about $650K
Paid off mortgage on vacation condo worth $325K
Total net worth, about $4.5M...I can also turn my condo into a rental if needbe for extra income.
I also generate about $500K a year in cash in my current position. I know it sounds amazing, but believe me, it does come with a severe price to health and happiness. I figure I got 1, maybe 2 years left in me before I wear out...hopefully can roll out into retirement before I am 50 and with $6M in total net worth.
What I am confused about is how to invest to get a 5% tax free return on my $3M that is liquid and at $4.5M net worth, how am I doing compared to everybody else? Do I dump my current investment strategy and just go pure tax-free muni's? Just trying to figure out how I put it all together and pull the rip cord...
Any thoughts or recommendations for me? Appreciate any and all advice...
PS. The cost of health care scares the hell out of me too. We are both healthy and I can do a catostrophic health plan with a $10K deductible, but I heard they drop you like a hot rock at the first sign of anything serious...How are the rest of you dealing with that?
Worked my way up to senior executive management. Way too much stress, too many planes, too many demands. Want to pull the rip cord and live again but not sure I have enough yet.
STATS:
48, married, no kids at all (no college or inheritance to worry about)
$3M in after tax investments in Vanguard (60% bonds, 40% Dividend Stocks)
$500K in my 401K (100% stocks)
Paid off mortgage - house worth about $650K
Paid off mortgage on vacation condo worth $325K
Total net worth, about $4.5M...I can also turn my condo into a rental if needbe for extra income.
I also generate about $500K a year in cash in my current position. I know it sounds amazing, but believe me, it does come with a severe price to health and happiness. I figure I got 1, maybe 2 years left in me before I wear out...hopefully can roll out into retirement before I am 50 and with $6M in total net worth.
What I am confused about is how to invest to get a 5% tax free return on my $3M that is liquid and at $4.5M net worth, how am I doing compared to everybody else? Do I dump my current investment strategy and just go pure tax-free muni's? Just trying to figure out how I put it all together and pull the rip cord...
Any thoughts or recommendations for me? Appreciate any and all advice...
PS. The cost of health care scares the hell out of me too. We are both healthy and I can do a catostrophic health plan with a $10K deductible, but I heard they drop you like a hot rock at the first sign of anything serious...How are the rest of you dealing with that?