PutAForkInMe
Confused about dryer sheets
- Joined
- Aug 16, 2012
- Messages
- 4
Finally pulled the trigger, part of it thanks to some of the detailed introductions on this forum. Thought I would provide my own to maybe inspire someone else. 42 y/o financial executive/professional/entrepreneur, married with one small child.
$$$:
Approximately $2.5M in a 70/30 portfolio with about .3 of that in retirement accounts. I have about 7 funds/ETF's in the portfolio including S&P (majority of the stock), SmallCap, Europe, Asia, TIPS and ST Bonds. The retirement is all TIPS/Fixed income. I balance every year, usually end of year, and if there are any big swings I might think of myself as a brilliant market timer and move more heavily one way or the other (considering getting a little lighter on equity right now). I have also moved everything into small caps in January a couple of times and won. I know its gut/luck but its historically pretty reliable luck. House is worth $500K and have a $200K 15 year at 3%.
Attribute net worth to: i)Starting/selling own company (I believe in my smarts/hard work, but even I know that this is at least 50% luck with the other 50% REALLY HARD WORK/STRESS; ii)Not freaking out in 2008 (saved me at least $500K, would have been better if I was better balanced at the time - live and learn), iii) My latest corporate job which I have been at for a few years now; and iv) Living well but below means and not investing in (too many) risky things after the first risky thing paid off.
Budget:
-We have typically spent between $80K and $100K/year including mortgage and a couple of home upgrades, we would be comfortable at $80K
-Medical is private, high deductible
-Child is now in good public school system
-Wife has medical condition that can/could spike things, but other than that we are very healthy/fit
-I have a ridiculous amount of air and hotel miles
-We buy reasonable cars for cash and drive them forever
-Parents fine, probably inherit something in 6 figures, but not counting on it.
Why/Retired Work/Life:
-While I have a reasonably high paid dream job (averaged about $250K the last few years), I can't do the travel/hours and corporate bs anymore.
-Want to help support spouse more in her ambitions even though they do not pay much more than $5-$10K/year.
-Want to travel for pleasure more and do more camping/outdoor activities with family. Just focus on living well.
-I will continue to consult on select/interesting opportunities and shoot for $50K/year in cash fees at a high hourly rate. Some of that could be with my old Company, but like to wean myself off of that and diversify if I can. Some years might be nothing, others might be $100K+. I think the challenge will be turning down highly paid work for leisure or more interesting low-paying (but high upside) opportunities. That is how I got into the latest corporate job in the first place!
-Worst case (if noone wants me) I can always teach online at about $30/hour (have done it part-time for a number of years).
-Like to maybe spend a couple of years out of the country, perhaps South America.
That's it. Let me know if you have any questions/comments. I have of course run Firecalc and tried to plot out probabilities etc and wrung my hands about leaving a well paid gig with medical. At some point you just have to take the plunge and see what happens.
$$$:
Approximately $2.5M in a 70/30 portfolio with about .3 of that in retirement accounts. I have about 7 funds/ETF's in the portfolio including S&P (majority of the stock), SmallCap, Europe, Asia, TIPS and ST Bonds. The retirement is all TIPS/Fixed income. I balance every year, usually end of year, and if there are any big swings I might think of myself as a brilliant market timer and move more heavily one way or the other (considering getting a little lighter on equity right now). I have also moved everything into small caps in January a couple of times and won. I know its gut/luck but its historically pretty reliable luck. House is worth $500K and have a $200K 15 year at 3%.
Attribute net worth to: i)Starting/selling own company (I believe in my smarts/hard work, but even I know that this is at least 50% luck with the other 50% REALLY HARD WORK/STRESS; ii)Not freaking out in 2008 (saved me at least $500K, would have been better if I was better balanced at the time - live and learn), iii) My latest corporate job which I have been at for a few years now; and iv) Living well but below means and not investing in (too many) risky things after the first risky thing paid off.
Budget:
-We have typically spent between $80K and $100K/year including mortgage and a couple of home upgrades, we would be comfortable at $80K
-Medical is private, high deductible
-Child is now in good public school system
-Wife has medical condition that can/could spike things, but other than that we are very healthy/fit
-I have a ridiculous amount of air and hotel miles
-We buy reasonable cars for cash and drive them forever
-Parents fine, probably inherit something in 6 figures, but not counting on it.
Why/Retired Work/Life:
-While I have a reasonably high paid dream job (averaged about $250K the last few years), I can't do the travel/hours and corporate bs anymore.
-Want to help support spouse more in her ambitions even though they do not pay much more than $5-$10K/year.
-Want to travel for pleasure more and do more camping/outdoor activities with family. Just focus on living well.
-I will continue to consult on select/interesting opportunities and shoot for $50K/year in cash fees at a high hourly rate. Some of that could be with my old Company, but like to wean myself off of that and diversify if I can. Some years might be nothing, others might be $100K+. I think the challenge will be turning down highly paid work for leisure or more interesting low-paying (but high upside) opportunities. That is how I got into the latest corporate job in the first place!
-Worst case (if noone wants me) I can always teach online at about $30/hour (have done it part-time for a number of years).
-Like to maybe spend a couple of years out of the country, perhaps South America.
That's it. Let me know if you have any questions/comments. I have of course run Firecalc and tried to plot out probabilities etc and wrung my hands about leaving a well paid gig with medical. At some point you just have to take the plunge and see what happens.
