Hi!
I've been lurking on the board for a while and definitely appreciate the advice and the laughs Anyways, like most people, I don't love my job, and would like to stop working. Here's where I'm at, any advice is appreciated.
Stats
Portfolio
Income
Outgoing
So overall, I think I'm in a decent/great spot. Doing some Firecalc and SWR, it looks like i'd be okay. My plan is to work for a couple more years and hopefully sustain a continued bull market and retire towards $2M of assets outside of real estate. Some thoughts:
(1) I'm holding a bunch of cash, albeit in a higher yield internet savings. Am I too cautious given my age? Increase my equity position? Feel like I'm being too conservative w/ my position. Was thinking to hold it for the next downturn? Yup, market timing.
(2) Am going to open a backdoor IRA and start an HSA to shield some more money, but are there other ways to save? or any other investment reqs?
(3) I'm thinking I *could* retire by 40, but thinking I should work a few more years to be safe and pay down some of my properties. My job is pretty good in the grand scheme of things, but work is always overrated.
Again, any feedback/recommendations is great. Always feel like a dick in real life talking about retirement and savings, so it feels like a safe haven when I visit this site. Just trying to get any insights and thoughts from the community. Much appreciated!
I've been lurking on the board for a while and definitely appreciate the advice and the laughs Anyways, like most people, I don't love my job, and would like to stop working. Here's where I'm at, any advice is appreciated.
Stats
- 37
- No wife, No kids
- Fairly healthy
- Higher CoL area
Portfolio
- NW: ~1.825m
- Stocks: 320k
- 401k: 410k
- Cash (Internet Savings): 375k
- Properties: 720k equity (owe 550k, live in a property)
Income
- Job: 230k/yr
- Rent: 3850/mo
Outgoing
- Mortgages+HoAs: 5150/mo ($1450 towards principal)
- Current monthly expenditures (includes int'l travel and hobbies): 2300/mo
So overall, I think I'm in a decent/great spot. Doing some Firecalc and SWR, it looks like i'd be okay. My plan is to work for a couple more years and hopefully sustain a continued bull market and retire towards $2M of assets outside of real estate. Some thoughts:
(1) I'm holding a bunch of cash, albeit in a higher yield internet savings. Am I too cautious given my age? Increase my equity position? Feel like I'm being too conservative w/ my position. Was thinking to hold it for the next downturn? Yup, market timing.
(2) Am going to open a backdoor IRA and start an HSA to shield some more money, but are there other ways to save? or any other investment reqs?
(3) I'm thinking I *could* retire by 40, but thinking I should work a few more years to be safe and pay down some of my properties. My job is pretty good in the grand scheme of things, but work is always overrated.
Again, any feedback/recommendations is great. Always feel like a dick in real life talking about retirement and savings, so it feels like a safe haven when I visit this site. Just trying to get any insights and thoughts from the community. Much appreciated!