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Old 08-27-2016, 07:44 AM   #1
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Hello, back again, new story

So I'm not exactly new here, but circumstances have changed a bit. Since I was here last life has been different, divorced now and my dreams have changed a bit. My goal is to fire in about 5 years when I am 45. Below is my current portfolio, just looking for some feedback on if I am crazy or you guys think it is possible. I would love to become an expat, thinking non metro area in Spain, traveling there for the first time in February to check it out. Have a friend living in Granada so I have a bit of personal insight into cost of living there so it seems doable.

Vanguard taxable: 670k
Vanguard IRA: 370k
Vanguard Roth IRA: 11k
401k:45k
Phantom stock options in private company: 240k (I count these as 0 in my net worth)
Cash: 180k (too much I know but I like a large safety net)
Home equity: 200k

I max out 401k and try to save about 3k a month in taxable account.

My friend said for a single guy you could get by on 2k a month and would be living well on 3k a month in Granada.

What do you guys think, am I just dreaming or does it look possible?
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Old 08-27-2016, 08:16 AM   #2
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Last time you asked this question, you got some answers that said "How much do you spend?" To help you answer, check out this post: Some Important Questions to Answer Before Asking - Can I Retire?

Do some homework - find out what the 2k/mo or 3k/mo covers, and then compare that to what you think you will spend based on your current spending and how that spending will carry over to retirement. Five years is a long time so stay flexible. You have done a great job on the saving side.
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Old 08-27-2016, 09:09 AM   #3
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Should be a piece of cake to let the portfolio grow 5 years and then draw 40-50k a year from it... plus you'll likely have some SS when you are in your 60s. What does Firecalc say?
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Old 08-27-2016, 09:26 AM   #4
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You did much better than me with that divorce!
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Old 08-27-2016, 09:33 AM   #5
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You did much better than me with that divorce!

We both did well, I had some inheritance from my mom and thankfully I was in charge of the savings/investing while we were married. 😉

Running firecalc for 50 years with my current portfolio, not including cash or equity from home or the phantom options that are only worth something if the company sells I get 100%. I am very conservative though, so I guess that's why I ask for reassurance.

Ive done some research on rental costs, food, transport, utilities, health insurance (although that is the big unknown) and it certainly looks like 25k would cover the basics, more looks like icing on the cake.
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Old 08-27-2016, 01:30 PM   #6
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When do the phantom options crystalize? If you are at 100% now without the cash or home equity, why wait until 45?
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Old 08-27-2016, 01:37 PM   #7
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When do the phantom options crystalize? If you are at 100% now without the cash or home equity, why wait until 45?
Not until a "qualifying event" either going public or being sold, so that's why I don't even factor them in.

The 100% is based on retiring in 5 years, not current
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Old 08-27-2016, 08:11 PM   #8
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If it's a clear and compelling goal to live abroad, why wait? Or, why not take a 1-2 year sabbatical and try it out since you're still young and newly free? Otherwise, my observation is that over five years one can grow roots and obligations and, possibly, relationships with people less interested in living abroad.
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Old 08-27-2016, 08:26 PM   #9
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If it's a clear and compelling goal to live abroad, why wait? Or, why not take a 1-2 year sabbatical and try it out since you're still young and newly free? Otherwise, my observation is that over five years one can grow roots and obligations and, possibly, relationships with people less interested in living abroad.
The biggest thing keeping me here right now is my dad, he isn't in great health, and with my mother passing a few years ago I don't think I could up and leave him right now. Plus, I am taking a spanish course and would like to continue taking progressing on those before I make the leap, but that is secondary at this point.
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Old 08-28-2016, 04:50 AM   #10
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Just curious....since you apparently have never been there before, why Spain?

Not that I don't like Spain, I do, but why not Portugal, France, Italy, Croatia, etc; have you been to these places, or is it just that you have a friend in Spain?
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Hello, back again, new story
Old 08-28-2016, 07:22 AM   #11
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Hello, back again, new story

A few reasons, my friend is there, climate, cost of living. I'm not certain I would stay there forever, but I think that is where I would like to start my expat life. I've certainly considered the other places you mentioned, and I've never visited them either other than France and Italy and they didn't really appeal to me enough to stay longer than a vacation although I wouldn't mind moving around every few months either before settling long term.


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Old 08-28-2016, 07:22 AM   #12
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Maybe they want to put their Spanish to good use? So, what about Mexico, Latin America, or South America (ex-Brazil)?
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Old 08-28-2016, 07:40 AM   #13
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A few reasons, my friend is there, climate, cost of living. I'm not certain I would stay there forever, but I think that is where I would like to start my expat life. I've certainly considered the other places you mentioned, and I've never visited them either other than France and Italy and they didn't really appeal to me enough to stay longer than a vacation although I wouldn't mind moving around every few months either before settling long term.
Your original post just piqued my curiosity is all; you hadn't been to Spain (a major draw for many people) previously, so I wondered about the extent of your travels to date.

Moving around before committing to a long term stay in any particular city/town is a good idea, there are many to choose from....Barcelona for example.

Good luck, I'm sure you'll enjoy your visit/stay.
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Old 08-28-2016, 08:12 AM   #14
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Thank you, my plan this trip is to visit Madrid, Sevilla, Granada and Barcelona but there are so many more to explore I'll have to return


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Old 08-28-2016, 10:09 AM   #15
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For costs, Croatia would beat Spain and everyone speaks English.

OTOH our friends for California spent 3 years in Antequera and bought a row home there which they still own. We visited them in 2005.
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Old 08-28-2016, 10:46 AM   #16
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I think Croatia will probably be my next trip to check it out, it is definitely another option I have considered


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Old 08-29-2016, 07:48 AM   #17
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We have some acquaintances living in Lubrin, small village. They are not retired yet, but could probably give you a good idea about expenses outside of larger cities.

https://www.anunclutteredlife.com/our-story/
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Old 08-29-2016, 10:55 AM   #18
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I've done some research on rental costs, food, transport, utilities, health insurance (although that is the big unknown) and it certainly looks like 25k would cover the basics, more looks like icing on the cake.
I hate to beat a dead horse but don't "think" how much you will spend. You need to "know" how much you will spend. Start tracking your expenses for couple of years. Once you "know" you current expenses then you know what to adjust based on where you move, healthcare, etc. If you move to different country then you can also use current expenses as a baseline for your lifestyle and divide/multiply them by PPP (Price Purchasing Parity). No research will tell you your expenses for YOUR lifestyle.
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