Hi Everyone.
Newcomer to the forum and looking forward to gaining any wisdom or insights possible. Decided in my mid-twenties that early retirement was my goal, and now that I'm closing in on 50 the question is becoming less theoretical and more: when? where? and of course, how much?
I've employed the work, save, and live below my means method for the most part. Had a couple of disasters along the way that set me back several years, but feel I am close to the cusp of retirement.
Everyday I go to work, I ask myself: "why are you still doing this?"
I am 48, a Canadian citizen, but have been living and working in the US for 20+ years. Currently in the SF Bay Area, single, no kids.
Monthly expenses: $3000
Monthly savings: $4000
CURRENT ASSETS
$330,000 - Stocks
$280,000 - 401K
$100,000 - Business Capital
$90,000 - Precious Metals
No Real Estate.
Or right around 800k liquid. Not enough to retire in San Francisco, but my plan relies on relocation. Candidate destinations include: Belize, Costa Rica, Malaysia, Thailand, Ukraine, and Vietnam.
Key factors being: climate, cost of living, culture, and more favorable tax status.
According to some calculators, I could retire with a pretty secure $3000 a month stream of income until my expected time of expiry. It may not be a luxurious amount, but it's what my current expenses are, and "should" be more than adequate living abroad in a low cost country.
So what's holding me back?
With so much of my savings in liquid assets, and the volatility in the world and markets right now, a little more padding in the portfolio would give me a bit more confidence.
My profession favors the young, and making a return to employment a few years from now would be difficult. I don't want to end up feeling like I quit too early. I do have some earning potential in retirement as a consultant, as my work can be done online, but there are no guarantees of course.
Well, anyways, that's where I'm at, if there is anyone out there who has been down, or is on a similar path, would be interested in learning from your experience.
thx
Newcomer to the forum and looking forward to gaining any wisdom or insights possible. Decided in my mid-twenties that early retirement was my goal, and now that I'm closing in on 50 the question is becoming less theoretical and more: when? where? and of course, how much?
I've employed the work, save, and live below my means method for the most part. Had a couple of disasters along the way that set me back several years, but feel I am close to the cusp of retirement.
Everyday I go to work, I ask myself: "why are you still doing this?"
I am 48, a Canadian citizen, but have been living and working in the US for 20+ years. Currently in the SF Bay Area, single, no kids.
Monthly expenses: $3000
Monthly savings: $4000
CURRENT ASSETS
$330,000 - Stocks
$280,000 - 401K
$100,000 - Business Capital
$90,000 - Precious Metals
No Real Estate.
Or right around 800k liquid. Not enough to retire in San Francisco, but my plan relies on relocation. Candidate destinations include: Belize, Costa Rica, Malaysia, Thailand, Ukraine, and Vietnam.
Key factors being: climate, cost of living, culture, and more favorable tax status.
According to some calculators, I could retire with a pretty secure $3000 a month stream of income until my expected time of expiry. It may not be a luxurious amount, but it's what my current expenses are, and "should" be more than adequate living abroad in a low cost country.
So what's holding me back?
With so much of my savings in liquid assets, and the volatility in the world and markets right now, a little more padding in the portfolio would give me a bit more confidence.
My profession favors the young, and making a return to employment a few years from now would be difficult. I don't want to end up feeling like I quit too early. I do have some earning potential in retirement as a consultant, as my work can be done online, but there are no guarantees of course.
Well, anyways, that's where I'm at, if there is anyone out there who has been down, or is on a similar path, would be interested in learning from your experience.
thx