I have checked out this site before and there seems like alot of great advice so I decided to join. I am 46 have three kids (16, 13, 12) and a wonderful supportive wife. I sold my construction company at 42 worked for the buyer until 44 and have been retired for the past few years. My days are spent working out and piddling around the house until the kids get home then I am a full time tutor to my kids as I have relearned all the stuff I once learned in school and had no use for until now (quantum physics
give me a break).
My experience in investing has been somewhat distressing. I picked a not so great time to get into the markets about two years ago. I have been through 3 sets of brokers as each of them keeps switching firms. I have finally decided to go self directed with fidelity. Why pay them .7% for setting up an allocation and investing me in mutual funds. Seems insane.
I am very conservative as an investor. I think you really only learn how risk tolerant you are after you have been through a market like we have in the last year and you correlate the stock market dive with how much sleep your getting. As for me I was not getting much and I was only 40% equities. That being said, I am wondering how to calculate a cash reserves and portfolio allocation given that I am only 46 with kids and no income. My investments total about $4.6 million and no debt. Are there any good resources or tools that take into account ones early retirement age, kids and no income in planning what I can spend, and what allocations I should have given my risk tolerance. Any help would be great.