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Old 03-11-2015, 08:04 PM   #1
Confused about dryer sheets
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Hi everybody

Hospitalist checking in.

Thank you everybody for all the knowledge provided, i have been a lurker for long time.
I came to US in 1999 with nothing but debt and a medical school diploma. Did the necessary tests that year and started my residency in 2000, finished in 2003 and started my real job then. I have been working very hard and started my own small group of hospitalists. My family consists of me, my wife and my 6 years old daughter. We are debating the idea to retire early but feels like we are still young and may keep working for a few years. I am 39, wife 38, who works as an assistant of a small company's COO

We have about 5 million in retirement account (4 M in after tax and 1 M in tax deferred, tIRA, rIRA, SEP, 401K, HSA) all invested in low cost index funds at vanguard and fidelity.
House worth around 600 K mortgage free and daughter's 529 plan around 250 K, which are not part of the retirement account.
Our expenses are around 120 K per year including taxes and healthcare.

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Old 03-11-2015, 08:33 PM   #2
Recycles dryer sheets
Join Date: Feb 2014
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Welcome! Well yours is certainly a unique backstory. Impressive. I'll offer a welcome to the forum and let others who have a more entrepreneurial history chime in. Suffice to say, you are well positioned.

Some questions you might hear may surround the details of your work. Most folks here tend to be employees rather than owners. Will there not be a sale of assets in your retirement?

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Old 03-11-2015, 08:38 PM   #3
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That's a 2.4% withdrawal rate. (Not counting real estate or 529). There are some who'd say you're cutting it to close given your relatively young ages. Others would disagree.

I assume you've got enough SS & Medicare quarters to qualify for SS, since you've been here more than 10 years.

I think you'd be fine to pull the plug if you're willing to pull in the spending if there were an extended downturn.

Again, Welcome to the forum.
Retired June 2014. No longer an enginerd - now I'm just a nerd.
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Old 03-12-2015, 08:42 AM   #4
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Congrats on your success and welcome to the active forum.

Based on your assets and how you have them invested, I'd say you are good to go. There are not too many sure bets in life, but you are very well positioned to have a successful ER from a financial standpoint. I do agree with Rodi in that if you only have a short stay left to qualify for SS, you should wait till that ticket is punched.

Again, welcome.
Retired July 2013 at age 49.

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Old 03-12-2015, 10:07 PM   #5
Confused about dryer sheets
Join Date: Mar 2015
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Thank you for your responses

We do qualify for social security and medicare as we both have accumulated more than 40 working credits already, however i have not had the chance to calculate how much my benefits will be once we reach retirement age, i am not even sure if social security will still be there at that time. I hope at least medicare will be there...

My small hospitalist company may have some value to be sold once we decide to retire, but not counting on that as minor healthcare changes by the goverment can wipe us out easily.

Our investment is around 70% stocks and 30% bonds. Recently met a financial planner for the first time in my life, he wanted me to move my assets to his investment company for a "low fee" of 1% of my assets annually, and emphasized how well they do. I told him that I am getting charged around 0.1%. I went to a financial planner because i wanted reality check by a professional, and to see what else can I do to legally minimize my tax burden, but instead i sat there for 2 hours listening to them trying to convince me move my assets, anyways not a good experience...

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Old 03-13-2015, 06:24 AM   #6
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Originally Posted by rodi View Post

......I think you'd be fine to pull the plug if you're willing to pull in the spending if there were an extended downturn.

Again, Welcome to the forum.
+1 You're good to retire anytime you want to as long as you stay away from those leech FAs.

Since you are Vanguarding, you could have them do a retirement plan for you.

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