I just want to introduce myself and thank you for all the useful information available here.
I have been thinking about ER for quite some time now, and I'm about to take action
I recently became a father and that really did it for me, I just don't want to work anymore and my goal is to achieve a financial position where I don't have to.
I'm 33 years old and work for a Fortune 500 company. I have a good salary, stock options and awards and I really wish I could stop working when about 40.
I have never invested in my life and all the cash I have right now comes from Real Estate (I have moved a bit and sold in the old location and bought in the new one). I am also from Europe (currently in the US) and I'm planning to retire there. My last move was from Europe to here and I got a nice extra purchase power with the dollar being so weak at the time (+24%)
Out of the 3 steps I have "completed" step one. I have reduced debt to less than $1000 per month (that includes mortgage), I have reduced expenses to about $3500/month, and I have accumulated 130K in savings which is close to my yearly salary.
Now I'm approaching step 2, invest and grow. On a worse case scenario the yearly savings will be 30K for the next 10 years and adjusted to inflation every year, same for the monthly expenses.
What would be a good approach? any advice? Something tells me real estate can be a good thing but at the same time we're just waiting for the bubble to burst, yet it never seems to. I am concerned about the next 10yr mainly