Do I have enough to retire? Hi, I'm Carlos and I'm 50 yrs old married with 2 kids. My wife is 43 yrs old and working in health business and brings in around 50k per yr. My job is very stressful but pays well with at least 400k. My eldest kid is starting in state university and will need annual tuition around 30k for 8 yrs (med school). My younger one is going though private school (6 yrs until university) at 20k per yr and 4 yrs of colleague at 25k per yr. To be safe I'm assuming 500k will be needed for their education.
We have a 600k house paid and 4.6M worth of assets plus 340k in 401k. The trick is if I retire 2 yrs from now we'll need to paid 20k per yr for health insurance until I'm 65. Having said that our life style is quite average, I believe without paying for education and health insurance we can live on 70-80k very comfortably.
My wife will continue working for 10 more yrs.
So what do you think? Do I have enough to retire soon if conditions force me? And what type of investment strategy should I adopt?
Thanks in advance and please ask any question you may have,
Carlos
We have a 600k house paid and 4.6M worth of assets plus 340k in 401k. The trick is if I retire 2 yrs from now we'll need to paid 20k per yr for health insurance until I'm 65. Having said that our life style is quite average, I believe without paying for education and health insurance we can live on 70-80k very comfortably.
My wife will continue working for 10 more yrs.
So what do you think? Do I have enough to retire soon if conditions force me? And what type of investment strategy should I adopt?
Thanks in advance and please ask any question you may have,
Carlos
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