green night
Recycles dryer sheets
- Joined
- Sep 26, 2010
- Messages
- 77
Here's my story.
38, wife, 3 kids.
$80K of equity on a 425K house.
Retirement accounts = $350K
I have $180K in deferred compensation. Basically when i leave my company, I receive this over 10 years. It grows in a risk free manner .... roughly 2-3% based on short term govt bonds.
I have another $250K in general stock holdings. A little bit of everythings ... apple, large dividend payers .... roughly a beta of 1 or a little less.
Tied to a rural area of michigan. Some family concerns that ties the family to the area.
My plan was to retire at 45. Between now and 45 .... save roughly $85k/ year. Continue to contribute to the deferred compensation. Use the $700K to pull $85K / year from 45 - 55.
At 55, begin drawing down my general holdings.... should be at $490K.
At 59 1/2, begin tapping the 401K.... should be at $1.4MM based on 6% growth.
Have $50K for college for the kids.... put in $10K per year.
Salary roughly $150K, plus options and bonus (not a given). Wife could teach but is staying home, helping the kids get to sports and all that.....
That was my plan ... but I realize as of late, I hate working. I think I'm burnt out ... basically went from my full time mba to working at the company i'm at now. Been there 13 yrs and never had more than 1 week off at a time. Was a manager of a large facility ... stressful! Now managing a project. I have a great boss but just can't stand going in.
I think I have a great resume. Mostly in the operations area. I would like to do something part time. Corporate training maybe? Something that I can do 1/2 time. Summers off would be great. Would love to teach at a community college or junior college. However, I can't find any openings at all.
Any advice? Thoughts?
TIA ... love the site. Thanks for your help!
38, wife, 3 kids.
$80K of equity on a 425K house.
Retirement accounts = $350K
I have $180K in deferred compensation. Basically when i leave my company, I receive this over 10 years. It grows in a risk free manner .... roughly 2-3% based on short term govt bonds.
I have another $250K in general stock holdings. A little bit of everythings ... apple, large dividend payers .... roughly a beta of 1 or a little less.
Tied to a rural area of michigan. Some family concerns that ties the family to the area.
My plan was to retire at 45. Between now and 45 .... save roughly $85k/ year. Continue to contribute to the deferred compensation. Use the $700K to pull $85K / year from 45 - 55.
At 55, begin drawing down my general holdings.... should be at $490K.
At 59 1/2, begin tapping the 401K.... should be at $1.4MM based on 6% growth.
Have $50K for college for the kids.... put in $10K per year.
Salary roughly $150K, plus options and bonus (not a given). Wife could teach but is staying home, helping the kids get to sports and all that.....
That was my plan ... but I realize as of late, I hate working. I think I'm burnt out ... basically went from my full time mba to working at the company i'm at now. Been there 13 yrs and never had more than 1 week off at a time. Was a manager of a large facility ... stressful! Now managing a project. I have a great boss but just can't stand going in.
I think I have a great resume. Mostly in the operations area. I would like to do something part time. Corporate training maybe? Something that I can do 1/2 time. Summers off would be great. Would love to teach at a community college or junior college. However, I can't find any openings at all.
Any advice? Thoughts?
TIA ... love the site. Thanks for your help!