Al in Ohio
Thinks s/he gets paid by the post
I am turning 52 and picked a date just after labor day in 2016 (9-16-16) on a Friday when I will be 55. I would have considered labor day, but hey, I want to get paid for that Holiday right! My DW and I make about $175k annually and I have no debt (paid off the house about 4 years ago- maybe 5). We LBOM and pay off all credit each month on what few cards we have, pay cash for cars and drive them for 8-12 years regularly then sell them for 30% what they were new since they are well cared for Honda's or Toyotas. We like to travel, but always hunt for super deals. I enjoy my job about 2/3rd of the time, but I really enjoy the freedom of having time off more than anything else. I was lucky enough to work from home for a year and a half and I loved it. I have also been able to work several years on a 4 day a week schedule (32 hours ave, not 4 tens). The BS bucket drains out fast on a 4 day on 3 day off schedule let me tell you. My plan is to actually negotiate that into my current job in about a year for my remaining two years. It makes the job vs family life schedule so much easier and tolerable. I am in a high demand position, so this is very doable. My DW is 6 years younger and also works full time in a professional position. She really enjoys her job and would work another 6-8 years after I FIRE. My health insurance (currently under my employer) would then shift to hers to give us coverage. We discovered a few years ago we exceeded a million in net worth and we are now saving $60k or more each year in combined max 401k, 403B, ROTH and even non retirement muni funds. I should add another $150k myself to the pot before FIRE date for me. My DW will continue to earn over $70k after I retire until I am 60-62. Seems pretty doable to me. I figure on maybe $7k per month expenses after we both retire, but I need to start budgeting. We have 2 sons neither in college yet, but the oldest is only 2 years off (I will still be working another year after he choses his school) We have over $150k in their 529's.
Any advice on what to do in the next 3 years while I'm still working? Oh and there's a good chance I could consult as a 1099 for 300-500 hours per year at age 56 -57 if I want. I can figure that out when the time comes. Did that before and know all the ins and outs. I charge double my current salary hourly wage to consult.
Any advice on what to do in the next 3 years while I'm still working? Oh and there's a good chance I could consult as a 1099 for 300-500 hours per year at age 56 -57 if I want. I can figure that out when the time comes. Did that before and know all the ins and outs. I charge double my current salary hourly wage to consult.
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