Hello,
I visited this forum years back when I sold my business, and received some great advice on here from some very friendly and helpful people.
I am currently 46 years old, and would like to retire in the next 12 months. I am married with two kids 18 & 16.
I continue to be burned out from work. While I am currently making 6 figures, coupled with 4 weeks of vacation, and a wonderful place to work, I feel like I need to re-evaluate myself, and my direction in life. I am simply tired of what I do. My job is so customer service oriented, and stressful that I cannot take 1 day off without getting hammered with phone calls. I need peace. I'm tired of high demanding customers. I currently work 5:30am to 4:30pm 5 days a week. Most days my lunch is 30 minutes or less. I am really worried as I get older that I will stroke out, or have a heart issue and miss out on life. I take things seriously at work, and take things to heart.
Liquid assets - $3.20mm+ (assumes no 2011 investment return), of which $2.20mm in non-retirement accounts and $1mm in retirement accounts.
Other assets/debts - $400,000 House, Cars, etc.. No Debt, Zero
Kids (ages 18 and 16) assets set aside for college - $125k, each (250k total not included in the above 3.20
Budget - We currently spend 150k pre-tax dollars. This will not change in the next 10 years.
Portfolio - Our portfolio is professionally managed. I am pretty confident the portfolio will average 4.5%.
Income - My wife is 42, and will work at least until she is 52. We have a great health plan via her work. Her income is only $15k, but the health insurance is valuable.
Health - We are fortunate to have great health.
I currently have no plan on what I will do. I know I will volunteer and help in the community. I would like to get in better shape (I'm not overweight). I want to be in the best physical condition in my life when I turn 50.
If I give up this job, there is no turning back. I will be done. Finding another job is not easy, and I would have to start from scratch establishing myself.
I am looking for advice on how my situation looks? I am confused on my tax situation post retirement. Any advice is appreciated. Can I make it?
Thanks in advance TD
I visited this forum years back when I sold my business, and received some great advice on here from some very friendly and helpful people.
I am currently 46 years old, and would like to retire in the next 12 months. I am married with two kids 18 & 16.
I continue to be burned out from work. While I am currently making 6 figures, coupled with 4 weeks of vacation, and a wonderful place to work, I feel like I need to re-evaluate myself, and my direction in life. I am simply tired of what I do. My job is so customer service oriented, and stressful that I cannot take 1 day off without getting hammered with phone calls. I need peace. I'm tired of high demanding customers. I currently work 5:30am to 4:30pm 5 days a week. Most days my lunch is 30 minutes or less. I am really worried as I get older that I will stroke out, or have a heart issue and miss out on life. I take things seriously at work, and take things to heart.
Liquid assets - $3.20mm+ (assumes no 2011 investment return), of which $2.20mm in non-retirement accounts and $1mm in retirement accounts.
Other assets/debts - $400,000 House, Cars, etc.. No Debt, Zero
Kids (ages 18 and 16) assets set aside for college - $125k, each (250k total not included in the above 3.20
Budget - We currently spend 150k pre-tax dollars. This will not change in the next 10 years.
Portfolio - Our portfolio is professionally managed. I am pretty confident the portfolio will average 4.5%.
Income - My wife is 42, and will work at least until she is 52. We have a great health plan via her work. Her income is only $15k, but the health insurance is valuable.
Health - We are fortunate to have great health.
I currently have no plan on what I will do. I know I will volunteer and help in the community. I would like to get in better shape (I'm not overweight). I want to be in the best physical condition in my life when I turn 50.
If I give up this job, there is no turning back. I will be done. Finding another job is not easy, and I would have to start from scratch establishing myself.
I am looking for advice on how my situation looks? I am confused on my tax situation post retirement. Any advice is appreciated. Can I make it?
Thanks in advance TD