 Quote:
Originally Posted by jdw_fire
welcome ann,
when it comes to your income i would ask does the $60k net rental income analysis include appropriate consideration of vacancy and major repairs that might happen every 5-10 or more years? and is that $60k net of taxes? it looks like your portfolio (minus rental property) has a value of $1.06 million which at a 3.5%WR gives you about a $37k starting wd that should be adjusted for inflation each year, which makes a $97k 1st year retirement draw.
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The gross rental is $79,200.00. I was thinking of taking $60,000.00 per year and leaving the rest to cover property taxes, vacancies and repairs. The duplexes are fairly new. Have not had much turnover, and my husband is able to take care of minor repairs.
I have gone out on the FIREcal calculator and am not sure of where rental income comes in.
We live a simple life, home paid for and no debt. We currently while we are still self employed are able to contribute to Vanguard Money Pension about 25% of our income or $45,000.00 each. We will be making these contributions for 2009 and 2010 and then if everything works out retire December 2010. 
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