I am interested in hearing feedback on my situation.
I'm 34, wife is 33. 4 and 6 year-old kids, another on the way.
$400K in IRA and 401(k) accounts
We own about $300K of a house worth approximately $1M
$1.167M in a brokerage account
$130K in 529 accounts
The total is about $2M.
I also have equity in a privately held company. The equity is worth roughly $6M today. I can't get at any of that money until the company exits, which may happen in a few years, but who knows really.
My wife and I both work. Currently she makes $400k/year and I make $140k/year.
We spend about $140K/year after taxes.
When my equity becomes liquid, we will definitely be retiring.
In the meantime, I am thinking about quitting anyways. My wife is interested in continuing to work for a while, and we could live on her salary alone while waiting for my liquidity. She's okay with me quitting now if I take on more of household/kid duties.
What do you think; can/should I quit now, or should I keep working until liquidity? Thanks in advance for your thoughts.
I'm 34, wife is 33. 4 and 6 year-old kids, another on the way.
$400K in IRA and 401(k) accounts
We own about $300K of a house worth approximately $1M
$1.167M in a brokerage account
$130K in 529 accounts
The total is about $2M.
I also have equity in a privately held company. The equity is worth roughly $6M today. I can't get at any of that money until the company exits, which may happen in a few years, but who knows really.
My wife and I both work. Currently she makes $400k/year and I make $140k/year.
We spend about $140K/year after taxes.
When my equity becomes liquid, we will definitely be retiring.
In the meantime, I am thinking about quitting anyways. My wife is interested in continuing to work for a while, and we could live on her salary alone while waiting for my liquidity. She's okay with me quitting now if I take on more of household/kid duties.
What do you think; can/should I quit now, or should I keep working until liquidity? Thanks in advance for your thoughts.