This is my first post, referred here by a good friend who is financially savvy, so excuse any dumb questions.
My wife and I are 43 and 44 respectively, we run a small business and have been able to put away around $2.2 Mil at this point. I did a rough estimate on our expenses and they are about 70-80K a year. We are seriously considering RE at the end of the year and would have about $2.5 Mil at that point (about 1.8M in taxable and 700,000 in 401Ks and IRAs).
We have decided the ongoing stress and employee issues are no longer worth it. Life is too short and we want to spend more time with our children who will both be teenagers soon.
So, based on others experiences, is this doable?
Also, should I seek out a financial planner or two to run the numbers? Or is everyone here comfortable with Firecalc?
Thanks in advance.
My wife and I are 43 and 44 respectively, we run a small business and have been able to put away around $2.2 Mil at this point. I did a rough estimate on our expenses and they are about 70-80K a year. We are seriously considering RE at the end of the year and would have about $2.5 Mil at that point (about 1.8M in taxable and 700,000 in 401Ks and IRAs).
We have decided the ongoing stress and employee issues are no longer worth it. Life is too short and we want to spend more time with our children who will both be teenagers soon.
So, based on others experiences, is this doable?
Also, should I seek out a financial planner or two to run the numbers? Or is everyone here comfortable with Firecalc?
Thanks in advance.