427Vette
Recycles dryer sheets
I would like to retire as soon as possible. I have accounts at both Vanguard and Fidelity so I have been able to utilize the opinions of advisors at both places. Both have given me a 100% success rate. I have also ran Firecalc using several different scenarios and am getting 100% success. To further analyze I had the financial person at our credit union run our numbers. She gave me a positive outcome as well. I am looking for opinions from the members here to see if I might be able to actually pull this off. Here goes, I will try to make this as short and to the point as possible.
My wife and I are both 47 years old with no kids and zero debt. Our assets are as follows
2.8 mm in a 60/40 AA portfolio
$450K in cash
$600K in various recreational real-estate. My lake cabin is included in this figure.
Collector car collection valued at around $225K, roughly
The total of the above $4.075mm.
Currently I do own and operate a small business. I have talked to the employees and a business broker. There may be a potential sale on the horizon but I am not figuring on getting anything from it for my retirement planning.
Also our accounts receivable will eventually come in. Currently it hovers around $150-$200K but I don’t figure that in as well. It will depend on the taxes that apply that year and I always have thought of it as counting your eggs before they are hatched if I were to plan on any of it.
We will receive a combined total of about $20K annually from Social Security in 15 years.
I want to spend about 100K annually. Our current expenses including health insurance are $93K. Keep in mind our invested assets are only $2.8 mm right now. At some point I will certainly sell some of the land, cars and maybe some day the cabin. But those things are a lot of what I plan to do in retirement, for the short term at least.
I have a personal goal of getting my portfolio to $3 mm before I thought seriously about retiring. It might happen soon. I feel like a dog chasing a car, I want to know what to do when I get there!
Thoughts, ideas, criticisms?
Thanks in advance.
My wife and I are both 47 years old with no kids and zero debt. Our assets are as follows
2.8 mm in a 60/40 AA portfolio
$450K in cash
$600K in various recreational real-estate. My lake cabin is included in this figure.
Collector car collection valued at around $225K, roughly
The total of the above $4.075mm.
Currently I do own and operate a small business. I have talked to the employees and a business broker. There may be a potential sale on the horizon but I am not figuring on getting anything from it for my retirement planning.
Also our accounts receivable will eventually come in. Currently it hovers around $150-$200K but I don’t figure that in as well. It will depend on the taxes that apply that year and I always have thought of it as counting your eggs before they are hatched if I were to plan on any of it.
We will receive a combined total of about $20K annually from Social Security in 15 years.
I want to spend about 100K annually. Our current expenses including health insurance are $93K. Keep in mind our invested assets are only $2.8 mm right now. At some point I will certainly sell some of the land, cars and maybe some day the cabin. But those things are a lot of what I plan to do in retirement, for the short term at least.
I have a personal goal of getting my portfolio to $3 mm before I thought seriously about retiring. It might happen soon. I feel like a dog chasing a car, I want to know what to do when I get there!
Thoughts, ideas, criticisms?
Thanks in advance.
Last edited: