30 YO wants to retire at 50...how am i doing?

[Eastfolk]

Bit behind schedule again but here's a brief Year 5 update:

* Age: Me and DW are both 35. DD is 2!
* Household income: TBD. Gross income this year will be about $500k but includes about $200k severance. Took a voluntary package at work with nothing else lined up at the moment.
* Total current net worth: $1.3 million excluding home equity
- 5k cash
- 576k in 401k
- 563k in vanguard brokerage account
- 130k Roth IRA
- 58k in HSA
- 250k equity in my house which I'm not including in my NW.

After a disastrous 2022, looks like the markets may end up being not so bad this year. As mentioned above though, I did take a severance package at work which will give me about a year's comp. Definitely had some sleepless nights leading up to my decision, but think it was the right one. My last day will be in a few weeks at which point I'll probably take a month maybe two off to preview FIRE before I look for another role. Hopefully it doesn't take too long to land somewhere as I'd like to keep the momentum going.

 

[Koolau]

Wow. That is quite a good change from your original post. You've been earning big and saving bigger. Congratulations.


Good luck on finding another position. Keep up the good w*rk on saving and investing and you will be able to retire BEFORE 50.

 

[MarieIG]

Good luck with your plan Eastfolk. Maybe keep some of that severance easily accessible to reduce any potential stress while job searching.

And spend some time with the family!

 

[pacergal]

Looks like you are doing well.
Best of luck with new job search and continuing to move forward.
Enjoy time with family along the way, time spent is irreplaceable.