Hi All,
First time poster, long time lurker. What a great forum and I thank you all in advance for your thoughts.
I'm 40 and my wife is 45. I currently work for a nonprofit and my wife has her own business. My salary is 100k and my wife's business makes 50k on average. We also get free health care through my employer.
Before I worked in the non-profit space, I was a professional athlete. Not in a making 10's of millions of dollars way, but in a way that allowed me to invest a good portion of my income for 12 years.
I am feeling pretty burnt out from my current employment. I'm basically "on call" all of the time and am traveling 100 plus days a year. I'm looking for a change or potentially going part time but I'm having trouble leaving such a safe thing. One part of me wants to go part time in a way that we could cover all of our living expenses, but would no longer allow us to contribute to our investments. Even with a high NW, this scares the hell out of me. Is this understandable or am I crazy?
The other part that scares me is that I do not have a college education. I have a pretty "high up" position now for not having a degree, and I'm not sure I could find something like this again if I go part time or leave the work force all together.
Current yearly expenses= 70k (does not include taxes or health care)
Investments: 3.8 M (70/30 allocation, 3 fund portfolio, only 400k in tax advantaged accounts with the rest in taxable)
Home worth 1 M. This includes a building for my wife's business. Don't think McMansion here; it's a newly built home with lifetime materials and is low energy use.
No Kids.
What would you do in my situation? Thanks in advance for your thoughts!
First time poster, long time lurker. What a great forum and I thank you all in advance for your thoughts.
I'm 40 and my wife is 45. I currently work for a nonprofit and my wife has her own business. My salary is 100k and my wife's business makes 50k on average. We also get free health care through my employer.
Before I worked in the non-profit space, I was a professional athlete. Not in a making 10's of millions of dollars way, but in a way that allowed me to invest a good portion of my income for 12 years.
I am feeling pretty burnt out from my current employment. I'm basically "on call" all of the time and am traveling 100 plus days a year. I'm looking for a change or potentially going part time but I'm having trouble leaving such a safe thing. One part of me wants to go part time in a way that we could cover all of our living expenses, but would no longer allow us to contribute to our investments. Even with a high NW, this scares the hell out of me. Is this understandable or am I crazy?
The other part that scares me is that I do not have a college education. I have a pretty "high up" position now for not having a degree, and I'm not sure I could find something like this again if I go part time or leave the work force all together.
Current yearly expenses= 70k (does not include taxes or health care)
Investments: 3.8 M (70/30 allocation, 3 fund portfolio, only 400k in tax advantaged accounts with the rest in taxable)
Home worth 1 M. This includes a building for my wife's business. Don't think McMansion here; it's a newly built home with lifetime materials and is low energy use.
No Kids.
What would you do in my situation? Thanks in advance for your thoughts!
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