PackingBags
Confused about dryer sheets
- Joined
- Dec 13, 2011
- Messages
- 6
I've been reading this forum for a while now and decided to finally join in! I am hoping to jump in on the early retirement wagon some time in the next year but I am VERY nervous.
Right now we are living in a stand still existence. For the last 10 years my husband has been traveling all over the country, making the bucks, working 80+ hours a week and is only home on the weekends. We own a business that has been doing quite well for the last few years but that should be winding down by 2013.
I've been researching retirement places. I would love to move out of the country where my dollar will stretch a bit more. I'm looking for warm, sunny and in a place where I can wear open toed shoes 365 days a year. Did I mention I live in near Buffalo New York? Yeah...snow, cold, bitter, freezing...I'm done! Hence the warm climate.
We are 40 and 47 years old and have 4 little kids ages 9, 7, 5 and 4. The top places I have been looking into are the pacific coast of Panama, or Puerto Vallarta Mexico. I have a love of the latin culture. We need to keep our location near schools for our kids (Don't even attempt me to talk about homeschooling) and I have no desire to live in a big city. Uruguay has made the list as well but is 3rd runner up because of proximity to the US. Puerto Vallarta is my first choice at this point. Easy access to the US is needed for yearly trips to visit friends and family. If anyone else has suggestions of places, I'm open! I would love to hear people's experiences of retiring with kids overseas!
As far as retirement income, this is where I'm stumped. I've run multiple calculators and some tell me I'll be living like a queen and others tell me I'll be eating raman noodles until the age of 85. Perhaps someone can shed some insight?
Portfolio: I have stuff in multiple accounts so I'm not sure exactly what I have but here is basic overview: Keep in mind that this needs to support 6 people and pay for international schools for (some schools tuition are 40K or more for my 4 kids). My youngest is autistic and may need extra $$ Services.
So here are the numbers:
2 million non-retirement 66% stocks, 23% bonds and 11% short term reserves. 500K IRA same asset mix. Each of my kids has 100K UGMA/UTMA towards college same asset mix. House that I will sell IF i can sell probably around 400K. 401K around 350K same asset mix. We have no debt, own our home and our 3 cars and have a nice array of video games
Spending. I have no idea how much we spend now. I'm guessing around the $150k mark but some are business expenses etc. Some things are quite expensive like our health insurance (1600/mo). I'm estimating spending needs in whatever country I choose to be around 100-150K/year. Again, not sure what things REALLY cost overseas.
Any thoughts? Do you think this is something we could do in this fluctuating market? I'm scared of the economy crashing and being stuck in a financial nightmare. I dream of an ocean view home and someone to clean my house 2x a week!
Right now we are living in a stand still existence. For the last 10 years my husband has been traveling all over the country, making the bucks, working 80+ hours a week and is only home on the weekends. We own a business that has been doing quite well for the last few years but that should be winding down by 2013.
I've been researching retirement places. I would love to move out of the country where my dollar will stretch a bit more. I'm looking for warm, sunny and in a place where I can wear open toed shoes 365 days a year. Did I mention I live in near Buffalo New York? Yeah...snow, cold, bitter, freezing...I'm done! Hence the warm climate.
We are 40 and 47 years old and have 4 little kids ages 9, 7, 5 and 4. The top places I have been looking into are the pacific coast of Panama, or Puerto Vallarta Mexico. I have a love of the latin culture. We need to keep our location near schools for our kids (Don't even attempt me to talk about homeschooling) and I have no desire to live in a big city. Uruguay has made the list as well but is 3rd runner up because of proximity to the US. Puerto Vallarta is my first choice at this point. Easy access to the US is needed for yearly trips to visit friends and family. If anyone else has suggestions of places, I'm open! I would love to hear people's experiences of retiring with kids overseas!
As far as retirement income, this is where I'm stumped. I've run multiple calculators and some tell me I'll be living like a queen and others tell me I'll be eating raman noodles until the age of 85. Perhaps someone can shed some insight?
Portfolio: I have stuff in multiple accounts so I'm not sure exactly what I have but here is basic overview: Keep in mind that this needs to support 6 people and pay for international schools for (some schools tuition are 40K or more for my 4 kids). My youngest is autistic and may need extra $$ Services.
So here are the numbers:
2 million non-retirement 66% stocks, 23% bonds and 11% short term reserves. 500K IRA same asset mix. Each of my kids has 100K UGMA/UTMA towards college same asset mix. House that I will sell IF i can sell probably around 400K. 401K around 350K same asset mix. We have no debt, own our home and our 3 cars and have a nice array of video games
Spending. I have no idea how much we spend now. I'm guessing around the $150k mark but some are business expenses etc. Some things are quite expensive like our health insurance (1600/mo). I'm estimating spending needs in whatever country I choose to be around 100-150K/year. Again, not sure what things REALLY cost overseas.
Any thoughts? Do you think this is something we could do in this fluctuating market? I'm scared of the economy crashing and being stuck in a financial nightmare. I dream of an ocean view home and someone to clean my house 2x a week!