Hi Forum Members,
I’ve enjoyed reading the posts in this forum for the past month and signed up last week. The posts on this site, along with other research I’ve done, has given me plenty of information on things to consider for early retirement.
I’m a 53 year old single guy living in California and think I might be at the point where I am financially independent and can say good bye to my j*b if I chose. Total retirement assets crossed the $1.5M line last Friday (does not include cash for short term spending and funds required to pay off the mortgage). About half of assets in taxable account and the other half in 401k and Roth IRA (all Vanguard index funds). Asset allocation is currently 80% stocks/20% bonds. Estimated social security payment ranges from about $18K/yr starting at age 62 to $31K/yr start at age 70. My maximum expenses would be $60K/year (includes current nonmortgage expeditures+$8K for health insurance+$15K for travel). FIRECalc says I’m at 98% success rate even if I decrease social security payment by 10% to take into account possible future reductions. Figuring on a second career as a landscape photographer, but not sure if I’ll earn any money from it. Any comments appreciated.
Charley
I’ve enjoyed reading the posts in this forum for the past month and signed up last week. The posts on this site, along with other research I’ve done, has given me plenty of information on things to consider for early retirement.
I’m a 53 year old single guy living in California and think I might be at the point where I am financially independent and can say good bye to my j*b if I chose. Total retirement assets crossed the $1.5M line last Friday (does not include cash for short term spending and funds required to pay off the mortgage). About half of assets in taxable account and the other half in 401k and Roth IRA (all Vanguard index funds). Asset allocation is currently 80% stocks/20% bonds. Estimated social security payment ranges from about $18K/yr starting at age 62 to $31K/yr start at age 70. My maximum expenses would be $60K/year (includes current nonmortgage expeditures+$8K for health insurance+$15K for travel). FIRECalc says I’m at 98% success rate even if I decrease social security payment by 10% to take into account possible future reductions. Figuring on a second career as a landscape photographer, but not sure if I’ll earn any money from it. Any comments appreciated.
Charley