Hi, I'm Steve and I want to retire in my 40's

[southerndwelling78]

I need help


Good afternoon. I stumbled upon this site as I randomly searched google for “Can I retire on XXX amount of money?” I think maybe quite a few of us started this way. At least I would like to assume I’m not the only one.



Here’s my backstory and why I’m here:
I’m a mid-40’s single person who does not have any debt, do not have any kids, live a lifestyle that costs me $100k/year comfortably and my military retirement benefits cover my health insurance. I sold my business last year and after I paid a ridiculous amount to Uncle Sam, I have $4.5 million left over from that transaction. For easy numbers, I collect $1k/mo in Military benefits. I use that number to account for actual take home mail box money and includes the health care premiums associated with the retirement. I have approximately $100k in a 401k but do not want to include that money in calculating if my retirement dream is viable.
I’m not the smartest person but I’ve worked my rear end off since 17. I left the military 5 years ago and started the company I recently sold. I was blessed to have had the team I have, the insane 5 year growth and that my hard work paid off. However, when it comes to financial planning, I know nothing or very little. I’m still working within the company I sold but my contract expires in 12 months and I have no intention of sticking around. Mainly because I want to see my team take the business to the next level without me there. It’s their time to take the reigns.
I sold the business because I had a feeling the US economy is headed in the wrong direction and I don’t see it coming back anytime soon. I had a fear that corporate taxes would go way up and a feeling VC money was very likely to dry up in 2022 and the years to follow. We had an amazing two years of business and profits and at the end of 2021 it seemed like the stars had aligned.
I ran this business without borrowing a dollar and never built credit. Meaning everything was paid for with cash in the business account. I never built any banking relationsihps. – Reason I mention this is to explain that what I have in the bank is what I have. My credit may be perfect but later in life if my direction changed, I can’t call upon banking relationships to borrow money for a new business.
Also, I do not care where I live in the World. I have nothing holding me back. Guess it’s worth saying, I own a home currently worth $500k free and clear and don’t care if I keep it. I’ve always thought about it as a safety net last ditch place to pull money from if I was in bad shape. Ideally, I would keep it to use as a home base but I don’t have any special affinity for it.

What I want: Flat out, I do not want to work anymore. I want to be free to find whoever I am, find some non-work creative juices and am really interested to see what kind of person I am when the stresses of running a business don’t rule my every minute. For me there is no in between. I can’t part time anything so…….if viable, I have to completely stop working.



What I don’t want: I do not want to invest in high risk, real estate (unless the market does what it did in 2008) or medium risk. The opportunity to get back into the real estate market if it crashes interests me but not until theres a huge downturn.

Essentially, I want to find a way to conserve the liquid cash I have so its available should I need it in 6month-1year. Needing it so if I discover a new business opportunity, I make a calculated decision and jump back in if I want to.

What I need: I need help!, ideas and direction. Specifically, what can I securely invest in that returns $100k-$150k annually and still maintain the original $4.5 million.
Assume I know nothing and that would be the truth.







The ask of the forum: Put yourself in my shoes with my wants and full consideration of my aversion to risk,,,,,,,, what would you do?






[FONT=&quot]Recap:[/FONT][FONT=&quot] [/FONT]$4.5m after taxes in the bank, no kids, no bills. I need to be able to spend 100-150k annually and maintain the original 4.5 nut.


Also, if anyone has any links to great calculators that compare investment options and their returns that are easy to use, that would be helpful too.
Thank you. Yes this is real. I am real. And yes, I am this lost.

 

[Pellice]

It's not good to be lost with $4.5 million . Easier to be lost with much less than that, as your paths forward are fewer. I shall commit the Prime Heresy of this site and advise having a talk with a financial advisor. You have a clear set of goals, enough money to accomplish them - and to accomplish them safely. A one-time visit with a fee-only advisor to get you started. Be as sceptical of this person as you wish, you will still see a number of options which your assets will allow. And you can continue to participate in this site, where there are a number of people giving good GENERAL financial advice. What you want is a document listing options that will allow you to compare and follow up on ideas you read here.

Edit: you may be inspired by some here to do some more work to manage your own money effectively. But you need a starting point unless you are simply going to turn your money into an age-bracketed mutual fund, which is probably an option also.

 

[travelover]

Welcome and congratulations. In short, you should have no problem retiring with $100K buying power for life. I don't see the logic for never depleting your principal $4.5M, especially with no kids. For most of us, the plan is simply to live well and never go broke.


Re risk, everyone wants a high return and low risk. It seems the two are inversely related, but there is a happy medium.

 

[pb4uski]

First, welcome to e-r.org, congratulations on your success to retire at such a young age and thank you for your service.

$150k annually divided by $4.5m is 3.3%. US Treasury rates are getting close to that level. Where is the $4.5m right now and is it invested and if so, in what? You say "in the bank"... literally? I would think that your banker would be falling all over himself suggesting to you how to invest the $4.5m. Do you have a brokerage account?

While we may not be there quite yet, if interest rates increase expected, it is very possible to invest the $4.5m in a ladder of US Treasuries that would be credit risk free and would pay enough interest to fund your $150k of spending annually.

I would keep the $4.5m short for now anticipating that rates will be increasing... perhaps a 3/6/9/12/15 month ladder with $1m in each rung and $500k in the 15 month rung. Then reassess in 6-12 months and perhaps end up with $2.25m in a 15 year Treasury ladder ($150k per rung) and the rest in longer TIPS (Treasury Inflation Protected Securities) which will keep pace with inflation.

 

[SevenUp]

What I need: I need help!, ideas and direction. Specifically, what can I securely invest in that returns $100k-$150k annually and still maintain the original $4.5 million.
Assume I know nothing and that would be the truth.

Congratulations on reaching where you are now!

Some reading to get you started on the next phase:
Some Important Questions to Answer Before Asking - Can I Retire? - Early Retirement & Financial Independence Community
Getting started - Bogleheads
Safe withdrawal rates - Bogleheads

Reading those might help answer some of your questions, and may prompt others. What do you think?

 

[Nords]

Welcome to the forum, Steve.

I understand your situation, and I’m dealing with the same issues. I’m retired military, my spouse and I have a similar wealth profile, and I know a lot of founders who’ve cashed out.

First, you’re fine. You’re financially independent on the numbers you’re shared. You can invest most of your $4.5M in passively-managed index funds with low expense ratios that return $150K/year (before taxes).

Now that we’ve answered the first financial question, let’s move on to some other considerations.

Next, I’d suggest that you make zero financial moves in the next couple of months. Take six months if you can stand it. Nothing good or bad will happen in the markets or the economy during the next six months that will make a substantial difference over the rest of your investing life. You have the time right now to figure out what you want to do all day and the time to figure out how you want to invest.

Third, before you talk with a financial advisor, I’d suggest that you do more financial reading. If you’re using words like “securely” and “liquid” then an advisor will interpret that code to put you into inappropriate products.

I’d suggest reading about asset allocation at the Bogleheads Wiki:
https://www.bogleheads.org/wiki/Asset_allocation

Since you’re already FI, your goal is to invest most of that $4.5M in passively-managed index funds with low expense ratios. Don’t get too focused on specific funds right now, because Vanguard, Fidelity, and Schwab all have similar funds. Instead read the Bogleheads discussion on asset allocation with a focus on investing for dividends that will cover your living expenses. You can put most of your money into a dividend index fund (an exchange-traded fund) like Vanguard’s High Dividend Yield or Dividend Appreciation ETFs.

While you’re reading, avoid the temptation to scour thousands of funds for the world’s best asset allocation. There are literally hundreds of acceptable combinations. Put away the calculators and don’t worry about that right now.

Instead your goal is to find an AA that lets you sleep comfortably at night (despite market volatility) and frees your mental bandwidth to spend the time on your lifestyle instead of on your money. This way you’ll stick to your AA throughout all market conditions and you’ll spend more time on living.

As you read about asset allocation, your other goal is to notice what words like “safe”, “liquid”, and “secure” mean to a financial advisor. It’s bleeding in shark-infested waters for annuities and whole life insurance, which you do not want or need. (The military pension has you covered.) What you want (without using those words) is an asset allocation to produce dividends which keep up with inflation while also growing the rest of the $4.5M with inflation.

Fourth, I’d suggest spending more time on deciding what you want to do all day. I recommend the book “Designing Your Life” and Ernie Zelinski’s Get-A-Life Tree:
https://www.amazon.com/Designing-Your-Life-Well-Lived-Joyful/dp/1101875321/
Note that, like starting a business, the life idea creates a minimum viable product and then iterates on it. The difference is that now you have about 40 years to try different approaches.
Here’s one of the original versions from Ernie:
Retirement Planning Wisdom That You Won't Get from Your Financial Advisor: The Get-a-Life Tree: A Great Retirement Planning Tool!
Do your homework with these resources. It takes thoughtful hours with pen & paper (or keyboard) to jot down inspirations and doodle a mindmap. Get comfortable with your ideas.

Fifth, in a month or two while you’re reading those three resources, I’d suggest putting a couple years of expenses ($300K?) in a money market, CDs, or a TIPS fund. They’re for you to spend during the next two years. Leave the other $4.2M sitting wherever while you work through the rest of your lifestyle and asset-allocation options and make an informed decision.

How much do you think you’d need to invest in a business? Whatever you choose, I’d wait two years so that you’re confident you’ve done at least one iteration on your FI lifestyle. If you have to spend more than $100K on an opportunity then personally I think you’re doing it wrong, but maybe after two years you’ll know what you’re seeking.

Sixth, keep asking questions here. If you don’t want to ask them in public then send me a PM or e-mail NordsNords at Gmail. I’ve been writing about this stuff for 20 years, I’m living it, and I’m gettin’ pretty good at it.

I can connect you with military vets who’ve actually cashed out for those big bucks. There are podcasts and blogs on the subject, and we have forums.

At some point you’re going to feel more comfortable about talking with a financial advisor. I can recommend some fee-only fiduciary CFPs who have worked with military vets and founders. One of them is a retired submariner, another a retired surface warrior, a third is a finance officer, and a fourth is… difficult to believe… a retired fighter pilot.

 

[SnowballCamper]

Between Nords and Pb4uski I think you've got nearly the two best answers you're going to get here (or anywhere). Welcome and Good Luck!

 

[SJhawkins]

Lots of good post already, will leave with this. You ran a biz, you know more about dollars than most.

Do no big $ moves for a few months and read a few books and ask questions. After that seek council or go about it on your own. For reading, read Bogleheads Guide to Investing and All about Asset Alocations by Rick Ferri in that order at a minimum. I read those 2 books a good 15 years ago and it was life changing, read a handful of other books too but those were just icing on the cake.

What I'm starting to realize now in my mid 50's, investment part is easy, getting a handle on what I want to do when I grow up is magnitudes tougher. Still like what I'm doing most days so I'm sure that is playing into it.

 

[pacergal]

welcome!
I have learned so much from this forum, with so many knowledgeable folks on this forum.
Nords and pb4uski are two folks to pay attention too.
Read up on the books, wiki's listed.

Many helpful people here, just ask.

 

[Rianne]

First, welcome to e-r.org, congratulations on your success to retire at such a young age and thank you for your service.

$150k annually divided by $4.5m is 3.3%. US Treasury rates are getting close to that level. Where is the $4.5m right now and is it invested and if so, in what? You say "in the bank"... literally? I would think that your banker would be falling all over himself suggesting to you how to invest the $4.5m. Do you have a brokerage account?

While we may not be there quite yet, if interest rates increase expected, it is very possible to invest the $4.5m in a ladder of US Treasuries that would be credit risk free and would pay enough interest to fund your $150k of spending annually.

I would keep the $4.5m short for now anticipating that rates will be increasing... perhaps a 3/6/9/12/15 month ladder with $1m in each rung and $500k in the 15 month rung. Then reassess in 6-12 months and perhaps end up with $2.25m in a 15 year Treasury ladder ($150k per rung) and the rest in longer TIPS (Treasury Inflation Protected Securities) which will keep pace with inflation.

^^That's what I'd do. Firecalc gave 100% success for 40 years spending 100K at 5% inflation with 0 growth.

 

[travelover]

^^That's what I'd do. Firecalc gave 100% success for 40 years spending 100K at 5% inflation with 0 growth.

I believe Firecalc assumes you spend down your principal. The OP never wants to touch the principal, so that is a consideration.

Specifically, what can I securely invest in that returns $100k-$150k annually and still maintain the original $4.5 million.

 

[southerndwelling78]

First, welcome to e-r.org, congratulations on your success to retire at such a young age and thank you for your service.

$150k annually divided by $4.5m is 3.3%. US Treasury rates are getting close to that level. Where is the $4.5m right now and is it invested and if so, in what? You say "in the bank"... literally? I would think that your banker would be falling all over himself suggesting to you how to invest the $4.5m. Do you have a brokerage account?

While we may not be there quite yet, if interest rates increase expected, it is very possible to invest the $4.5m in a ladder of US Treasuries that would be credit risk free and would pay enough interest to fund your $150k of spending annually.

I would keep the $4.5m short for now anticipating that rates will be increasing... perhaps a 3/6/9/12/15 month ladder with $1m in each rung and $500k in the 15 month rung. Then reassess in 6-12 months and perhaps end up with $2.25m in a 15 year Treasury ladder ($150k per rung) and the rest in longer TIPS (Treasury Inflation Protected Securities) which will keep pace with inflation.

pb4uski - Thank you. Yes, most everything is sitting in bank accounts. My intention was to invest in a 6-month CD to help offset my tax liability but all consuming work got in the way of that. Not a valid excuse but gives you an idea of how involved and educated I am in planning to be FI. I've always been blessed with success and manage my own money like I do my business. Where I'm so focused on making it or producing the work that the money just comes.



Question, Is there a simple tool I could use to calculate the returns on the ladder system you suggested? This seems like the easiest way to get the ball rolling.



As for my banker, they're non-existent or attention from them is. I'm ok with that. At least right now. I feel like I need to better understand my options before I invest time into meeting with people who profit from my earnings. If that makes sense.

 

[southerndwelling78]

Welcome to the forum, Steve.

I understand your situation, and I’m dealing with the same issues. I’m retired military, my spouse and I have a similar wealth profile, and I know a lot of founders who’ve cashed out.

First, you’re fine. You’re financially independent on the numbers you’re shared. You can invest most of your $4.5M in passively-managed index funds with low expense ratios that return $150K/year (before taxes).

Now that we’ve answered the first financial question, let’s move on to some other considerations.

Next, I’d suggest that you make zero financial moves in the next couple of months. Take six months if you can stand it. Nothing good or bad will happen in the markets or the economy during the next six months that will make a substantial difference over the rest of your investing life. You have the time right now to figure out what you want to do all day and the time to figure out how you want to invest.

Third, before you talk with a financial advisor, I’d suggest that you do more financial reading. If you’re using words like “securely” and “liquid” then an advisor will interpret that code to put you into inappropriate products.

I’d suggest reading about asset allocation at the Bogleheads Wiki:
https://www.bogleheads.org/wiki/Asset_allocation

Since you’re already FI, your goal is to invest most of that $4.5M in passively-managed index funds with low expense ratios. Don’t get too focused on specific funds right now, because Vanguard, Fidelity, and Schwab all have similar funds. Instead read the Bogleheads discussion on asset allocation with a focus on investing for dividends that will cover your living expenses. You can put most of your money into a dividend index fund (an exchange-traded fund) like Vanguard’s High Dividend Yield or Dividend Appreciation ETFs.

While you’re reading, avoid the temptation to scour thousands of funds for the world’s best asset allocation. There are literally hundreds of acceptable combinations. Put away the calculators and don’t worry about that right now.

Instead your goal is to find an AA that lets you sleep comfortably at night (despite market volatility) and frees your mental bandwidth to spend the time on your lifestyle instead of on your money. This way you’ll stick to your AA throughout all market conditions and you’ll spend more time on living.

As you read about asset allocation, your other goal is to notice what words like “safe”, “liquid”, and “secure” mean to a financial advisor. It’s bleeding in shark-infested waters for annuities and whole life insurance, which you do not want or need. (The military pension has you covered.) What you want (without using those words) is an asset allocation to produce dividends which keep up with inflation while also growing the rest of the $4.5M with inflation.

Fourth, I’d suggest spending more time on deciding what you want to do all day. I recommend the book “Designing Your Life” and Ernie Zelinski’s Get-A-Life Tree:
https://www.amazon.com/Designing-Your-Life-Well-Lived-Joyful/dp/1101875321/
Note that, like starting a business, the life idea creates a minimum viable product and then iterates on it. The difference is that now you have about 40 years to try different approaches.
Here’s one of the original versions from Ernie:
Retirement Planning Wisdom That You Won't Get from Your Financial Advisor: The Get-a-Life Tree: A Great Retirement Planning Tool!
Do your homework with these resources. It takes thoughtful hours with pen & paper (or keyboard) to jot down inspirations and doodle a mindmap. Get comfortable with your ideas.

Fifth, in a month or two while you’re reading those three resources, I’d suggest putting a couple years of expenses ($300K?) in a money market, CDs, or a TIPS fund. They’re for you to spend during the next two years. Leave the other $4.2M sitting wherever while you work through the rest of your lifestyle and asset-allocation options and make an informed decision.

How much do you think you’d need to invest in a business? Whatever you choose, I’d wait two years so that you’re confident you’ve done at least one iteration on your FI lifestyle. If you have to spend more than $100K on an opportunity then personally I think you’re doing it wrong, but maybe after two years you’ll know what you’re seeking.

Sixth, keep asking questions here. If you don’t want to ask them in public then send me a PM or e-mail NordsNords at Gmail. I’ve been writing about this stuff for 20 years, I’m living it, and I’m gettin’ pretty good at it.

I can connect you with military vets who’ve actually cashed out for those big bucks. There are podcasts and blogs on the subject, and we have forums.

At some point you’re going to feel more comfortable about talking with a financial advisor. I can recommend some fee-only fiduciary CFPs who have worked with military vets and founders. One of them is a retired submariner, another a retired surface warrior, a third is a finance officer, and a fourth is… difficult to believe… a retired fighter pilot.

NORDS!, You and pb4uski are amazing - Thank you so much. I didn't expect so many responses so quickly. Definitely didn't expect such an in depth response. I've made a new bookmark folder with all the links and books you suggested.



The biggest question you asked was: What do I plan to do with all my time. I don't think that will be an issue, at least for the first year.

I have a medium sized family farm in the Blue Ridge that's been neglected for a few decades that I want to spend 6 months working on. Specifically, I plan on building shipping container micro houses into the hillside. Think hobbit house. I've collected about 30 high boy 40' long boxes that are sitting on the property, each full of building materials. The view from the farm is amazing and my parents long time wish was to make it a glamping site. So I'm going to take the glamping idea and improve upon it with real self sufficient sub terrain houses. No plan what to do with them after that but figure if I build it, they will come. Also, that farm needs some mini longhorn bulls for yard art. The bulls are a dream but as far from reality as possible. I do not want to commit the rest of my life to feeding livestock.

The second part of my dream is to get back into surfing and spending a lot more time honing my slow ride longboard skills.
Third, I know the basics of sailing but want to learn how to sail for real. I would like to spend 6-months working as a deck hand and learning how to sail. Either park myself in Charleston, SC or St. Augustine, work for tips on charters and learn how to navigate
Fourth but may be too expensive - I want to learn how to fly. My dad was a Naval Aviator. I chose the men's department of the Navy and was the only child to go the Enlisted route. So, for so many years I was the blacksheep of the family. Funny how all those other officers in the family are no where near FI as I might be.



And the least of my interest, at least right now; is to get back into rental homes. Purchase, remodel, hold and rent. I did that for a number of years and had a lot of fun doing it. Right now that isn't feasible because I don't see home values staying where they're at now.



One quick question of many to come. Other than the submariner, are any of the other advisors in the SE US? I've never trusted anyone who chooses to live under the sea in a tin can packed nuts to butts. Obviously that's a joke after reading your profile.

And I don't mean to answer your questions with a question. You gave me so much information that I need some time to process. If you really are up for it, I would like to take you up on emailing you directly.



Thank you again.

 

[southerndwelling78]

Welcome and congratulations. In short, you should have no problem retiring with $100K buying power for life. I don't see the logic for never depleting your principal $4.5M, especially with no kids. For most of us, the plan is simply to live well and never go broke.


Re risk, everyone wants a high return and low risk. It seems the two are inversely related, but there is a happy medium.

Travelover - Without any kids, I'm not sure why I would want to pass away with my initial nut, it just seems like the right thing to do and I'm a little bit of a hoarder. I also plan to die with at least a million Hilton points and a similar amount in Delta miles.



Really though, I'm sure my fear of going broke will subside some in 15-20 years and at that point I'll be willing to deplete the nut.



Oh and maybe I'm planning to hold onto my nut in case an unknown kid comes knocking on my door and have to pay 18 years of back child support.
More realistically though, maybe I'll find a younger version of me that I want to help and pay their College tuition. Who knows.



Great point though. Thank you.

 

[Earl E Retyre]

If the $4.5m is literally in a bank, make sure you spread it across multiple banks since the FDIC insurance limit is $250k.

 

[pb4uski]

pb4uski - Thank you. Yes, most everything is sitting in bank accounts. My intention was to invest in a 6-month CD to help offset my tax liability but all consuming work got in the way of that. Not a valid excuse but gives you an idea of how involved and educated I am in planning to be FI. I've always been blessed with success and manage my own money like I do my business. Where I'm so focused on making it or producing the work that the money just comes.



Question, Is there a simple tool I could use to calculate the returns on the ladder system you suggested? This seems like the easiest way to get the ball rolling.



As for my banker, they're non-existent or attention from them is. I'm ok with that. At least right now. I feel like I need to better understand my options before I invest time into meeting with people who profit from my earnings. If that makes sense.

Schwab has a neat CD and UST laddering tool, but I think you need to be a customer to use it. I just did a quick and dirty 3/6/9/12/15/18 ladder as described above and the weighted average yield was 2.61% and the average maturity was 0.9 years. The yields for individual rungs were 2.12%, 2.45%, 2.76%, 2.92% and 3.05%, respectively.

At this writing USTs were preferable to CDs, which is good because then at the amounts that you would be buying you don need to worry about staying within FDIC limits, which would seem to be likely a problem with $4.5m in "the bank".

This would be a ultra safe way to start getting something and will have $1 million maturing every 3 months... at which point you can decide how to reinvest.

P.S. I'm perplexed that your banker/broker hasn't become your best friend... but when they inevitably do, whatever you do, do NOT buy an annuity.

 

[Out-to-Lunch]

Welcome aboard!

 

[Gumby]

... I've never trusted anyone who chooses to live under the sea in a tin can packed nuts to butts. .....

Untrustworthy as all get out, but we're a friendly bunch. Really friendly.

 

[Nords]

One quick question of many to come. Other than the submariner, are any of the other advisors in the SE US?

Redeployment Wealth Strategies is Paul Allen and Sean Gillespie in Chesapeake VA, but they work with clients all over the world.

It’s worse than you feared: Paul commissioned from the submarine ranks (former nuke ET) and retired from the Navy’s Intelligence community. He’s an Enrolled Agent tax expert (big surprise). Sean is a retired nuclear-trained Surface Warfare Officer and he either has his CFP hours this month or it’ll happen next month.

I know both of them well and I’ve met their staff paraplanners (all vets or military spouses). They work remotely across the country. Both Paul & Sean have been a huge help with my detailed estate-planning tax questions.

Brian O’Neill of Winged Wealth Management & Financial Planning is a retired F-35 Air Force pilot in Florida. I know him from financial conferences and Facebook groups, and he’s very good.

You can take a look at the rest of the MFAA group at:
Your Home Base for Genuine Financial Advice - Military Financial Advisors Association

If you’re seeking advice on the real estate (not that you need it), Rich Carey of RichOnMoney is in Montgomery and Stephen Baughier of CampFI is in Warner Robbins. (They’re not advisors but they’re military vets and financially independent from real estate.) Both of them have a large contact network if you feel strongly about working with an advisor in person instead of online, and both of them prefer fee-only advice-only fiduciaries. They’re good friends and I’ve spent a lot of time surfing (and attending financial conferences) with both of them.

And I don't mean to answer your questions with a question. You gave me so much information that I need some time to process. If you really are up for it, I would like to take you up on emailing you directly.

E-mail me anytime you have questions! It’s the easiest way to coordinate across time zones & travel plans.

(This is a standard open invitation to any member of E-R.org. The Military Guide was created here with the help of the long-time members.)


You have a lot on your plate right now, but as you work through everyone’s suggestions then you can add the Millionaire Interviews at ESIMoney.com, and Justin Nassiri’s Beyond The Uniform podcast.

These days I spend most of my forum time learning at Millionaire Money Mentors. It’s a paid forum (because millionaires) and I would only consider joining it after you work through the free stuff in this thread. I’ve done a Millionaire Interview at ESIMoney and I’m a frequent poster there so my membership is (currently) comped.

 

[Koolau]

I think the key is that you have plenty and lots of options. So relax. Learn. Eventually invest. Enjoy the next 50 years of retirement!

 

[retire to nature]

Welcome!
I am FIRE'd last year, and now I am mid 40's too. So FIRE in 40's makes it so nervous, and don't realize how much the nest is. I was like you and everybody said I would be alright.
As everybody says you would be fine, I can say the same thing. Today, I was thinking I may be 20 times happier than before I quitted the job. you seem like at that point too because you think you wouldnt want any job any more.
I was so anxious before FIRE like you, but I am pretty comfortable even this crazy stock down turn.
So you can relax.
I was planning to do like your first dream like farming and hobbit house, but I dont have any place to start it yet. So I am just doing backyard gardening in my city. So hope I can see your progress of your first dream part.
Also, I have found who I am ongoing too and enjoy that so much too.
Welcome again!

 

[ncbill]

If the $4.5m is literally in a bank, make sure you spread it across multiple banks since the FDIC insurance limit is $250k.

NO, there is no need to do the above!

Just pick a participating bank from here:

https://www.intrafinetworkdeposits.com/how-it-works/