An update...
Just wanted to make a follow-up post here, 2.5 years from my original post.
I am now 45 y.o. and DH is turning 46 next month. Our boys are now 10 y.o. and 7 y.o.
We currently have $801K in retirement - 401Ks (small percentage in Roth 401K)/IRAs/Roth IRA. We both max out 401K contributions.
Currently there is $62K total in the kids' 529 accounts.
We have about $60K in cash savings, some of which is earmarked for home repairs/updates.
House is paid off and worth $300K.
Still living below our means and paying with cash only. Had planned to save/invest more after paying off the house but life happened, esp with medical issues over the past couple of years. Just glad we were able to cash flow through those expenses.
My hope back in 2014 was that by the age of 45 y.o. that I would be able to semi-ER (while DH continues to work full-time) in order to spend more time with family, esp. with our boys getting older. I am happy to report that effective November 1st I am finally transitioning to part-time status. I say finally since that date has been postponed a couple of times at the request of management. Initially it was September 1, then October 1, and now November 1 (I have it in writing from HR). However, when I originally told management about my decision to go to part-time (back in May of this year) I said that I would stay on full-time for as long as needed to make it a smooth transition. Since then 3 more people have been hired and trained, and I think they are finally ready to cut the umbilical cord - LOL. Although I will have part-time hours (20-24 hrs a week over 3 days), I was asked to still have some oversight in this dept. which is still growing, so I will have to watch and make sure that this doesn't turn into full time work again. However, I truly do enjoy my work - I just prefer to do it in smaller doses.
We are fortunate that my compensation is very good, and I will be able to set my hours. Of course, I will have every Friday off. That will be a plus since DH works a 9/80 schedule and gets every other Friday off (although he may not think it's so great once I start coming up with my honey-do lists). Still trying to figure out which other day to take off. I am still deciding between taking off Mondays (giving me 4 days off in a row) or taking the other day off mid-week.
We plan to continue contributing to retirement as we have been. Now with the medical issues behind us we are looking again at taxable accounts and other places to put our extra income after monthly expenses.
Part of me is excited about semi-ER, and part of me almost doesn't want to believe it until it actually happens.
Just wanted to make a follow-up post here, 2.5 years from my original post.
I am now 45 y.o. and DH is turning 46 next month. Our boys are now 10 y.o. and 7 y.o.
We currently have $801K in retirement - 401Ks (small percentage in Roth 401K)/IRAs/Roth IRA. We both max out 401K contributions.
Currently there is $62K total in the kids' 529 accounts.
We have about $60K in cash savings, some of which is earmarked for home repairs/updates.
House is paid off and worth $300K.
Still living below our means and paying with cash only. Had planned to save/invest more after paying off the house but life happened, esp with medical issues over the past couple of years. Just glad we were able to cash flow through those expenses.
My hope back in 2014 was that by the age of 45 y.o. that I would be able to semi-ER (while DH continues to work full-time) in order to spend more time with family, esp. with our boys getting older. I am happy to report that effective November 1st I am finally transitioning to part-time status. I say finally since that date has been postponed a couple of times at the request of management. Initially it was September 1, then October 1, and now November 1 (I have it in writing from HR). However, when I originally told management about my decision to go to part-time (back in May of this year) I said that I would stay on full-time for as long as needed to make it a smooth transition. Since then 3 more people have been hired and trained, and I think they are finally ready to cut the umbilical cord - LOL. Although I will have part-time hours (20-24 hrs a week over 3 days), I was asked to still have some oversight in this dept. which is still growing, so I will have to watch and make sure that this doesn't turn into full time work again. However, I truly do enjoy my work - I just prefer to do it in smaller doses.
We are fortunate that my compensation is very good, and I will be able to set my hours. Of course, I will have every Friday off. That will be a plus since DH works a 9/80 schedule and gets every other Friday off (although he may not think it's so great once I start coming up with my honey-do lists). Still trying to figure out which other day to take off. I am still deciding between taking off Mondays (giving me 4 days off in a row) or taking the other day off mid-week.
We plan to continue contributing to retirement as we have been. Now with the medical issues behind us we are looking again at taxable accounts and other places to put our extra income after monthly expenses.
Part of me is excited about semi-ER, and part of me almost doesn't want to believe it until it actually happens.
