Life_by_Fire
Dryer sheet aficionado
- Joined
- Apr 14, 2021
- Messages
- 35
Quick stats:
Age: Dw and She 32. 2 kids, 2.5 and 1.5
Current income: approx. 200k
So here's the thing. Both of us have always wanted to RE. Life events in last 2 years have made us want that to happen even sooner. Yes we are young but both have plenty of hobbies and side interests to take up time, some income making, that in RE we plan to increase.
So I've been thinking about realistically what do we need. Currently have about $1.5 million in accessible money. Majority is in a pre secure act inherited IRA (I have grown this substantially from what it was). The bulk of investments are in Pimco Stocks Plus (PSLDX). For us, this averages 100k in divedends/distributions with about 130k shares. This year dividends at $135k through 2 quarters.
Ok so we currently invest/save around $70k per year. I project expenses, including health insurance, in retirement to be around $115k if we live "large."
My thoughts are when we get to 200k shares, we are probably safe. Typical dividend/distribution for PSLDX in a year is $1/share. This is a change from my previous mindset focusing on achieving $5 million before RE. DW and I plan to do a couple income creating things but would love to stop the grind. I can't state how much I dislike my current career. My job leaves me feeling dirty everyday and changing paths has become very difficult due to changes in the field. I'll save that rant for later.
So after the long rant and mind vomit, what are people's thoughts on leaving the workforce once the investments start regularly producing around $150-200k in divedends/distributions? I know market and risky investments, but if I can cut the w*rk years down, I will do most anything.
Age: Dw and She 32. 2 kids, 2.5 and 1.5
Current income: approx. 200k
So here's the thing. Both of us have always wanted to RE. Life events in last 2 years have made us want that to happen even sooner. Yes we are young but both have plenty of hobbies and side interests to take up time, some income making, that in RE we plan to increase.
So I've been thinking about realistically what do we need. Currently have about $1.5 million in accessible money. Majority is in a pre secure act inherited IRA (I have grown this substantially from what it was). The bulk of investments are in Pimco Stocks Plus (PSLDX). For us, this averages 100k in divedends/distributions with about 130k shares. This year dividends at $135k through 2 quarters.
Ok so we currently invest/save around $70k per year. I project expenses, including health insurance, in retirement to be around $115k if we live "large."
My thoughts are when we get to 200k shares, we are probably safe. Typical dividend/distribution for PSLDX in a year is $1/share. This is a change from my previous mindset focusing on achieving $5 million before RE. DW and I plan to do a couple income creating things but would love to stop the grind. I can't state how much I dislike my current career. My job leaves me feeling dirty everyday and changing paths has become very difficult due to changes in the field. I'll save that rant for later.
So after the long rant and mind vomit, what are people's thoughts on leaving the workforce once the investments start regularly producing around $150-200k in divedends/distributions? I know market and risky investments, but if I can cut the w*rk years down, I will do most anything.