OK, I am 38 married to a 30 yr old woman that works.
No kids or plans for them.
House is bought this year for $650K with $130K down on 30 yr fixed at 6%
I own 45% of service business with a partner.
Business makes me about $150K-$200K per year Equity draws and salary)
Business Net's about $200K per year.
My partner would buy me out for approx $250K now (more as time goes by I would guess)
I have $170K saved in Money Mkt
Currently spend like I make about $50K/yr.
Wife makes $100K/yr.
Our finances are seperate and we split every bill.
I will save about $100K/yr on my current job.
No retirment or 401K
Mother 60 yrs old will will about $2million to me upon death.
How much longer do I need to work before I sell my half of the business to my partner and retire?
Wife will keep on working but since we split everything it doesn't have a huge impact on me either way.
OH, my job is a real bear and I would likely want to retire and work somewhere part time that would be fun but earn just a little $$ like a Park Ranger.
No kids or plans for them.
House is bought this year for $650K with $130K down on 30 yr fixed at 6%
I own 45% of service business with a partner.
Business makes me about $150K-$200K per year Equity draws and salary)
Business Net's about $200K per year.
My partner would buy me out for approx $250K now (more as time goes by I would guess)
I have $170K saved in Money Mkt
Currently spend like I make about $50K/yr.
Wife makes $100K/yr.
Our finances are seperate and we split every bill.
I will save about $100K/yr on my current job.
No retirment or 401K
Mother 60 yrs old will will about $2million to me upon death.
How much longer do I need to work before I sell my half of the business to my partner and retire?
Wife will keep on working but since we split everything it doesn't have a huge impact on me either way.
OH, my job is a real bear and I would likely want to retire and work somewhere part time that would be fun but earn just a little $$ like a Park Ranger.