Hello
I have been subscribing to the philosophy of FIRE for a few years now. I'm am not ready to FIRE but I am hoping I am ready for at least switching to semi retirement. I hate Megacorp with a passion......it's too the point where it's making me sick just thinking about going to work everyday
Any suggestions on helping to improve my plan is greatly appreciated so that I can at least semi retire (working 3-6 months a year or a part time job).
I am debt free.....no mortgage, no car loans, no credit card debt, no student loans, no medical bills. I am completely debt free
My expenses are
Property Taxes - 1300 a year
Insurance (home and car) -1200 year (I live in a low cost of living rural area)
Food for just me - about 100.00 a month
Internet DSL -55.00
Utilites (trash, water, sewage) - 66.00
Electric (solar panels) - 25.00
Gas Heat - about 100.00 month only during the winter months.
My expense are about 500.00 per month. This includes all of the above expenses.
I have about 250K in savings and investments (stocks, bonds, Roth IRA and 401k).
The only unknown is health insurance. My goal is to work part time making enough to pay my bills because they are so low and the health insurance. 1500.00 a month is what I am shooting for. It could pay all my bills including health insurance plus give me extra to do the things I love doing while working only part time or 3 - 6 months a year doing IT consulting contracts. This way I won't have to touch my savings and will only use that for true emergencies like a car replacement or something like that.
It this a safe plan or do you think I need to work full time a little while longer to beef up my savings? I welcome all opinions. I have to get out of corporate america before it kills me but I am 54 and any financial mistakes I make now could mean I actually end working my entire life.
Any opinions will be greatly appreciated.
Thanks
Nanci
I have been subscribing to the philosophy of FIRE for a few years now. I'm am not ready to FIRE but I am hoping I am ready for at least switching to semi retirement. I hate Megacorp with a passion......it's too the point where it's making me sick just thinking about going to work everyday
Any suggestions on helping to improve my plan is greatly appreciated so that I can at least semi retire (working 3-6 months a year or a part time job).
I am debt free.....no mortgage, no car loans, no credit card debt, no student loans, no medical bills. I am completely debt free
My expenses are
Property Taxes - 1300 a year
Insurance (home and car) -1200 year (I live in a low cost of living rural area)
Food for just me - about 100.00 a month
Internet DSL -55.00
Utilites (trash, water, sewage) - 66.00
Electric (solar panels) - 25.00
Gas Heat - about 100.00 month only during the winter months.
My expense are about 500.00 per month. This includes all of the above expenses.
I have about 250K in savings and investments (stocks, bonds, Roth IRA and 401k).
The only unknown is health insurance. My goal is to work part time making enough to pay my bills because they are so low and the health insurance. 1500.00 a month is what I am shooting for. It could pay all my bills including health insurance plus give me extra to do the things I love doing while working only part time or 3 - 6 months a year doing IT consulting contracts. This way I won't have to touch my savings and will only use that for true emergencies like a car replacement or something like that.
It this a safe plan or do you think I need to work full time a little while longer to beef up my savings? I welcome all opinions. I have to get out of corporate america before it kills me but I am 54 and any financial mistakes I make now could mean I actually end working my entire life.
Any opinions will be greatly appreciated.
Thanks
Nanci