Exit 2024
Recycles dryer sheets
- Joined
- Jun 23, 2015
- Messages
- 426
Hello everyone!!!
I have been lurker here for quite some time and finally decided to register and introduce myself
We are family of 3 with child currently in college (3 more years to go).
Both husband and wife are age 46 and actively planning to exit workforce no later then July 2024 - age 55.
Finding this wonderful forum was a blessing for us - we finally think that we have the target and the plan
We are both employed by megacorp and make together about $250k.
We have records of all our spendings in Quicken going back to 1999 - so have pretty good idea what we really need.
Below is our details - hope to solicit some feedback
Spending plan - very rough numbers and represent worst case scenario by todays assesment
Living expenses including some travel - $50k/year (has some fluff included)
Healthcare for 2 - $20k/year (apprised at local exchange for age 55, added 30% inflation, no subsidy)
Taxes - $20k/year
Total - $90k (or less)
Net worth target - looking at $3mil (is that even realistic ? )
That will include RE that will be paid off - about $300k
Investable assets - $ 2.7mil or 30 x spending, WR ~3.3% (too conservative? )
We are in good health and have relatives living into their late 90s
Current state as of 7/31/2015
Equity in RE - $211k
Taxable - $32k
401(k)s - $385k
Roth IRAs - $133k
I-Bonds - $41k
HSAs - $61k
ESPP - $8k (we cash it out every 3 months)
Cash - $41k
Total - $912k
We are really hoping to join 2 comma club by end of the year, but that will require some market cooperation also
I plan to use this thread to post updates on our way to exit 2024 and ask questions as they will arise
Thanks for reading and looking forward to be part of this amazing community
I have been lurker here for quite some time and finally decided to register and introduce myself
We are family of 3 with child currently in college (3 more years to go).
Both husband and wife are age 46 and actively planning to exit workforce no later then July 2024 - age 55.
Finding this wonderful forum was a blessing for us - we finally think that we have the target and the plan
We are both employed by megacorp and make together about $250k.
We have records of all our spendings in Quicken going back to 1999 - so have pretty good idea what we really need.
Below is our details - hope to solicit some feedback
Spending plan - very rough numbers and represent worst case scenario by todays assesment
Living expenses including some travel - $50k/year (has some fluff included)
Healthcare for 2 - $20k/year (apprised at local exchange for age 55, added 30% inflation, no subsidy)
Taxes - $20k/year
Total - $90k (or less)
Net worth target - looking at $3mil (is that even realistic ? )
That will include RE that will be paid off - about $300k
Investable assets - $ 2.7mil or 30 x spending, WR ~3.3% (too conservative? )
We are in good health and have relatives living into their late 90s
Current state as of 7/31/2015
Equity in RE - $211k
Taxable - $32k
401(k)s - $385k
Roth IRAs - $133k
I-Bonds - $41k
HSAs - $61k
ESPP - $8k (we cash it out every 3 months)
Cash - $41k
Total - $912k
We are really hoping to join 2 comma club by end of the year, but that will require some market cooperation also
I plan to use this thread to post updates on our way to exit 2024 and ask questions as they will arise
Thanks for reading and looking forward to be part of this amazing community
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