longranger
Recycles dryer sheets
Hi folks. I found this forum a month or two ago and it is now a major source of information and inspiration for me.
Little about me I am 57, DW 58. 2 kids in college almost done with enough 529 to cover remainder of expenses(barely). Have been a practicing physician for 28 years. Still enjoy what I do but am really burnt out by the increasingly megacorp, impersonal, IT dominated environment medical practice now has. Want to leave practice before I permanently look and feel like a used tube of toothpaste. LOL
Little bit about financials. Have 2M in retirement with 1.6 of that pretax. About 200,000 cash. AA is about 50/50 equities and securities. Only debt is a $900,000(ouch) mortgage on my home currently on the market. That when sold should conservatively yield $500,000 cash. Plan to downsize and rent after sale. Have other semi liquidated assets that would add an estimated 200,000 tax free to my nest egg.
Using firecalc I am surprisingly close to or at FI depending on how much padding I put on my yearly budget. That assumes house sold. One problem is no way could I take that option while continuing to live in Southern California. Probably will have to move to a much more tax friendly state which me and DW will gladly do when the time is right. That may be 5 years or more because of primary responsibility for parents. 3 out of 4 still alive healthy and sharp.
So my plans for the near future are pretty well set. Plan to work till at least 59.5. Will slightly accelerate my savings and cut some expenses but really do not live beyond means. Most importantly will continue to educate myself on this forum and other retirement resources. All the while I know that with a few lifestyle changes and a move I really could comfortably FIRE at any time if I lose my ability to smile . Really look forward to learning a lot from this exceptional forum.
Little about me I am 57, DW 58. 2 kids in college almost done with enough 529 to cover remainder of expenses(barely). Have been a practicing physician for 28 years. Still enjoy what I do but am really burnt out by the increasingly megacorp, impersonal, IT dominated environment medical practice now has. Want to leave practice before I permanently look and feel like a used tube of toothpaste. LOL
Little bit about financials. Have 2M in retirement with 1.6 of that pretax. About 200,000 cash. AA is about 50/50 equities and securities. Only debt is a $900,000(ouch) mortgage on my home currently on the market. That when sold should conservatively yield $500,000 cash. Plan to downsize and rent after sale. Have other semi liquidated assets that would add an estimated 200,000 tax free to my nest egg.
Using firecalc I am surprisingly close to or at FI depending on how much padding I put on my yearly budget. That assumes house sold. One problem is no way could I take that option while continuing to live in Southern California. Probably will have to move to a much more tax friendly state which me and DW will gladly do when the time is right. That may be 5 years or more because of primary responsibility for parents. 3 out of 4 still alive healthy and sharp.
So my plans for the near future are pretty well set. Plan to work till at least 59.5. Will slightly accelerate my savings and cut some expenses but really do not live beyond means. Most importantly will continue to educate myself on this forum and other retirement resources. All the while I know that with a few lifestyle changes and a move I really could comfortably FIRE at any time if I lose my ability to smile . Really look forward to learning a lot from this exceptional forum.