Hi, just discovered this forum. My wife and I are running out of steam after working very long hours for several years, and are looking for the light at the end of the tunnel. We've saved at a good rate all our working lives and we both keep maximizing our 401ks and non-deductible IRAs each year. The question: how soon do you estimate that we can we bail on the rat race?
Personal:
Me: 38, male, $200k/yr income
Wife: 40, female, $110/yr income
Home: Manhattan, NY
Spending: $120k/yr
Assets:
Tax-deferred (401k & IRA): $786k
Taxable: $345k
Home equity: $330k
No pensions
Allocation:
58% US Stocks
14% Foreign Stocks
7% REITS
16% Bonds
6% Cash
(all low-cost index funds)
Thank you!
Personal:
Me: 38, male, $200k/yr income
Wife: 40, female, $110/yr income
Home: Manhattan, NY
Spending: $120k/yr
Assets:
Tax-deferred (401k & IRA): $786k
Taxable: $345k
Home equity: $330k
No pensions
Allocation:
58% US Stocks
14% Foreign Stocks
7% REITS
16% Bonds
6% Cash
(all low-cost index funds)
Thank you!