Hello all, I need input from anyone who can help. Im 48, 3 kids and want to ER as soon as I can. As Mr Grealy elegantly puts it - working for someone else basically blows.
Will need about 75k/ yr. DW works and earns about $15k/ yr. Have 600k in IRA/ 401k and 400k taxable accounts, one rental property (NJ shore) with 500k equity and live in home with about 500k equity and 80k left on mortgage.
My question is, I know your not supposed to take into account your own home in the calculation, but what about rental property equity. I look at this as the final bucket/ long term investment and fell strongly it will appreciate at 3-4% a year long term even though I expect the next 5 years to be flat or down slightly.
So can my starting point be $1.5M, am I overlooking anything
Thanks all.
Will need about 75k/ yr. DW works and earns about $15k/ yr. Have 600k in IRA/ 401k and 400k taxable accounts, one rental property (NJ shore) with 500k equity and live in home with about 500k equity and 80k left on mortgage.
My question is, I know your not supposed to take into account your own home in the calculation, but what about rental property equity. I look at this as the final bucket/ long term investment and fell strongly it will appreciate at 3-4% a year long term even though I expect the next 5 years to be flat or down slightly.
So can my starting point be $1.5M, am I overlooking anything
Thanks all.
