Hi All,
I've been reading posts on the site for a few weeks. Good stuff. I'd like some help if you're willing to provide it. The bottom line is I am questioning if my wife and I really can retire. Here are the stats:
We're both 42. No kids. I sold my company last year. My wife still works and carries health insurance. $4.8mm in liquid assets and $810k in home value. No debt. Taxes have been paid from gain on sale of business. Liquid assets are allocated as follows:
65% equity/45% bonds/cash. Equity is comprised of some MLP's, ETF's, tactical funds and single company stock. Bonds are muni's. Cash is about $300k.
Our total annual spend with ACA individual policy (including deductibles maxed out) would be about $135K pre-tax. We would have to pay our income/cap gain tax expense out of the $135k.
The only people I have consulted about this (aside from my wife) are those that stand to benefit financially from our relationship such as money managers, etc. I was looking for some un-biased opinions. On the surface it looks like it would work, but we have a long life ahead of us. It seems like a very long time. We worked hard and risked a lot to get here. We just don't want to screw it up.
Thanks in advance.
I've been reading posts on the site for a few weeks. Good stuff. I'd like some help if you're willing to provide it. The bottom line is I am questioning if my wife and I really can retire. Here are the stats:
We're both 42. No kids. I sold my company last year. My wife still works and carries health insurance. $4.8mm in liquid assets and $810k in home value. No debt. Taxes have been paid from gain on sale of business. Liquid assets are allocated as follows:
65% equity/45% bonds/cash. Equity is comprised of some MLP's, ETF's, tactical funds and single company stock. Bonds are muni's. Cash is about $300k.
Our total annual spend with ACA individual policy (including deductibles maxed out) would be about $135K pre-tax. We would have to pay our income/cap gain tax expense out of the $135k.
The only people I have consulted about this (aside from my wife) are those that stand to benefit financially from our relationship such as money managers, etc. I was looking for some un-biased opinions. On the surface it looks like it would work, but we have a long life ahead of us. It seems like a very long time. We worked hard and risked a lot to get here. We just don't want to screw it up.
Thanks in advance.