SkeetShooter
Confused about dryer sheets
- Joined
- Mar 20, 2013
- Messages
- 7
Hi ER,
I've been lurking for about 3 months and have learned an incredible amount in that time. There are some smart cookies on this site and I appreciate the theory mixed with practical knowledge. There is no substitute for experience.
I caught the ER vision about 18 months ago after getting squeezed out in a corporate merger. They paid me well to leave, but it jarred my thinking about work, MegaCorp and what is important in life. Here's my situation and I would appreciate your thoughts on the best way to move forward.
Personal: I'm 43 and my wife is a 45 year old smokin' hot stay-at-home babe. Married for 21 years and I'm working to ensure that she doesn't trade me in for a younger model (she says "it's not the years, it's the mileage")
We have 3 wonderful children and a son (just kidding - all four are wonderful) ranging in age from 9 - 19. Oldest is in college. We anticipate that all of the kids will go to college and we will pay 80% of their total costs for an in-state school or a private religious college (total cost should be $15K-$20K per year per child). The kids understand this and are already saving.
Financial: So far, the main focus has been debt elimination (large student loan debt and a large house) and tax management. Now that debt has been eliminated, we are starting to focus on growth.
- No debt
- Home equity - $400K
- Emergency cash reserve - $50K
- 401K/IRAs - $550K (S&P Index Fund)
- Roth IRA - $60K (S&P Index Fund)
- 529s - $60K (Target dated mutual funds)
- Misc. Real Estate Investment - $25K
FireCalc: In order to get above an 85% likelihood, I need a portfolio of $2.0M.
I’d like to ER in 5 – 7 years (or less) - that means that I need to grow my investment assets by about $1.3M. We save approximately $60-100K per year, not including dividends, cash flow and interest from investments which are re-invested.
How are things looking? How best to grow the portfolio?
Any and all thoughts/critiques are welcome! Thanks!
I've been lurking for about 3 months and have learned an incredible amount in that time. There are some smart cookies on this site and I appreciate the theory mixed with practical knowledge. There is no substitute for experience.
I caught the ER vision about 18 months ago after getting squeezed out in a corporate merger. They paid me well to leave, but it jarred my thinking about work, MegaCorp and what is important in life. Here's my situation and I would appreciate your thoughts on the best way to move forward.
Personal: I'm 43 and my wife is a 45 year old smokin' hot stay-at-home babe. Married for 21 years and I'm working to ensure that she doesn't trade me in for a younger model (she says "it's not the years, it's the mileage")
We have 3 wonderful children and a son (just kidding - all four are wonderful) ranging in age from 9 - 19. Oldest is in college. We anticipate that all of the kids will go to college and we will pay 80% of their total costs for an in-state school or a private religious college (total cost should be $15K-$20K per year per child). The kids understand this and are already saving. Financial: So far, the main focus has been debt elimination (large student loan debt and a large house) and tax management. Now that debt has been eliminated, we are starting to focus on growth.
- No debt
- Home equity - $400K
- Emergency cash reserve - $50K
- 401K/IRAs - $550K (S&P Index Fund)
- Roth IRA - $60K (S&P Index Fund)
- 529s - $60K (Target dated mutual funds)
- Misc. Real Estate Investment - $25K
FireCalc: In order to get above an 85% likelihood, I need a portfolio of $2.0M.
I’d like to ER in 5 – 7 years (or less) - that means that I need to grow my investment assets by about $1.3M. We save approximately $60-100K per year, not including dividends, cash flow and interest from investments which are re-invested.
How are things looking? How best to grow the portfolio?
Any and all thoughts/critiques are welcome! Thanks!
