xswzaq
Dryer sheet wannabe
OK here goes....Please help me!!!!
I really want to quit and here is what I have accumulated:
260K: Cash
484K: Buy and Fix Real Estate (Could be converted to rental)
106K: TSP
17K: Roth IRA
8K: Personal Property
875K: Total
I really hate my Government Job...Maybe I shouldn't given today's economic climate. But I do... I am a matter of fact, hard working individual, well rounded, easy going (when not working)
Can I quit?....that is what I keep asking myself.
For the last 4 years I have consistently lived on approx 36K a year without really trying. I think I could live on less. 4% of the above total assets is 35K.
I am very healthy from eating well and exercising (long distance runner) or better than that having two parents that seem as healthy as I at 77 an 72 years of age. I am hoping that maybe I don't need the government subsidized health care.
If I quit and keep with current spending it would be:
36K living expenses
2K High deductible health insurance ( I have to pay for this now)
10K estimated income taxes
===============
48K needed
but 4% of nest egg equals 35K
So I am thinking I need to come up with another 13K if I am not capable of cutting back on expenditures.
But then there is my real estate endeavors.
I own 484K of real estate now. All current Real Estate investments are positive BTW. However I have already realized 100K in loses from previous years. Well they haven't completely been realized. They have been sold and I have 100K of capital loss on the books with the IRS which will make the next 100K future gains tax free.
Also I have been growing real estate assets at a rate of 18% per year for the last 7 years with all that has gone on. I have done well in all of the last 7 years except 2005 and 2006. 2005 and 2006 I lost money because I was stupid and went with the herd. Overall return on real estate endeavors averages out to be 18% after taxes.
I could go on and on with the details but maybe I will quit here.
Summarize------->
I hate my Job
It pays well at 92K
I would rather work for myself.
I am thinking it is time to quit accumulating.
I want to be happy.
I am happiest when I don't have to deal with inefficient Bureaucracies every working day.
It brings me down.
I hate bullshitters. What I find with the Government is Bullshitters and hard working stiffs that are being exploited. Maybe it is like that in any large group of people. This is why I want to work for myself......full time. I know only one employer will really take care of me and I see him in the mirror every morning.
I am 47 years old and my peers are all hanging on to 56 to get Health care subsidy for life and SS supplement from 56 to 62 and less chance of annuity being destroyed by inflation. I think the social security supplement may be a moot point since I never intend to quit working. It is healthy to work...why should I quit working entirely. Well when I get to point that I can't maybe.
I want to be free.
Can I be free
Do I have enough to quit working for Uncle Sam.
I don't need much....I am a simple guy....I would like to travel some though.
Help.....................................?
What do you think
I really want to quit and here is what I have accumulated:
260K: Cash
484K: Buy and Fix Real Estate (Could be converted to rental)
106K: TSP
17K: Roth IRA
8K: Personal Property
875K: Total
I really hate my Government Job...Maybe I shouldn't given today's economic climate. But I do... I am a matter of fact, hard working individual, well rounded, easy going (when not working)
Can I quit?....that is what I keep asking myself.
For the last 4 years I have consistently lived on approx 36K a year without really trying. I think I could live on less. 4% of the above total assets is 35K.
I am very healthy from eating well and exercising (long distance runner) or better than that having two parents that seem as healthy as I at 77 an 72 years of age. I am hoping that maybe I don't need the government subsidized health care.
If I quit and keep with current spending it would be:
36K living expenses
2K High deductible health insurance ( I have to pay for this now)
10K estimated income taxes
===============
48K needed
but 4% of nest egg equals 35K
So I am thinking I need to come up with another 13K if I am not capable of cutting back on expenditures.
But then there is my real estate endeavors.
I own 484K of real estate now. All current Real Estate investments are positive BTW. However I have already realized 100K in loses from previous years. Well they haven't completely been realized. They have been sold and I have 100K of capital loss on the books with the IRS which will make the next 100K future gains tax free.
Also I have been growing real estate assets at a rate of 18% per year for the last 7 years with all that has gone on. I have done well in all of the last 7 years except 2005 and 2006. 2005 and 2006 I lost money because I was stupid and went with the herd. Overall return on real estate endeavors averages out to be 18% after taxes.
I could go on and on with the details but maybe I will quit here.
Summarize------->
I hate my Job
It pays well at 92K
I would rather work for myself.
I am thinking it is time to quit accumulating.
I want to be happy.
I am happiest when I don't have to deal with inefficient Bureaucracies every working day.
It brings me down.
I hate bullshitters. What I find with the Government is Bullshitters and hard working stiffs that are being exploited. Maybe it is like that in any large group of people. This is why I want to work for myself......full time. I know only one employer will really take care of me and I see him in the mirror every morning.
I am 47 years old and my peers are all hanging on to 56 to get Health care subsidy for life and SS supplement from 56 to 62 and less chance of annuity being destroyed by inflation. I think the social security supplement may be a moot point since I never intend to quit working. It is healthy to work...why should I quit working entirely. Well when I get to point that I can't maybe.
I want to be free.
Can I be free
Do I have enough to quit working for Uncle Sam.
I don't need much....I am a simple guy....I would like to travel some though.
Help.....................................?
What do you think