52camellias
Confused about dryer sheets
- Joined
- Feb 17, 2018
- Messages
- 1
So this isn't really an early retirement so much as a move to a poverty-level income in five years, with a $300,000 to (possibly) $600,000 emergency fund. No kids, no husband, no pets, no cable, no life insurance, no debt. I had the house ownership experience. I'm over it.
Pros: Nobody on either side of my family has ever lived past 85, so I'm 99% sure of when I'll die.
I currently work in a very profitable niche and my skills are in great demand.
Living a low-carb lifestyle means I have to cook and stockpile meals.
Clothes, shoes and purse shopping are insanely boring to me. Along with pretty much all other kinds of shopping.
Eating in restaurants and traveling are mostly irritating to me.
In general, I'm just cheap.
Cons: I need good health insurance. As a co-worker said when I described all my various genetic ailments, "Your body is not your friend!"
I don't want to take SS. Yes, it's my money, but I consider it part of Plan Z.
I love to shop for jewelry. Online, conventions, garage sales -- you name it, I've been there. I have one of pretty much everything and I wear all of it.
I hate to cook, clean, shop for groceries, fix running toilets, do crafts or DIY pretty much anything. So, sue me, but I need an in-unit dishwasher and laundry appliances.
In 2018 I'll make too much to invest in a 401(k).
Mitigating factors: Poverty level income means poverty level taxes.
The jewelry hunt is a lot more fun than the purchasing, and I don't buy duplicates of anything I already have.
I have a minor interest in gardening and a major interest in reading, which takes care of the hobbies. Although Kindle can get kind of expensive.
It is possible that what I consider to be low-paying yet fun could become reasonably profitable. I am not counting on that.
Plan A is to train in my enjoyable career(s) for five years while socking away the cash from the niche job, and then move from hideously expensive California to (mostly) less expensive Maryland and live on my salary, using the 4% as needed for any traveling I feel like doing, emergencies, supplemental health care and (improbable but possible) assisted living.
Plan B through Y: I stay in the well-paying niche when I move to Maryland.
Plan Z: I take SS.
Currently, I am researching what to do when I can't tax-protect a big chunk of my salary. Right now I have $75,000 in index funds and $25,000 in bonds in an IRA and 401(k). The bonds are going to stay as-is for smoothing; future IRA purchases will be index funds. I am thinking of tax-free municipals and real-estate private lending. So that's the plan, unless I become an investment guru by reading all the posts (AOT, K) and discover other interesting forms of passive income.
Feel free to laugh at my brutally low retirement account or offer suggestions on how else I can invest my (sadly) post-tax income.
Pros: Nobody on either side of my family has ever lived past 85, so I'm 99% sure of when I'll die.
I currently work in a very profitable niche and my skills are in great demand.
Living a low-carb lifestyle means I have to cook and stockpile meals.
Clothes, shoes and purse shopping are insanely boring to me. Along with pretty much all other kinds of shopping.
Eating in restaurants and traveling are mostly irritating to me.
In general, I'm just cheap.
Cons: I need good health insurance. As a co-worker said when I described all my various genetic ailments, "Your body is not your friend!"
I don't want to take SS. Yes, it's my money, but I consider it part of Plan Z.
I love to shop for jewelry. Online, conventions, garage sales -- you name it, I've been there. I have one of pretty much everything and I wear all of it.
I hate to cook, clean, shop for groceries, fix running toilets, do crafts or DIY pretty much anything. So, sue me, but I need an in-unit dishwasher and laundry appliances.
In 2018 I'll make too much to invest in a 401(k).
Mitigating factors: Poverty level income means poverty level taxes.
The jewelry hunt is a lot more fun than the purchasing, and I don't buy duplicates of anything I already have.
I have a minor interest in gardening and a major interest in reading, which takes care of the hobbies. Although Kindle can get kind of expensive.
It is possible that what I consider to be low-paying yet fun could become reasonably profitable. I am not counting on that.
Plan A is to train in my enjoyable career(s) for five years while socking away the cash from the niche job, and then move from hideously expensive California to (mostly) less expensive Maryland and live on my salary, using the 4% as needed for any traveling I feel like doing, emergencies, supplemental health care and (improbable but possible) assisted living.
Plan B through Y: I stay in the well-paying niche when I move to Maryland.
Plan Z: I take SS.
Currently, I am researching what to do when I can't tax-protect a big chunk of my salary. Right now I have $75,000 in index funds and $25,000 in bonds in an IRA and 401(k). The bonds are going to stay as-is for smoothing; future IRA purchases will be index funds. I am thinking of tax-free municipals and real-estate private lending. So that's the plan, unless I become an investment guru by reading all the posts (AOT, K) and discover other interesting forms of passive income.
Feel free to laugh at my brutally low retirement account or offer suggestions on how else I can invest my (sadly) post-tax income.