wingfooted
Recycles dryer sheets
After 20 years overseas assignment, looks like events are moving in my direction to FIRE in 2012.
Mid 50's, married,no kids. Worked overseas for Oil Service Co. - hardship assignments in not so nice hell holes with some personal danger. Own house in Houston plus Oregon farm of 160 acres - decent size but non commercial. Total real estate value of $1.1M all paid for, no mortgage. No other debt, credit cards are paid in full every month, six cars and four motorcycles all paid for between Texas and Oregon.
Current salary in the mid- $200's plus bonus. Wife is stay at home / doing her own thing. Made the first million in my 40's basically through overseas assignment differentials, low out of pocket cost, tax benefits and a good run of capital gains in the market although I suffered with most in 2008. Luckily missed the big real estate crash, the Houston house is modest and farmland remains in good demand. After the first million, the second and third come fairly quickly with any kind of investment success and continued savings.
Brokerage account of $1.2M , Roth IRA of $ 0.3M, other cash savings of $0.3M all after tax. The division I head up will be divested sometime this year and am looking at share of the sale valuation plus leaving benefits in the range of $0.6M after tax. Proceeds of all the lump sum distributions to transfer to the Brokerage account. Passionate about investing and stock market.
I could hang on with the new company if I wanted to but at this point it doesn't seem worth the bother unless the rewards are superb. Frankly I have other interest I want to pursue, feel burnt out and life in a foreign country is wearing on me.
No pension, social security to start at age 70. All the calculators say that I am financially prepared to ER.
The plan at this point is to sell the house in Texas, build in Oregon and transfer residency to Oregon in 2013 after all the lump sums are paid out (for state income tax reasons). I will gentleman farm, maybe run a part time business connected with farming and get back into some of the hobbies I have been unable to pursue these many years. Medical insurance to transfer to state pool after Cobra exhausts. Not sure how my wife will adjust to farm life (Green Acres scenario) and that is probably the biggest danger to the entire plan.
Worried about the state of the USA, welfare economy and what the future holds when we can no longer sell promises (bonds) to the Chinese. So feel that rural Oregon is a good place to hunker down for a future that may be quite different than today.
Mid 50's, married,no kids. Worked overseas for Oil Service Co. - hardship assignments in not so nice hell holes with some personal danger. Own house in Houston plus Oregon farm of 160 acres - decent size but non commercial. Total real estate value of $1.1M all paid for, no mortgage. No other debt, credit cards are paid in full every month, six cars and four motorcycles all paid for between Texas and Oregon.
Current salary in the mid- $200's plus bonus. Wife is stay at home / doing her own thing. Made the first million in my 40's basically through overseas assignment differentials, low out of pocket cost, tax benefits and a good run of capital gains in the market although I suffered with most in 2008. Luckily missed the big real estate crash, the Houston house is modest and farmland remains in good demand. After the first million, the second and third come fairly quickly with any kind of investment success and continued savings.
Brokerage account of $1.2M , Roth IRA of $ 0.3M, other cash savings of $0.3M all after tax. The division I head up will be divested sometime this year and am looking at share of the sale valuation plus leaving benefits in the range of $0.6M after tax. Proceeds of all the lump sum distributions to transfer to the Brokerage account. Passionate about investing and stock market.
I could hang on with the new company if I wanted to but at this point it doesn't seem worth the bother unless the rewards are superb. Frankly I have other interest I want to pursue, feel burnt out and life in a foreign country is wearing on me.
No pension, social security to start at age 70. All the calculators say that I am financially prepared to ER.
The plan at this point is to sell the house in Texas, build in Oregon and transfer residency to Oregon in 2013 after all the lump sums are paid out (for state income tax reasons). I will gentleman farm, maybe run a part time business connected with farming and get back into some of the hobbies I have been unable to pursue these many years. Medical insurance to transfer to state pool after Cobra exhausts. Not sure how my wife will adjust to farm life (Green Acres scenario) and that is probably the biggest danger to the entire plan.
Worried about the state of the USA, welfare economy and what the future holds when we can no longer sell promises (bonds) to the Chinese. So feel that rural Oregon is a good place to hunker down for a future that may be quite different than today.
