StJohnsWood
Recycles dryer sheets
- Joined
- Jan 8, 2008
- Messages
- 159
Hello, Long time lurker who is getting close. But I have to ask one question… Am I crazy??
I am 53 years old and going to put in my 3 week notice this Friday. After 25 years in Corporate America, I am done. I have had enough of this life! I plan to never have an updated resume again.
My Wife is 52 and is a stay at home Mom.
I currently make $125k a year and we save close to 45% each year. We are not big spenders on stuff.
I have a Son 16 and a Daughter 14. They are in High School Sophomore and Freshman.
Expenses:
We currently live in a Large Midwestern town with an inexpensive cost of living.
I have estimated our monthly expenses to be around $6500 a month.
Our house is worth $400k and we have a 30 year fixed rate mortgage at 3.625% with a balance of $225k
Mortgage / property taxes and insurance $2000
Healthcare insurance $2000
Remaining bills $2500
Cash Flow:
Dividends from common stock $3300 /month
Part Time Ebay Business $700 /month I would like to work on this more to get it around $2000/month. Seasonal as summers are not as strong as holidays.
Total inbound without job $4000/month.
So we have a $2500 to $3200/month short fall
Non Home Assets:
Net Worth $2.8m
IRA/401K $1.0m need to wait 6.5 years to touch any of this.
Stocks $1.73m accessible currently portfolio consist of 12 blue chip stocks and no mutual funds
Cash/Bonds $70k accessible currently
Separate from Net Worth are 529 plans for each kid’s college education.
Son $105k in Fidelity Mutual Funds
Daughter $95k in Fidelity Mutual Funds
As we get close to Friday the more nervous I get. Am I crazy. I have been a frugal saver my whole life. Now I am going to have to spend and I am not sure I can.
Has anyone else had this issue. How do you break through? Are we going to be ok? I have ran every calculator under the sun and our plans seem to work. What if the markets tank which I expect because we haven’t had a recession in a while?
Ugh I am not sleeping and making myself sick with worry. I have even mentioned the dreaded maybe one more year.
I am 53 years old and going to put in my 3 week notice this Friday. After 25 years in Corporate America, I am done. I have had enough of this life! I plan to never have an updated resume again.
My Wife is 52 and is a stay at home Mom.
I currently make $125k a year and we save close to 45% each year. We are not big spenders on stuff.
I have a Son 16 and a Daughter 14. They are in High School Sophomore and Freshman.
Expenses:
We currently live in a Large Midwestern town with an inexpensive cost of living.
I have estimated our monthly expenses to be around $6500 a month.
Our house is worth $400k and we have a 30 year fixed rate mortgage at 3.625% with a balance of $225k
Mortgage / property taxes and insurance $2000
Healthcare insurance $2000
Remaining bills $2500
Cash Flow:
Dividends from common stock $3300 /month
Part Time Ebay Business $700 /month I would like to work on this more to get it around $2000/month. Seasonal as summers are not as strong as holidays.
Total inbound without job $4000/month.
So we have a $2500 to $3200/month short fall
Non Home Assets:
Net Worth $2.8m
IRA/401K $1.0m need to wait 6.5 years to touch any of this.
Stocks $1.73m accessible currently portfolio consist of 12 blue chip stocks and no mutual funds
Cash/Bonds $70k accessible currently
Separate from Net Worth are 529 plans for each kid’s college education.
Son $105k in Fidelity Mutual Funds
Daughter $95k in Fidelity Mutual Funds
As we get close to Friday the more nervous I get. Am I crazy. I have been a frugal saver my whole life. Now I am going to have to spend and I am not sure I can.
Has anyone else had this issue. How do you break through? Are we going to be ok? I have ran every calculator under the sun and our plans seem to work. What if the markets tank which I expect because we haven’t had a recession in a while?
Ugh I am not sleeping and making myself sick with worry. I have even mentioned the dreaded maybe one more year.