Hi everyone. I'm a long-time lurker and first-time poster. About me:
- 40 years old
- married, 2 young children, wife does not work
- w*rk for megacorp, netting $7000/month
- paying extra towards mortgage, total $3000/month, will be paid off 12/19
- no other debt
- we live comfortably on the $4000/month remaining after paying mortgage
- $1.1 million in various retirement accounts, all in Vanguard, most in Vanguard Equity Income
Here are some of the things that I find myself daydreaming about:
1. after paying off mortgage in 12/19, possibly scaling back w*rk and reducing net income to $4000/month. This could be part-time w*rk at megacorp, or else finding something more enjoyable to do.
2. according to FIREcalc, I don't need to save another penny. 100% success rate with the following assumptions:
a. future retirement starting in 2036 (the year I turn 59.5)
b. $0 in contributions per year until then
c. $100k spending per year (which is about double current spending, not counting mortgage which will be paid off)
d. 40 years of retirement (I'll be 100 then)
3. I still need to figure out how to pay for college and health insurance if I end up quitting megacorp.
Anyway, I enjoy reading this forum and appreciate anyone's comments/advice on my current situation.
- 40 years old
- married, 2 young children, wife does not work
- w*rk for megacorp, netting $7000/month
- paying extra towards mortgage, total $3000/month, will be paid off 12/19
- no other debt
- we live comfortably on the $4000/month remaining after paying mortgage
- $1.1 million in various retirement accounts, all in Vanguard, most in Vanguard Equity Income
Here are some of the things that I find myself daydreaming about:
1. after paying off mortgage in 12/19, possibly scaling back w*rk and reducing net income to $4000/month. This could be part-time w*rk at megacorp, or else finding something more enjoyable to do.
2. according to FIREcalc, I don't need to save another penny. 100% success rate with the following assumptions:
a. future retirement starting in 2036 (the year I turn 59.5)
b. $0 in contributions per year until then
c. $100k spending per year (which is about double current spending, not counting mortgage which will be paid off)
d. 40 years of retirement (I'll be 100 then)
3. I still need to figure out how to pay for college and health insurance if I end up quitting megacorp.
Anyway, I enjoy reading this forum and appreciate anyone's comments/advice on my current situation.