Hi All,
I have been planning toward retiring early for about 25 years now.
I am about to hit my 30th anniversary at ACME Melting and Squishing (my nickname for it). For many of those years i loved the company, but it has grown and unfortunately changed quite a lot, and i have no love for it at all anymore. It is still a good job, i make 90K, the boss is pretty decent fellow. If i did not have any money stashed away it would be a no brainer, just stay, but (DARN IT!) i do have a pretty good stash, so maybe i optimize my life a little differently than most?
So here is the money situation: I have $1.4 million in total liquid assets. $850K is in 401Ks, $480K is in an e-trade account, and i have about 85K in checking. No debts. No retirement benefits.
In years past i tended to be invested about 90% in stocks and 10% cash. Unfortunately a couple years go i became very uncomfortable and decided maybe i really could time the market, so i sold off the majority of it. Even worse, i stayed in cash ever since. So far it appears to be the biggest financial mistake of my life, and it did nothing for my stress.
Other stuff is unusually simple: Modest house and car paid off, never married, no kids, parents have passed...
I put together a crude budget. Not sure how realistic it is, but it is a start.
Monthly:
1200 pocket money (food entertainment, ocasional golf )
100 phone
100 internet
100 electric/gas
50 water
Annual:
6000 health ins
1500 Property tax
1500 house insurance
1000 car insurance
Roughly $30K - 35K a year might do?
What do you think? Can/should i convert my 30th anniversary into a retirement party?
I have been planning toward retiring early for about 25 years now.
I am about to hit my 30th anniversary at ACME Melting and Squishing (my nickname for it). For many of those years i loved the company, but it has grown and unfortunately changed quite a lot, and i have no love for it at all anymore. It is still a good job, i make 90K, the boss is pretty decent fellow. If i did not have any money stashed away it would be a no brainer, just stay, but (DARN IT!) i do have a pretty good stash, so maybe i optimize my life a little differently than most?
So here is the money situation: I have $1.4 million in total liquid assets. $850K is in 401Ks, $480K is in an e-trade account, and i have about 85K in checking. No debts. No retirement benefits.
In years past i tended to be invested about 90% in stocks and 10% cash. Unfortunately a couple years go i became very uncomfortable and decided maybe i really could time the market, so i sold off the majority of it. Even worse, i stayed in cash ever since. So far it appears to be the biggest financial mistake of my life, and it did nothing for my stress.
Other stuff is unusually simple: Modest house and car paid off, never married, no kids, parents have passed...
I put together a crude budget. Not sure how realistic it is, but it is a start.
Monthly:
1200 pocket money (food entertainment, ocasional golf )
100 phone
100 internet
100 electric/gas
50 water
Annual:
6000 health ins
1500 Property tax
1500 house insurance
1000 car insurance
Roughly $30K - 35K a year might do?
What do you think? Can/should i convert my 30th anniversary into a retirement party?