Hello all, I've been lurking here for a while, on and off.* Am an avid reader of retirement-related books for years and enjoy reading about the soon-to-be-RE as well as envious of the already RE.*
I am 34, husband is 42. Have $50k in retirement, no debt except mort of $50k to be pd off in 5 yrs, annual income of $116k, expenses of $36k yr.* Will max out 2 401(k)s in 2006 (just eligible) and Roths, plus remainder of savings in brokerage acct.* Needess to say, no kids.*
Perhaps of interest is that through my interest in retirement planning, I went to work for a CFP (no commission, of course) that does consultative wealth management and am now working on my CFP certification.* I'd like to use the CFP to go into business with another CFP candidate in my hometown when we finish the program (several years away).*
Two questions I'd like input from the sages...
I'd like to shoot for his retirement at 50-55, mine a little further out (age difference)--I've run most of the calculators and my real concern is how we'd need to use taxable dollars first.* I work for an extremely conservative 69 yr old planner who is an family friend and I trust his advise thus far, but he's no fan of early retirement, I assure you!* He's a "die with your boots on" kinda' guy.
Other question is that eventually I'd like for the business to evolve into a part-time sort of thing--where we each worked part of the year and took off part of the year.* Because a lot of financial planning is doing the original plan and then reviewing it 12 months later, I think this type of schedule would work if it was the right partner.* Is this a pipe dream?* We know of a boatyard where the two owners detested each other and each worked for a month at a time so they wouldn't have to see each other--and it actually worked pretty well!*
I'm not known for brevity, but there you go!* Thanks for any help hurled my way!* * *Sarah