Sarah in SC
Moderator Emeritus
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
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