Hello, I have just decided this weekend that 30 June 2014 will be my last day of work at my paid job. I choose the thread name because we plan to continue and increase our voluntary "work" through our church. I'm excited but wife is a bit apprehensive, however I've been reading this site for a while and have no doubt that it is the right time. So, after working pretty hard for over 38 years, including 21 in the Air Force, I get to take a little break
I'll be 57! My wife and I are both detail oriented and have always budgeted and so we know exactly what we currently spend, about 65K per year and that includes a small mortgage payment plus two new car payments, and all medical even after I quit. Only to say that we have some margin if needed. All of the calculators show I can generate between 92-100K per year with a 2.5-3% inflation factored in and I know my taxes will be 13-14% total even here in high-tax Maryland. So we will have 80-84K after tax income plus we also get about 10K from an informal rental arrangement for now. So glad to be able to join you all in this adventure. Oh and we've been blessed with my wife being a stay at home mom and volunteer serving others for the last 30+ years. Hobbies and activities include helping others less fortunate, bicycling, hiking, motorcycles and of course grand kids.