Retiring some day...perhaps soon...
Then again maybe I am already retired, in that I don't know what I would do different if I were retired.
Background.. 51 years old.
Former MegaOil Employee, worked round the world in oil and gas projects.
I left corp life and went independent in 1999. Since then, small projects, mostly grocery money, and a few days at the plate, repeated swings but mostly foul balls.
Have been developing or participating in projects for 10 years or so. DW started back to work out of home in cross cultural training. Has the health insurance that I enjoy, but do not have on my own.
Recently a project delivered with management incentive of roughly $2 MM. Hits all as income, so a big check to the IRS. Continue to work for that independent with nice salary and minor carried interest in deals but of very high risk.
No pension. IRA's and 401K's at roughly $1 MM (Nov. 08) broadly invested in ETF's domestic and international stocks, including emerging markets 50d/30i/20em. After tax savings will increase to roughly $1.8 MM by spring with payment of remaining incentive and sale of primary (larger family raising house in the spring). These funds are currently in $$ either CD's, money market, or pending payments or home sale proceeds.
Curious what advice I might receive for investing the $1.8 MM between now and June 2009+.
Moving full time to small house in the hill country of Texas, no mortgage and carry cost estimated at $400/month taxes and utilities.
Two kids in college but hopefully off the payroll in two to three years.
Thinking it would be good to continue converting time into income with wife working out of the house and myself working with my friends at the independent while kids remain in college.
Wife and I love to ride our Yahama cruisers in the hill country checking out some of the best barbeque in Texas and therefore the nation.
If we take time off we would likely travel both domestically on motorcyles and internationally as lowly vagabonds.
Without really having settled into a sustainable lifestyle, we estimate that we could get along well with 80-100K income, our main concern being health insurance.
I enjoy reading your forum and think that it provides a great deal of real information. I would appreciate any thoughts you might offer a fellow travelor and perhaps reluctant retiree...