Hello,
Long time lurker here. I've enjoyed the forum over the years and have learned quite a bit from the members here. I figured it was probably about time I put myself out there and contribute something of value.
Married with a young daughter and wife. I'm 38 and my DW is 42. We live in Socal and would prefer to stay here if possible.
Current networth is $5.5 million. $5 million is in taxable accounts and 500k in tax deferred. Asset allocation of roughly 50 percent equities, 40 percent bonds and 10 percent cash.
Our current expenses are running around 15k a month. 7k of this is a combination of our rent and paying for our daughters private school.
My goal is to work another few years and get the taxable account bucket up near $6 million. At that point a 3.5 percent withdrawal rate on the taxable money should be enough to cover our annual expenses.
My biggest concerns are the cost of health insurance and having something major come up that's unexpected.
At this point I'm looking for any guidance on things I should be preparing for or thinking about in the next few years. Also, thoughts on a 3.5 percent withdrawal rate given our relative young age. Not sure if this is too aggressive.
I've got some ideas on hobbies/activities I will get involved with so I am not too worried about that aspect of things.
Thanks for your thoughts.
Long time lurker here. I've enjoyed the forum over the years and have learned quite a bit from the members here. I figured it was probably about time I put myself out there and contribute something of value.
Married with a young daughter and wife. I'm 38 and my DW is 42. We live in Socal and would prefer to stay here if possible.
Current networth is $5.5 million. $5 million is in taxable accounts and 500k in tax deferred. Asset allocation of roughly 50 percent equities, 40 percent bonds and 10 percent cash.
Our current expenses are running around 15k a month. 7k of this is a combination of our rent and paying for our daughters private school.
My goal is to work another few years and get the taxable account bucket up near $6 million. At that point a 3.5 percent withdrawal rate on the taxable money should be enough to cover our annual expenses.
My biggest concerns are the cost of health insurance and having something major come up that's unexpected.
At this point I'm looking for any guidance on things I should be preparing for or thinking about in the next few years. Also, thoughts on a 3.5 percent withdrawal rate given our relative young age. Not sure if this is too aggressive.
I've got some ideas on hobbies/activities I will get involved with so I am not too worried about that aspect of things.
Thanks for your thoughts.