Hi All - I've been on the forum for some time reading a whole bunch of threads. It seems like a great site. I'm 46 and DW is 45. We have about $4.6mm liquid split 35% equity/65% bonds/cash/cd's. We also have about $850k in home equity. We have no debt. We have no children.
I sold my company a few years back (4) and we relocated about a year ago to a more prosperous economic environment for the opportunities available. What I've found is a very different environment for entrepreneurs since going back to work. Since trying to go back into business about a year ago there is much more regulation, cost and unrealistic banking expectations that limit what true opportunities actually are. It just seems to me it is very hard to get compensated appropriately for the risk you'd have to take given the current environment. In addition, there's way too much cash chasing very few true opportunities.
Our projected annual expenses over the next 10 years are about $95/k per year. Some years less and some years more. $95k is the average including inflation and large purchases such as cars and home maintenance dollars set aside for roof, furnace, etc. It also includes ins premiums. Any HSA/deductible contributions come from some part time stuff my wife and I do.
Given that our WD Rate is about 2% and the economic realities of the environment today, I'm starting to think that our life should take a different path. We earned that money busting our humps and taking risks and somehow it worked out. We lived frugally compared to our incomes and managed to put ourselves in a comfortable spot.
Would we be crazy to just go enjoy life and keep up with the part-time stuff realizing that we wouldn't be making large amounts of money going forward? Or would we be better off trying to break through a very thick wall of what we see as a new paradigm in American economics?
We love where we live now and don't see ourselves moving anytime soon - so no large costs involved with that.
Thanks so much in advance for any advice.
I sold my company a few years back (4) and we relocated about a year ago to a more prosperous economic environment for the opportunities available. What I've found is a very different environment for entrepreneurs since going back to work. Since trying to go back into business about a year ago there is much more regulation, cost and unrealistic banking expectations that limit what true opportunities actually are. It just seems to me it is very hard to get compensated appropriately for the risk you'd have to take given the current environment. In addition, there's way too much cash chasing very few true opportunities.
Our projected annual expenses over the next 10 years are about $95/k per year. Some years less and some years more. $95k is the average including inflation and large purchases such as cars and home maintenance dollars set aside for roof, furnace, etc. It also includes ins premiums. Any HSA/deductible contributions come from some part time stuff my wife and I do.
Given that our WD Rate is about 2% and the economic realities of the environment today, I'm starting to think that our life should take a different path. We earned that money busting our humps and taking risks and somehow it worked out. We lived frugally compared to our incomes and managed to put ourselves in a comfortable spot.
Would we be crazy to just go enjoy life and keep up with the part-time stuff realizing that we wouldn't be making large amounts of money going forward? Or would we be better off trying to break through a very thick wall of what we see as a new paradigm in American economics?
We love where we live now and don't see ourselves moving anytime soon - so no large costs involved with that.
Thanks so much in advance for any advice.