3 Million - Cash and Stock!

[Months.in.Wyoming]

Sorry - meant to put this in the Milestone thread!! Not a frequent user... so i've put it there too. So November bonus is going to put us over $3M in Cash and Investments for first time ever. This doesn't include non-residential land owned outright, nor our house owned outright... nor does it include business ownership. Total of all that is roughly $6M. But, the $3M is very real and accessible so making us smile. The thing is as stated several places on this forum is that it really starts taking hold later in life. I'm 56 and still working... It's just slow and steady, and then you really start seeing compounding after that first 1M - hard to detect until then was my experience. Good Luck to all you youngsters!!

 

[Dtail]

Perhaps consider retiring.

 

[Ronstar]

Unless you enjoy your job more than your free time, start your retirement transition by putting your business and non-residential property up for sale.

It could take a business owner a while to retire. Don’t be caught still working and owning a business when the time comes that you really don’t want to work any more.

 

[Spanky]

Sorry - meant to put this in the Milestone thread!! Not a frequent user... so i've put it there too. So November bonus is going to put us over $3M in Cash and Investments for first time ever. This doesn't include non-residential land owned outright, nor our house owned outright... nor does it include business ownership. Total of all that is roughly $6M. But, the $3M is very real and accessible so making us smile. The thing is as stated several places on this forum is that it really starts taking hold later in life. I'm 56 and still working... It's just slow and steady, and then you really start seeing compounding after that first 1M - hard to detect until then was my experience. Good Luck to all you youngsters!!

Congrats! What's the next milestone, if any? What's your goal in terms of financial assets? What's the planned ER date?

 

[Months.in.Wyoming]

regarding selling business and What's Next...

I have a minority interest in the business - I'm in the C-suite and it's a large business, so no worries on company viability and no worries the formal buy-sell being executed. It'll provide 2M minimum after tax over my choice of four or five years. Then our home is 1M+, and our non-residential is 350k. Sooo - property tax is high on our primary - might downsize. I think goal is work one more year FT, then go work from wherever I am at about 30 hours a week as that is possible to carve out - for maybe two years as I start selling company stock. Then on year three maybe go all the way - would be 58 or 59 at that time. Should then have 5.5-6.5M invested to support.... something... kids are out at that time, RV? Sail? Golf? Coach? Write? Need to get a plan. Definitely get into better shape (trying as best I can now).

 

[Finance Dave]

Congrats! Doing well and you already have a "sketch" of a plan...just need to flesh it out a bit. I did sort of what you did...I called it "rehiring"....went from 55 hours/week to 35 hours...did that for about 4 years, then to 20 hours for about 2 years, then FIREd. Was the perfect plan for me.