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Old 09-03-2018, 09:02 AM   #41
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Bravo! Changing your own attitude is often one of life’s greatest challenges. And changing it for the better is a reason for jubilation. I hope your sabbatical is enjoyable and illuminating.
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Old 09-03-2018, 10:24 PM   #42
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Quote:
Originally Posted by LivePassionately View Post
I know this thread is old but My thinking has evolved thanks to this forum and doing some deep inner work so figured an update may help others.

1. My anxiety / fear of poverty is pretty much gone. This just took time, meditation/deep inner work, and really spending a lot of time thinking my life through for over a year. In fact, the opposite has happened - Money seems to have much less meaning in a life. This is a HUGE win for someone such as myself and it's very freeing.

2. I took care of key issues i was putting off. Will is done. Got some additional life insurance just in case as I had very little

3. I am comfortable investing in the market and not as afraid. Cash has gone from from 1+ million to about 400K (Some into stocks and a lot more into real estate).

4. Have been traveling like crazy and taking much longer trips and it feels a lot less rushed.

5. I will likely retire around 47 instead of 50/51 simply because I can and there is no need to keep doing. Doing a 2-month sabbatical soon and will see how that plays out and make a decision from there. Also had a heart to heart with the wife and she seems ready to call it quits by 50 and travel with me so that's a big win.
Thanks for the update, nice to hear the before/after. Lots of people on retirement forums lead very fulfilling and meaningful lives on 35-60k a year, any thought to reducing spending? My family of 5 is doing pretty well on 50k a year...I could walk away and never work again if I had your portfolio. Just a thought.
I do understand the irrational fear of not having money after coming from humble beginnings but while making alot of money. My wife and I both have this. In the past it has driven me to worry and work too much. In the last year however I have used it to gain control of my finances and develop a plan for now and the future so work isn't always a requirement....and that fear is almost gone now.
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Old 09-04-2018, 03:21 AM   #43
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Hey - I believe we can live on 50-60K a year but I don't think it will make sense with the amount of assets we'll have. Basically, I'm targeting $170-200k in pre-tax annual spending and the real estate net income will cover that. This will leave the stock accounts untouched.

We don't need crazy luxury but we are in a HCOL area and the plan is to downsize to a small home in the area due to friends/family but we will travel and live internationally at least 3-4 months out of the year so the $170-200k will really help us live the way we want. Again, if there are some issues and we need to cut to 50%, can easily live off $85-100K if needed.

Quote:
Originally Posted by Beer-man View Post
Thanks for the update, nice to hear the before/after. Lots of people on retirement forums lead very fulfilling and meaningful lives on 35-60k a year, any thought to reducing spending? My family of 5 is doing pretty well on 50k a year...I could walk away and never work again if I had your portfolio. Just a thought.
I do understand the irrational fear of not having money after coming from humble beginnings but while making alot of money. My wife and I both have this. In the past it has driven me to worry and work too much. In the last year however I have used it to gain control of my finances and develop a plan for now and the future so work isn't always a requirement....and that fear is almost gone now.
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Old 09-27-2018, 03:11 PM   #44
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Quote:
Originally Posted by LivePassionately View Post
Hey - I believe we can live on 50-60K a year but I don't think it will make sense with the amount of assets we'll have. Basically, I'm targeting $170-200k in pre-tax annual spending and the real estate net income will cover that. This will leave the stock accounts untouched.

We don't need crazy luxury but we are in a HCOL area and the plan is to downsize to a small home in the area due to friends/family but we will travel and live internationally at least 3-4 months out of the year so the $170-200k will really help us live the way we want. Again, if there are some issues and we need to cut to 50%, can easily live off $85-100K if needed.

EXPAT? Or do you just like international travel? Where is your top destination? I only ask because living in London or Dubai for three months is a lot different than living in Mexico City or Thailand.



What is your definition of crazy luxery? Mine is maid and butler, Bentley and Gulfstream, why not throw in a side of Wagyu beef.
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Old 02-15-2019, 12:16 PM   #45
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You're my age and have 6 times my assets and you're worried about retirement in 9 years.
Yet here I am worrying about retirement in 1 year... something is very wrong..
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Old 02-15-2019, 04:59 PM   #46
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Millions of dollars and scared to death. Sounds like Suzy Orman.
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Old 02-16-2019, 10:52 AM   #47
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Quote:
Originally Posted by LivePassionately View Post
I know this thread is old but My thinking has evolved thanks to this forum and doing some deep inner work so figured an update may help others.

1. My anxiety / fear of poverty is pretty much gone. This just took time, meditation/deep inner work, and really spending a lot of time thinking my life through for over a year. In fact, the opposite has happened - Money seems to have much less meaning in a life. This is a HUGE win for someone such as myself and it's very freeing.

2. I took care of key issues i was putting off. Will is done. Got some additional life insurance just in case as I had very little

3. I am comfortable investing in the market and not as afraid. Cash has gone from from 1+ million to about 400K (Some into stocks and a lot more into real estate).

4. Have been traveling like crazy and taking much longer trips and it feels a lot less rushed.

5. I will likely retire around 47 instead of 50/51 simply because I can and there is no need to keep doing. Doing a 2-month sabbatical soon and will see how that plays out and make a decision from there. Also had a heart to heart with the wife and she seems ready to call it quits by 50 and travel with me so that's a big win.
OP-- good for you to take the time to work through your issues. Glad you are more comfortable with your plans. Your Retirement will arrive sooner than you think! Enjoy your life!
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Old 02-16-2019, 11:06 AM   #48
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Give me a forum ...
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... Everything can go into the crapper in a heartbeat, (or, more to the point, the lack of one), and 'stuff' (a la George Carlin) isn't worth a damn and won't give you one more second on earth.
Just the cue I need to post one of my favorite gloomy songs that I have been guilty of sharing at least a dozen times over the years (and will continue to do so).

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Old 02-16-2019, 08:25 PM   #49
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OP-- good for you to take the time to work through your issues. Glad you are more comfortable with your plans. Your Retirement will arrive sooner than you think! Enjoy your life!
Agreed L-P, great for you. The people here and in your life who cannot understand your particulars and situation will...simply continue to not understand. They don't matter in the slightest. You've got this.
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Old 02-17-2019, 05:09 AM   #50
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OP, just read threw this thread. Saw that someone suggested for you a FA. Saw you also are investing now at VG. My suggestion is that you consider VG's Advisory Service. You appear to be someone who doesn't want to be really hands on with the investments and your DW is fully engaged being a physician. The other thing good about this is if something should happen to you, your assets are being managed. This will make it easier for your DW.

I have told my DW that as soon as I am no longer vertical she should contact our VG Flagship rep and let them handle the finances from there with help as required from our Enrolled Agent for tax matters.
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Old 02-17-2019, 06:37 AM   #51
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When I first read the original post (yesterday) I did not realize that it was 2 years old. As I thought about this thread through the course of the day I came to the conclusion that your (OP's)problem isn't a financial problem, it's a psychological problem.

To be "scared sh!tless" over a decision that is 9 years away, and that you don't really even have to make if you don't want to, is, well, nuts. My guess is that between the time of writing that post, and the time you actually decide to retire, your plan will be rewritten many times. You may well decide you need less money than you think you need, or you may need more money than you think you need, or that you may find some different formula for the "work-play" ratio, or BS bucket may get filled up sooner than you thought, or illness and injury make you see life differently.
This is a great time to ponder John Lennon's quote, "Life is what happens while you are busy making plans", or the old yiddish saying, "Man plans while God laughs"...

It's great to have a plan, but don't let your plans make you miserable with fear.

Subsequent posts from the OP make me think you've started to figure things out differently, and I hope, with more joy for what you've accomplished, what you are accomplishing, and less fear about trying to figure out today exactly what you will want in 7 years.

Good Luck!
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Old 02-17-2019, 10:12 AM   #52
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Originally Posted by LivePassionately View Post
@PLEX
I feel like I can just put the money into Vanguard funds and feel like I don't need an advisor for actual investments. I just wanted to ask about putting it all in at once or over time and peoples thoughts. I will reach out though to a consultation with a professional advisor and see what they think as it can't hurt.
I have the same problem as I accumulated money from bonuses and stock grants at work but was too busy or preoccupied to invest it. I also feel that the stock market is high but know that we can't really time the market. I'm spending time researching investments and I have invested some since I left my job. I'm investing it in chunks of about 2% of net worth at a time. I think that spreading it out over 6 months to a year is a good idea as that gives me time to research and see how the market goes and get comfortable with my decisions. It is difficult to find investments that have low fees, acceptable risk and good returns. I'm finding it hard to find fixed income investments that are worth owning. At this point rental property seems to offer the best returns.
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