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La Selva 12-27-2007 04:09 PM

Hi! 44 And Hoping To Get Out Soon
 
I'm single with no kids. I've been working since age 13 doing one thing or another and I'm ready to take a break either for a few years or forever. I need a change from my current career and I'm fortunate that I have time to find something I like. Or, maybe I don't have to work any more at all.

I plan to sell my interest in my partnership at the end of this year. I plan to sell my house before the end of the year and move to a less costly location -- either in the USA or Australia. I'm near the SF/Bay Area right now.

I have $300k in my 401k. I have about $450k in equity in my home. I have $70k in mutual funds and another $200k-$250k in cash.

I've tried to use FIREcalc, but I can't get the bloody page to load. I've made an attempt to try to figure out what I'm doing wrong, but I've had no luck.

If you have any comments, questions or advice to share, I'm all ears. I'd especially appreciate some help in getting the FIREcalc to work for me.

RetireeRobert 12-27-2007 07:20 PM

Quote:

Originally Posted by La Selva (Post 593696)
I'm single with no kids. I've been working since age 13 doing one thing or another and I'm ready to take a break either for a few years or forever. I need a change from my current career and I'm fortunate that I have time to find something I like. Or, maybe I don't have to work any more at all.

I plan to sell my interest in my partnership at the end of this year. I plan to sell my house before the end of the year and move to a less costly location -- either in the USA or Australia. I'm near the SF/Bay Area right now.

I have $300k in my 401k. I have about $450k in equity in my home. I have $70k in mutual funds and another $200k-$250k in cash.

I've tried to use FIREcalc, but I can't get the bloody page to load. I've made an attempt to try to figure out what I'm doing wrong, but I've had no luck.

If you have any comments, questions or advice to share, I'm all ears. I'd especially appreciate some help in getting the FIREcalc to work for me.

Welcome. I'm sure someone with tech smarts will be along to help with the FIRECALC troubles.

As to your general financial situation, you have been working 31 years! I would agree "YES", it might be time to try something new--something like maybe no more w*rking! :D or taking a break before trying something new, maybe even part-time.

So you will have about $600k cask/investments and the $450k house equity. You did not mention the value of selling out of the partnership.
If you move to a lower cost area and can pay cash for home of $250, then you will have $800k pot plus whatever your partneship sale yields to fund retirement.

At an SWR of 4%, that $800k retirement pot gives you $32k annual income inflation adjusted. And you will have a paid up residence.

Questions you need to ask yourself:
1) what kind of annual income do you need to live comfortably?
2) what about health insurance and/or HSA?
3) will you qualify for Social Security?
4) Will the sale of partnership be enough to provide an emergency fund for unexpected expenses--medical, home repair, cars, etc?

Depending on #1's answer, you may be ready to forget w*rk forever--or not. ?

La Selva 01-02-2008 06:40 PM

Quote:

Originally Posted by RetireeRobert (Post 593762)
At an SWR of 4%, that $800k retirement pot gives you $32k annual income inflation adjusted. And you will have a paid up residence.

Questions you need to ask yourself:
1) what kind of annual income do you need to live comfortably?
2) what about health insurance and/or HSA?
3) will you qualify for Social Security?
4) Will the sale of partnership be enough to provide an emergency fund for unexpected expenses--medical, home repair, cars, etc?

Depending on #1's answer, you may be ready to forget w*rk forever--or not. ?

Thanks. That's helpful. There's hope. Or maybe I'll work a little, which I can handle.

I still cannot figure out why FIREcalc does not load for me. Off to the FIREcalc support section.:rant:


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