diehard1997
Recycles dryer sheets
- Joined
- Oct 20, 2012
- Messages
- 60
Hello Everyone,
I've been an avid reviewer of this board since last year it has helped me a great deal. I appreciate the time and energy given to these threads by some very intelligent individuals. I figured it was about time to introduce myself and share my story.
I am 38, DW (SAHM) is 40 and DD is 8. I sold my business a couple years ago and am currently working for the acquiring company. Work life now is much different now than it was previously and I have made the decision to separate in a few months. This is something I expected and have actually managed to stick around much longer than I initially expected.
I plan to slow things down a bit, potentially do some consulting (10-20 hours/week with current company and have already received approval for this type of engagement) and spend some “real” time with my family and friends. The last 18 years have consisted of very long hours and continuous stress. I was the ripe age of 22 when I started my business as I left college early to start my professional career.
Our assets consist of the following:
Checking/MM: 110K
Tax Advantaged (SIMPLE/TIRA/ROTH): 400K
Taxable: 3.2MM
College Funds
529: 32K (adding $250/month)
*In-state tuition paid via fully paid, state sponsored 529.
Our home is conservatively worth around 800K and we carry no mortgage.
I am 50% owner in a commercial office building which grosses me between 30K - 55K before tax per year (based on occupancy). There is no mortgage on this property and it was appraised at 1.5MM in 2010.
Other Assets of around 100K (cars, jewelry, etc.) and we have no outstanding debt aside from credit cards paid in full each month.
99% of investments are in Vanguard with an AA of 70/25/5 (stocks, bonds and cash).
From an expense standpoint we have been using Quicken since the late 90’s and track everything down the penny. We spend 57K/year w/o health care/dental or deferred expenses such as A/C replacements, roof, painting, vehicles, etc. which may ding us every 8-14 years. Adding in health care/dental of around 15K/year along with the deferred expenses brings expenses to around 83K/year plus taxes (We are both healthy with no pre-existing conditions so our HDHP premiums only run us $271/month on the private market right now for 10K max-out-pocket (Who knows what they’ll be in 2014 when the ACA kicks in!). My employer did not contribute much to HI so it made more sense to go private last year (our cost was almost $600/month). Our property taxes run around 10K/year so we will likely downsize in the next 8-10 years.
As with most folks on this board I am worried about health care, college and funding a potentially very long retirement. I have thought about all the potential gremlins out there and feel I have a sufficient enough financial buffer assuming I stick to the plan and don’t make any stupid investment moves. Firecalc says I can take out up to 120K/year with 100% success rate.
In personally analyzing my situation I assume my biggest issue will not be financial (hopefully!) but more related to fulfillment given an early exit of my
full-time career.
I would love any feedback, opinions or words of warning from minds much greater than mine.
Thanks!
diehard1997
I've been an avid reviewer of this board since last year it has helped me a great deal. I appreciate the time and energy given to these threads by some very intelligent individuals. I figured it was about time to introduce myself and share my story.
I am 38, DW (SAHM) is 40 and DD is 8. I sold my business a couple years ago and am currently working for the acquiring company. Work life now is much different now than it was previously and I have made the decision to separate in a few months. This is something I expected and have actually managed to stick around much longer than I initially expected.
I plan to slow things down a bit, potentially do some consulting (10-20 hours/week with current company and have already received approval for this type of engagement) and spend some “real” time with my family and friends. The last 18 years have consisted of very long hours and continuous stress. I was the ripe age of 22 when I started my business as I left college early to start my professional career.
Our assets consist of the following:
Checking/MM: 110K
Tax Advantaged (SIMPLE/TIRA/ROTH): 400K
Taxable: 3.2MM
College Funds
529: 32K (adding $250/month)
*In-state tuition paid via fully paid, state sponsored 529.
Our home is conservatively worth around 800K and we carry no mortgage.
I am 50% owner in a commercial office building which grosses me between 30K - 55K before tax per year (based on occupancy). There is no mortgage on this property and it was appraised at 1.5MM in 2010.
Other Assets of around 100K (cars, jewelry, etc.) and we have no outstanding debt aside from credit cards paid in full each month.
99% of investments are in Vanguard with an AA of 70/25/5 (stocks, bonds and cash).
From an expense standpoint we have been using Quicken since the late 90’s and track everything down the penny. We spend 57K/year w/o health care/dental or deferred expenses such as A/C replacements, roof, painting, vehicles, etc. which may ding us every 8-14 years. Adding in health care/dental of around 15K/year along with the deferred expenses brings expenses to around 83K/year plus taxes (We are both healthy with no pre-existing conditions so our HDHP premiums only run us $271/month on the private market right now for 10K max-out-pocket (Who knows what they’ll be in 2014 when the ACA kicks in!). My employer did not contribute much to HI so it made more sense to go private last year (our cost was almost $600/month). Our property taxes run around 10K/year so we will likely downsize in the next 8-10 years.
As with most folks on this board I am worried about health care, college and funding a potentially very long retirement. I have thought about all the potential gremlins out there and feel I have a sufficient enough financial buffer assuming I stick to the plan and don’t make any stupid investment moves. Firecalc says I can take out up to 120K/year with 100% success rate.
In personally analyzing my situation I assume my biggest issue will not be financial (hopefully!) but more related to fulfillment given an early exit of my
full-time career.
I would love any feedback, opinions or words of warning from minds much greater than mine.
Thanks!
diehard1997
