33 & Hoping to FIRE in 3 Years

[TickTock]

How many here had a NW of $1M and owned their home outright at age 30?

Certainly not me! At age 35 for me, DW and I had <$200k in the portfolio and a house with a mortgage.

It's an impressive accomplishment, to be sure.

 

[dobig]

If you want a simple portfolio with guaranteed $20K/yr income try this -

Buy 267 shares of WFC L series Preferred stock that pays $75/share for $20,025 of qualified dividends each year and costs $308.4K at current prices. Put the remaining $191.6K in VOO for growth.

The Wells L series preferred is a "busted" preferred that cannot be called and will never be converted in your lifetime and yields around 6.5%. Wells Fargo has been in business for 174 years and will likely outlive you and your heirs and their heirs.

As you continue to save $110K/yr over the next three years you can dollar cost average into VOO for more growth knowing you have those preferred dividends that will be paid forever.

I like that idea.

Might split the WFCPRL with BACPRL just for a little diversity.