52 yo with another can I do it.

[Finance Dave]

I also have some good options for part time work. About 8 hours per week that pays well enough to make a difference but not too much of a difference to put me in a higher tax bracket.

That's what I've done. Although some would say I'm not "FIREd" lol. I do handyman work about 4-8 hours/week, and use the money for my hobbies.

Another thing to think about is how much of your spending is discretionary. Ours is about 50%. So if there is a market downturn, you just take one fewer vacations the following year or buy a Honda Pilot rather than a Lexus RX. LOL

 

[viking111]

That's what I've done. Although some would say I'm not "FIREd" lol. I do handyman work about 4-8 hours/week, and use the money for my hobbies.

Another thing to think about is how much of your spending is discretionary. Ours is about 50%. So if there is a market downturn, you just take one fewer vacations the following year or buy a Honda Pilot rather than a Lexus RX. LOL

That's true. A large part would be vacation, car payment. If I reduce that for a bad year then our WR will drop. The part time work would basically work out the same and then SS would do that.

 

[pb4uski]

I think perhaps if you have a large 401k it's worth it. If most of assets are in taxable, I'm not sure if it's worth it.

For most ERs, their biggest pot is tax-deferred.

 

[GTP2022]

Yes. Absolutely.

 

[Scratchy]

I see upstream you state you've accounted for health expenses in the $155k. I'm curious to know what health insurance coverage/costs you plan for.

 

[viking111]

I see upstream you state you've accounted for health expenses in the $155k. I'm curious to know what health insurance coverage/costs you plan for.

My wifes previous job gave her health insurance for the next couple of years.
After that I priced out healthcare on Healthcare.gov and put the cost into the budget including the deductible cost till 65 years old and then after that I adjusted for it after we are both on medicare.