I am moving this post from an incorrect forum.
I have been a lurker for years and this is my first post. I am 45 and single without kids. I read the FAQs before posting as well as numerous posts but haven't seen one that has a situation similar to mine, so here it goes:
Annual comp: $1.1M (all cash)
Non Tax Qualified: $3.1M ($800K cash, rest in brokerage (60/25/15 stock/bond/Alt Assets))
Tax Qualified (IRA, Simple IRA): $6.0M ($100K RMD per year currently)
Real Estate: two properties, each values about $850K ($90K mortgage left on one), no rental income
Annual Expenses: $160K to $180K (including HOA, property taxes and other fixed expenses, and excluding health care and long term insurance costs that will be relevant when ER begins)
All the calculators suggest that ER is an easy yes. The job is becoming a drag and with a 53% effective tax rate, there is not much incentive for me to keep going even though it's a lot of cash to give up. I am also not attached to the houses and the HCOL area I am living in right now (CA). In fact, I have relatives in Europe who will be more than happy to have me stay six months out of the year. I think I am ready to pull the trigger this year but not sure how in terms of AA after retirement and healthcare, etc. Any advice from the good folks here would be appreciated. I learned so much from this forum over the years and everyone's story has been the main driver for my crazy saving rate.... Thanks in advance.
I have been a lurker for years and this is my first post. I am 45 and single without kids. I read the FAQs before posting as well as numerous posts but haven't seen one that has a situation similar to mine, so here it goes:
Annual comp: $1.1M (all cash)
Non Tax Qualified: $3.1M ($800K cash, rest in brokerage (60/25/15 stock/bond/Alt Assets))
Tax Qualified (IRA, Simple IRA): $6.0M ($100K RMD per year currently)
Real Estate: two properties, each values about $850K ($90K mortgage left on one), no rental income
Annual Expenses: $160K to $180K (including HOA, property taxes and other fixed expenses, and excluding health care and long term insurance costs that will be relevant when ER begins)
All the calculators suggest that ER is an easy yes. The job is becoming a drag and with a 53% effective tax rate, there is not much incentive for me to keep going even though it's a lot of cash to give up. I am also not attached to the houses and the HCOL area I am living in right now (CA). In fact, I have relatives in Europe who will be more than happy to have me stay six months out of the year. I think I am ready to pull the trigger this year but not sure how in terms of AA after retirement and healthcare, etc. Any advice from the good folks here would be appreciated. I learned so much from this forum over the years and everyone's story has been the main driver for my crazy saving rate.... Thanks in advance.
