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DW and I are both 50, and our plan was to be fired in 7 years when our youngest DS finish college. Recently, looking at our numbers, I think we can do it in 3 years. And some of the times, I am tire of the job demands, just want to be fired now. A couple questions:
1. Will you delay your RE dates to help your children grad. school cost? I already told all of them that they are on their own if they want to continue after 4 years but in the back of my mind, I kind of want to scarify and work a few more years while we have pretty decent earnings.
2. I have 500K in previous employer 401K account, any advantage/disadvantage to move it to a Vanguard IRA?
Some of our details:
- 4 kids, 1 will starts grad school this year. 1 graduates (4 yrs) next month and plan to go to grad school in 2 yrs. 1 is Freshmen in and 1 is a Soph in HS.
- Combined Salary: $220K
- Combined 401K: $1.15M 50/50 (is it too conservative?)
- Rentals Equity: $1.2 M (per Zillow) yields $55K annual net income
- Small non COLA pension: 12K annually starts at 55
- Primary home equity: 600K. plan to pay off when RE or sell and move back to one of the rental.
- After tax accounts: 400K in cash/saving accounts
- College accounts for the 2 youngers are 75% funded
- Current annual expenses $98K
Thanks
DW and I are both 50, and our plan was to be fired in 7 years when our youngest DS finish college. Recently, looking at our numbers, I think we can do it in 3 years. And some of the times, I am tire of the job demands, just want to be fired now. A couple questions:
1. Will you delay your RE dates to help your children grad. school cost? I already told all of them that they are on their own if they want to continue after 4 years but in the back of my mind, I kind of want to scarify and work a few more years while we have pretty decent earnings.
2. I have 500K in previous employer 401K account, any advantage/disadvantage to move it to a Vanguard IRA?
Some of our details:
- 4 kids, 1 will starts grad school this year. 1 graduates (4 yrs) next month and plan to go to grad school in 2 yrs. 1 is Freshmen in and 1 is a Soph in HS.
- Combined Salary: $220K
- Combined 401K: $1.15M 50/50 (is it too conservative?)
- Rentals Equity: $1.2 M (per Zillow) yields $55K annual net income
- Small non COLA pension: 12K annually starts at 55
- Primary home equity: 600K. plan to pay off when RE or sell and move back to one of the rental.
- After tax accounts: 400K in cash/saving accounts
- College accounts for the 2 youngers are 75% funded
- Current annual expenses $98K
Thanks