Erbragg1
Recycles dryer sheets
- Joined
- Aug 26, 2017
- Messages
- 73
I first posted about a year ago seeking opinions on whether the forum thought I was on track to FIRE in a few years. Got some great advice then, but need some more now as a lot has changed for me in the past year.
Three main things concern me: first, my parents and my DW’s parents are all taking turns visiting the hospital and are declining rapidly. It has been somewhat shocking how quickly their collective health situations have taken turns for the worse in the past year or so. Second issue is my j*b has become untenable over the last few months. Two more reorgs in the past four months and the latest one has clearly put me in the “undesirable” category. I firmly believe they are pigeonholing me with the hope that I will eventually quit. They may eventually just lay me off, but it will be miserable in the meantime.
This brings me to the third item which is my finances and my reason for posting today. I have had a really good year and would like very much to RE so I can get away from my horrible w*rk situation and use my time to spend as much as possible with the parents and to help them out.
Here is my situation in a nutshell:
$2.4M in invested assets. AA currently is 70% stocks, but I have started backing that down and have moved many of the stocks to strong dividend payers.
$1.8M in tax advantaged
$450K in Brokerage
$60K in 529
$65K in cash, CD, Money Market
Also have $300K equity in house, have an HSA with $15K in it and own a Long Term Care Policy.
DW is 49 and I will hit 50 in November and we are assuming a longevity of 95 years old =45 years in retirement. Two kids (20, 17). Eldest is 1/2 way through college and youngest is a senior in HS. 529 money will pay for almost all of the expected future costs for their education.
DW will get a small ($3K per year with COLA) starting at 60. Our combined SS at 62 will be roughly $2400/mo.
Expenses have been tracked religiously over the past year based on advice from my first post. From now till house is paid off, I will need $104K/year. Once House is paid in 2028 (10 more years), expenses will drop to $85K/year.
I can bridge the gap from ER till SS kicks in via combination of 72t and burning down Brokerage money.
FireCalc somewhat confuses me as there are a lot of different options/assumptions you can play with. I get anywhere from an 87% to a 100% depending on which assumptions I use.
I would greatly appreciate feedback from you all on whether you feel it would be too risky to pull the plug towards the end of this Year?
Three main things concern me: first, my parents and my DW’s parents are all taking turns visiting the hospital and are declining rapidly. It has been somewhat shocking how quickly their collective health situations have taken turns for the worse in the past year or so. Second issue is my j*b has become untenable over the last few months. Two more reorgs in the past four months and the latest one has clearly put me in the “undesirable” category. I firmly believe they are pigeonholing me with the hope that I will eventually quit. They may eventually just lay me off, but it will be miserable in the meantime.
This brings me to the third item which is my finances and my reason for posting today. I have had a really good year and would like very much to RE so I can get away from my horrible w*rk situation and use my time to spend as much as possible with the parents and to help them out.
Here is my situation in a nutshell:
$2.4M in invested assets. AA currently is 70% stocks, but I have started backing that down and have moved many of the stocks to strong dividend payers.
$1.8M in tax advantaged
$450K in Brokerage
$60K in 529
$65K in cash, CD, Money Market
Also have $300K equity in house, have an HSA with $15K in it and own a Long Term Care Policy.
DW is 49 and I will hit 50 in November and we are assuming a longevity of 95 years old =45 years in retirement. Two kids (20, 17). Eldest is 1/2 way through college and youngest is a senior in HS. 529 money will pay for almost all of the expected future costs for their education.
DW will get a small ($3K per year with COLA) starting at 60. Our combined SS at 62 will be roughly $2400/mo.
Expenses have been tracked religiously over the past year based on advice from my first post. From now till house is paid off, I will need $104K/year. Once House is paid in 2028 (10 more years), expenses will drop to $85K/year.
I can bridge the gap from ER till SS kicks in via combination of 72t and burning down Brokerage money.
FireCalc somewhat confuses me as there are a lot of different options/assumptions you can play with. I get anywhere from an 87% to a 100% depending on which assumptions I use.
I would greatly appreciate feedback from you all on whether you feel it would be too risky to pull the plug towards the end of this Year?