wagemonkey
Confused about dryer sheets
- Joined
- Jan 23, 2006
- Messages
- 9
Hello Everyone,
I have been a lurker for longer than I care to admit and have finally decided to jump on in.
First, I would like to thank you all for your valuable posts. I have learned so, so much from them.
This forum has helped immensely to show me that ER can indeed be a part of my future.
My situation:
I am a 45 year-old single guy living near Milwaukee and working for a small tech firm in a growth industry. My income varies widely but should be in the $100,000-$200,000 range this year.
My goal is to ER before I get downsized/outsourced/canned or fed-up.
Any or all of these could happen soon because of the high rate of burn-out and fast paced nature of my business. I am OK with hanging on for a while longer to help pad my safety net but I’m also excited to put to work all the great ideas I’ve pick up on this board ! Part-time work is a realistic possibility for me and probably the smartest choice at this point.
In the early nineties I read Your Money or Your Life without much effect-- it just didn’t sink in. I picked it up again a few years ago and ……wham! It made complete and total sense to me. I then began to take a hard look at my habits and to research FI. My research led me to this site and the seed was planted.
Since then, I have read most of the books frequently recommended on this site and have shifted some assets to a new Vanguard account.
More and more I value time and freedom over material wealth and things. I find that I no longer need many of the distractions that I once did. I know that I will do just fine in a simpler ER mode with about $50-60K/yr and I look forward to giving it a shot!
I am not new to investing/saving. Along the way I have had a few successes and many investment mistakes and failures. I’ll take an occasional flyer but now concentrate mostly on slow, steady growth.
I was lucky to have had a father who was a wonderful LBYM and amateur investor role model(he even got me started in Fidelity Magellan in about 1984).
ER Vitals:
Home- $400,000 Equity, $250,000 Mortgage (my only debt) Taxes are high(about $8000/yr). I could rent out an apartment to defray costs if necessary during ER.
Regular IRA- $375,000 Mostly in diversified mutual funds. Some actively managed equity and managed futures( yes, I pay fees higher that most on this site would approve of).
Cash/Muni.Bonds-$150,000
Indiv. Stocks-$100,000
Real Est.Partnerships-$250,000
Restricted Stock in Company- Aprox.$900,000--I hope to diversify out of this over the next couple of years into something that throws off some income.
I have no pension at all and will also be paying for my own insurance coverage.
S-Security says I’m eligible. We’ll see what’s left when I get there.
I also own a small lake-house in northern Wisconsin where the livin’ is cheap and easy but a bit cold and dark in the winter months.
My dream is to trade the current high-cost residence for some warm weather digs and split the year between that place and Wisconsin. I have spent lots of time researching Hawaii, Panama and plan to check out the Texas Gulf Coast, Austin and Bend, Oregon soon. I whiffed on a place in Kona about three years ago and have since watched the price triple to the point where it’s now too rich for my ER blood. I hope to not repeat this mistake.
My main concerns are the timing of my exit, keeping expenses low, insurance, inflation and generating income since I don’t have a cola’d pension. I am also a little worried about getting hit by taxes when I cash-out and convert some of these assets.
I truly enjoy this board and I am glad to be here.
I hope I am able to make some worthwhile contributions!
Cheers
I have been a lurker for longer than I care to admit and have finally decided to jump on in.
First, I would like to thank you all for your valuable posts. I have learned so, so much from them.
This forum has helped immensely to show me that ER can indeed be a part of my future.
My situation:
I am a 45 year-old single guy living near Milwaukee and working for a small tech firm in a growth industry. My income varies widely but should be in the $100,000-$200,000 range this year.
My goal is to ER before I get downsized/outsourced/canned or fed-up.
Any or all of these could happen soon because of the high rate of burn-out and fast paced nature of my business. I am OK with hanging on for a while longer to help pad my safety net but I’m also excited to put to work all the great ideas I’ve pick up on this board ! Part-time work is a realistic possibility for me and probably the smartest choice at this point.
In the early nineties I read Your Money or Your Life without much effect-- it just didn’t sink in. I picked it up again a few years ago and ……wham! It made complete and total sense to me. I then began to take a hard look at my habits and to research FI. My research led me to this site and the seed was planted.
Since then, I have read most of the books frequently recommended on this site and have shifted some assets to a new Vanguard account.
More and more I value time and freedom over material wealth and things. I find that I no longer need many of the distractions that I once did. I know that I will do just fine in a simpler ER mode with about $50-60K/yr and I look forward to giving it a shot!
I am not new to investing/saving. Along the way I have had a few successes and many investment mistakes and failures. I’ll take an occasional flyer but now concentrate mostly on slow, steady growth.
I was lucky to have had a father who was a wonderful LBYM and amateur investor role model(he even got me started in Fidelity Magellan in about 1984).
ER Vitals:
Home- $400,000 Equity, $250,000 Mortgage (my only debt) Taxes are high(about $8000/yr). I could rent out an apartment to defray costs if necessary during ER.
Regular IRA- $375,000 Mostly in diversified mutual funds. Some actively managed equity and managed futures( yes, I pay fees higher that most on this site would approve of).
Cash/Muni.Bonds-$150,000
Indiv. Stocks-$100,000
Real Est.Partnerships-$250,000
Restricted Stock in Company- Aprox.$900,000--I hope to diversify out of this over the next couple of years into something that throws off some income.
I have no pension at all and will also be paying for my own insurance coverage.
S-Security says I’m eligible. We’ll see what’s left when I get there.
I also own a small lake-house in northern Wisconsin where the livin’ is cheap and easy but a bit cold and dark in the winter months.
My dream is to trade the current high-cost residence for some warm weather digs and split the year between that place and Wisconsin. I have spent lots of time researching Hawaii, Panama and plan to check out the Texas Gulf Coast, Austin and Bend, Oregon soon. I whiffed on a place in Kona about three years ago and have since watched the price triple to the point where it’s now too rich for my ER blood. I hope to not repeat this mistake.
My main concerns are the timing of my exit, keeping expenses low, insurance, inflation and generating income since I don’t have a cola’d pension. I am also a little worried about getting hit by taxes when I cash-out and convert some of these assets.
I truly enjoy this board and I am glad to be here.
I hope I am able to make some worthwhile contributions!
Cheers