WestLake
Recycles dryer sheets
- Joined
- Jun 7, 2011
- Messages
- 239
Well, sorry to be so negative right off the bat! I have been exploring this forum for a bit and it seems there are quite a few helpful and knowledgeable folks.
I'm working at a great old company in a dead-end job and I've been here about 25 years. Had a better job after college but was laid off, then sold real estate then went to this job where I had been employed in college.
The pay here is just over 50K and it has great benefits. However the firm is mainly for professionals in a field where I don't have that degree (but I do have a minor in that and worked in this industry in my first job in a more professional capacity). I have no interest in going back to college to earn one of those degrees cherished here.
I wanted to retire early anyway and have been building up to that for many years, very intensely in the past 13 years. The problem is that my boss does not seem to think I am qualified to do anything, won't give me any work but expects me to roam around the company and find some other sort of duties. I have two college degrees and a few of the support staff who have real duties and contribute around here barely got out of high school. I don't know if it's a personality conflict or that he knows something about my personal life or what...anyhow I can't seem to make any headway with him and I've been trying for 4-5 years. He won't give me any assignments then excoriates me at job reviews for not doing anything!
Well, as I said I have built up quite a bit for retirement over the last couple of decades:
I have ten single-family rental properties and all but two are paid off (small mortgage balances on those two). Two of the paid-off rentals are basically non-performing (high taxes and insurance) as I break even - one is worth about $175K and the other about $300K. Selling the second would incur a large tax bill as I have owned it for 30 years almost.
In a good year I can probably clear around $50,000 per year on all these properties.
I have a home which is paid off and the guest house out back is rented and the amount covers my insurance, property taxes and utilities.
I have a small lake cabin on three lots worth around $100K. Needs work.
I have taxable stocks worth around $300K and the dividends pay around $8,500 per year - I would dedicate this towards health insurance.
I have a 401K worth about $425K and a Roth IRA worth about $17K
About $15K in the bank for emergencies.
I am 53, was planning to pull the plug at late 55 in 2014 and hopefully get health insurance at that point (pre-existing condition - HBP and take cholesterol meds).
I don't think I can take too much more of this and I am wondering if you think I can do it now. I have a real estate broker's license and I would probably go back into sales but I don't want to go overboard with that. Would rather dabble as in take new clients every so often as I am extremely knowledgeable about the area where I live and it's popular.
So what are your thoughts good people?
I'm working at a great old company in a dead-end job and I've been here about 25 years. Had a better job after college but was laid off, then sold real estate then went to this job where I had been employed in college.
The pay here is just over 50K and it has great benefits. However the firm is mainly for professionals in a field where I don't have that degree (but I do have a minor in that and worked in this industry in my first job in a more professional capacity). I have no interest in going back to college to earn one of those degrees cherished here.
I wanted to retire early anyway and have been building up to that for many years, very intensely in the past 13 years. The problem is that my boss does not seem to think I am qualified to do anything, won't give me any work but expects me to roam around the company and find some other sort of duties. I have two college degrees and a few of the support staff who have real duties and contribute around here barely got out of high school. I don't know if it's a personality conflict or that he knows something about my personal life or what...anyhow I can't seem to make any headway with him and I've been trying for 4-5 years. He won't give me any assignments then excoriates me at job reviews for not doing anything!
Well, as I said I have built up quite a bit for retirement over the last couple of decades:
I have ten single-family rental properties and all but two are paid off (small mortgage balances on those two). Two of the paid-off rentals are basically non-performing (high taxes and insurance) as I break even - one is worth about $175K and the other about $300K. Selling the second would incur a large tax bill as I have owned it for 30 years almost.
In a good year I can probably clear around $50,000 per year on all these properties.
I have a home which is paid off and the guest house out back is rented and the amount covers my insurance, property taxes and utilities.
I have a small lake cabin on three lots worth around $100K. Needs work.
I have taxable stocks worth around $300K and the dividends pay around $8,500 per year - I would dedicate this towards health insurance.
I have a 401K worth about $425K and a Roth IRA worth about $17K
About $15K in the bank for emergencies.
I am 53, was planning to pull the plug at late 55 in 2014 and hopefully get health insurance at that point (pre-existing condition - HBP and take cholesterol meds).
I don't think I can take too much more of this and I am wondering if you think I can do it now. I have a real estate broker's license and I would probably go back into sales but I don't want to go overboard with that. Would rather dabble as in take new clients every so often as I am extremely knowledgeable about the area where I live and it's popular.
So what are your thoughts good people?