This is my story.
Currently in a middle management position, I work a minimum of 55 hours per week at the
office and another 5 to 10 at home catching up. It seems that upper management never trims the number of positions reporting directly to them, but can always find ways to streamline your team by eliminating positions that you must pick up the responsibility for. No vac. for last 2 yrs due to continual proj. deadlines etc... Well enough venting here I go.
I'm 50 years old (wife 54) and would like to FIRE in the next year or so. If I run the numbers they come up 100%, but would like some reassurance from the experts.
We currently have 590k in 401K accounts, 70k in cash accounts, 580k in home equity (own it free and clear) and no other debt (all new auto's for wife & kids paid for), in 5 years I am elgible for 1600 per month in retirement benefits (another story my co. went bankrupt so retirement benefits were reduced by half) and have medical through my wifes former employer (360 per month). I have 2 kids in college (1 junior and 1 freshman), both on academic scholorship, so financial burden is minimal (3000 per year). Would like to sell my home and retrieve 200k in equity for ER and put the rest into another home that would be paid in full. I need 55k gross to live on. Social security benefits at 62 will total 2700/mo my wife is elgible to begin drawing 1200/mo in 8 years.
I didn't explain above, but my wife ER'd in 1999 right before the market crash. It took its tole on her lump sum but we made it ok.
Currently in a middle management position, I work a minimum of 55 hours per week at the
office and another 5 to 10 at home catching up. It seems that upper management never trims the number of positions reporting directly to them, but can always find ways to streamline your team by eliminating positions that you must pick up the responsibility for. No vac. for last 2 yrs due to continual proj. deadlines etc... Well enough venting here I go.
I'm 50 years old (wife 54) and would like to FIRE in the next year or so. If I run the numbers they come up 100%, but would like some reassurance from the experts.
We currently have 590k in 401K accounts, 70k in cash accounts, 580k in home equity (own it free and clear) and no other debt (all new auto's for wife & kids paid for), in 5 years I am elgible for 1600 per month in retirement benefits (another story my co. went bankrupt so retirement benefits were reduced by half) and have medical through my wifes former employer (360 per month). I have 2 kids in college (1 junior and 1 freshman), both on academic scholorship, so financial burden is minimal (3000 per year). Would like to sell my home and retrieve 200k in equity for ER and put the rest into another home that would be paid in full. I need 55k gross to live on. Social security benefits at 62 will total 2700/mo my wife is elgible to begin drawing 1200/mo in 8 years.
I didn't explain above, but my wife ER'd in 1999 right before the market crash. It took its tole on her lump sum but we made it ok.