My wife and I were married later in life (1st for both of us) in 2008. My wife gave birth to our daughter at 47 and I was 52 ! I'm now 57 and recently decided to retire at Christmas 2020.
My wife got an excellent job offer last fall (she's a pediatrician) and received a 50% (+) pay raise with this new job while still working a 4-day week with no weekends or call. She's from Brazil so she had to take a series of exams plus go through residency again so she could practice medicine in the US. She's only been practicing here since the summer of 2017.
She brings home more than 75% of our income now so I've decided to stay home with our daughter. By the time we pay our nanny and the income taxes on my portion of our income - I'm literally working for $18,000/yr which is obviously ridiculous.
The house is paid and we max our retirement accounts which currently have ~$700 K. I figure we'll be able to save $100K (+) per year which will go up to $150 K when my daughter and I start collecting SSI when I turn 62. I found out my daughter will get 50% of my full retirement age benefit until she graduates high school even though I start collecting at 62. Her SSI benefit should pay for most if not all of her college.
I'm hoping we'll have ~ $2.0 - $2.5 M by the time my wife retires. That's the plan anyway.
My question:
I'm a traveling salesman and now that my wife is knocking it down, I'm no longer pushing as hard in my job and it bothers me somewhat. I suppose the thoughts will lessen as I get closer to retiring next year. Any feedback ?
My wife got an excellent job offer last fall (she's a pediatrician) and received a 50% (+) pay raise with this new job while still working a 4-day week with no weekends or call. She's from Brazil so she had to take a series of exams plus go through residency again so she could practice medicine in the US. She's only been practicing here since the summer of 2017.
She brings home more than 75% of our income now so I've decided to stay home with our daughter. By the time we pay our nanny and the income taxes on my portion of our income - I'm literally working for $18,000/yr which is obviously ridiculous.
The house is paid and we max our retirement accounts which currently have ~$700 K. I figure we'll be able to save $100K (+) per year which will go up to $150 K when my daughter and I start collecting SSI when I turn 62. I found out my daughter will get 50% of my full retirement age benefit until she graduates high school even though I start collecting at 62. Her SSI benefit should pay for most if not all of her college.
I'm hoping we'll have ~ $2.0 - $2.5 M by the time my wife retires. That's the plan anyway.
My question:
I'm a traveling salesman and now that my wife is knocking it down, I'm no longer pushing as hard in my job and it bothers me somewhat. I suppose the thoughts will lessen as I get closer to retiring next year. Any feedback ?