BreathFree
Recycles dryer sheets
My three year plan: (currently I am age 43)
By age 46 have:
$30,000 yearly income from rental properties. (Completed, paid off last mortgage last Friday.)
$50,000 yearly income from self-employment. (Completed, but don’t know what the future holds for this income.)
Maintain $40,000 a year in expenses. (Complete, but not sure how healthcare may change this.)
$1,000,000 invested in stocks, bonds. (This is the last goal I have to meet. I figure 1,000,000, if left alone, will grow to approximately 2,000,000 by age sixty and provide $60,000 a year income at a 3% WR)
Leave my job at 46. I will not be able to return once I leave. I plan to allow my occupational license to expire and I will no longer be able to work in that capacity. (This is the scary part, I am highly compensated and would not be able to replace this income once it is gone.)
Anyone else do something similar? Rather than save every year and then retire right away, set a lump sum to the side for retirement well short of the amount you think you will need, leave it alone, add little to it and take none away, and let it grow. Then, derive income from your passions or hobbies until your retirement account has grown to meet your SWR. Please pick my plan apart. Any comments are appreciated, constructive or otherwise.
By age 46 have:
$30,000 yearly income from rental properties. (Completed, paid off last mortgage last Friday.)
$50,000 yearly income from self-employment. (Completed, but don’t know what the future holds for this income.)
Maintain $40,000 a year in expenses. (Complete, but not sure how healthcare may change this.)
$1,000,000 invested in stocks, bonds. (This is the last goal I have to meet. I figure 1,000,000, if left alone, will grow to approximately 2,000,000 by age sixty and provide $60,000 a year income at a 3% WR)
Leave my job at 46. I will not be able to return once I leave. I plan to allow my occupational license to expire and I will no longer be able to work in that capacity. (This is the scary part, I am highly compensated and would not be able to replace this income once it is gone.)
Anyone else do something similar? Rather than save every year and then retire right away, set a lump sum to the side for retirement well short of the amount you think you will need, leave it alone, add little to it and take none away, and let it grow. Then, derive income from your passions or hobbies until your retirement account has grown to meet your SWR. Please pick my plan apart. Any comments are appreciated, constructive or otherwise.