Islandtraveler
Recycles dryer sheets
Hello everyone. I cannot tell you how happy I am to discover this blog and to find like minded individuals seeking early retirement. I too discovered this site as a Bogelhead. I am 53 and the wife is 52. I have 3 years left on a concluding contract with a company that pays me 600k as an independent contractor in the franchise industry.
Although I embrace the lifestyle philosophy of the Bogelheads, I do not follow the investment strategies. I have been a self directed investor for 30 years and have managed to limp through the market downturns in addition to 2008-09 mini depression. The wife and I have lived below our means throughout our married life and are now seriously considering ER.
The house has been paid off since 1996 during a brief but very successful albeit lucky brush with the commodity market. We have managed to accumulate about 725k in our SEP as well as 2 mil in stocks and 1 mil in bonds. Total NW less the home is about 3.25 M. Living expenses are about 75k. I am in the process of feathering the nest and reducing expenses in our only home. I have installed a solar electric system which essentially eliminates a $2,500 annual bill as well as installing a high efficiency gas heating system replacing a 20 year old oil system anticipating another 2k in savings.
We have one college bound boy that wants to go away to school but seems to lack the motivation to improve his chances to attend a good school. I don’t think that he knows that his family has a few scheckles as we have told him that his college endeavor will be financed through student loans which will be paid by us based upon his performance.
I hope that I am not coming across as bragging as it is not my intention. Nobody knows my financial situation but I want to be as forthcoming could be. I have always had a fear of poverty as I watched my father who earned a good buck throughout his life, die broke.
I have worked a portfolio based on appreciation and dividend reinvestment but need to understand the nuances of drawing an income off of my portfolio. This scares me. I have been paying into this thing for so many years but I do not know how to take it out. I feel like a deer in the headlights and I need to educate myself. I welcome opinions and advice. My apologies for the length of this post.
Although I embrace the lifestyle philosophy of the Bogelheads, I do not follow the investment strategies. I have been a self directed investor for 30 years and have managed to limp through the market downturns in addition to 2008-09 mini depression. The wife and I have lived below our means throughout our married life and are now seriously considering ER.
The house has been paid off since 1996 during a brief but very successful albeit lucky brush with the commodity market. We have managed to accumulate about 725k in our SEP as well as 2 mil in stocks and 1 mil in bonds. Total NW less the home is about 3.25 M. Living expenses are about 75k. I am in the process of feathering the nest and reducing expenses in our only home. I have installed a solar electric system which essentially eliminates a $2,500 annual bill as well as installing a high efficiency gas heating system replacing a 20 year old oil system anticipating another 2k in savings.
We have one college bound boy that wants to go away to school but seems to lack the motivation to improve his chances to attend a good school. I don’t think that he knows that his family has a few scheckles as we have told him that his college endeavor will be financed through student loans which will be paid by us based upon his performance.
I hope that I am not coming across as bragging as it is not my intention. Nobody knows my financial situation but I want to be as forthcoming could be. I have always had a fear of poverty as I watched my father who earned a good buck throughout his life, die broke.
I have worked a portfolio based on appreciation and dividend reinvestment but need to understand the nuances of drawing an income off of my portfolio. This scares me. I have been paying into this thing for so many years but I do not know how to take it out. I feel like a deer in the headlights and I need to educate myself. I welcome opinions and advice. My apologies for the length of this post.