1thindime
Confused about dryer sheets
Hi everyone. I am a 52 yr old divorced male living in Texas. I spent 38 years of formal education including two doctorates getting to the place where I am now. The problem is I hate where I am. I work as an independent contractor but I hate the place where I work. I have worked other places, but feel that I am getting to the age where don't know if I would adapt well to a new work environment. I hate where I am since I feel I get no respect, and have people who have no education, experience or training in what I do, trying to tell me what to do, or not respecting what I think needs to be done. On the other hand, I earn a very good stable income, and am frightened to lose the security of this income. These opposing factors pull me in differing directions on an hourly basis.
I want to semi-retire ASAP so that I can do the things I like. These include seeing my 11 year old son more who lives in another state half-way across the country, and traveling to places I love, or places I would love to go to. When I semi-retire, I could do part-time work, and pick and choose where and when to work. Ideally, I would like to keep my current large home in Texas (300K equity and balance of 56K), and puchase another home perhaps in Las Vegas which is driving distance to my son (he lives in CA but dont want to pay CA 10% income tax) .
The financial facts are the follows:
500K retirement assets (414K cash and the remainder equities (indiv. stocks/mutual funds)
500K investment assets (200K cash and the remainder equities)
The reason that I have so much cash is that I have a strong belief that the stock market is going to re-crater. Further as a hedge, I am investing as follows:
130K/year retirement contributions to purchasing equities/mutal funds.
100K/year investment contributions to purchasing equities/mutal funds.
I have no credit card debt, and make payments of 2500/mo to my mortgage, and 1700/mo child support. No other debt/obligations.
I am torn on a daily basis between simply quitting where I am, and do temp work where I could make 300K/year full time, or going perhaps part-time and earn less, and cut back on saving.
I think that I am scared of losing luxury of having a high income, but know that money does not buy happiness. In the past year, I planned to get to 2 million assets (which I think I could achieve in the next two years perhaps) but my frustration level at work makes it almost unbearable for me. With my current 1 million in savings, I think I will not starve as long as I dont touch it for 10 years, and I work half-time or more. This would allow me to quit my current job, and do alot more of what I want to do
I want to semi-retire ASAP so that I can do the things I like. These include seeing my 11 year old son more who lives in another state half-way across the country, and traveling to places I love, or places I would love to go to. When I semi-retire, I could do part-time work, and pick and choose where and when to work. Ideally, I would like to keep my current large home in Texas (300K equity and balance of 56K), and puchase another home perhaps in Las Vegas which is driving distance to my son (he lives in CA but dont want to pay CA 10% income tax) .
The financial facts are the follows:
500K retirement assets (414K cash and the remainder equities (indiv. stocks/mutual funds)
500K investment assets (200K cash and the remainder equities)
The reason that I have so much cash is that I have a strong belief that the stock market is going to re-crater. Further as a hedge, I am investing as follows:
130K/year retirement contributions to purchasing equities/mutal funds.
100K/year investment contributions to purchasing equities/mutal funds.
I have no credit card debt, and make payments of 2500/mo to my mortgage, and 1700/mo child support. No other debt/obligations.
I am torn on a daily basis between simply quitting where I am, and do temp work where I could make 300K/year full time, or going perhaps part-time and earn less, and cut back on saving.
I think that I am scared of losing luxury of having a high income, but know that money does not buy happiness. In the past year, I planned to get to 2 million assets (which I think I could achieve in the next two years perhaps) but my frustration level at work makes it almost unbearable for me. With my current 1 million in savings, I think I will not starve as long as I dont touch it for 10 years, and I work half-time or more. This would allow me to quit my current job, and do alot more of what I want to do