How much would you want to retire at 50?

[Anonymous]

Anonymous wrote:OP here with an update. Inheritance all settled and part of that was college funding for the grandkids so my college freshman (only child) is set. Our net worth is now $8m—$7.2M invested assets and a paid off $800k townhome. We are both 50. HHI about $300k between us. Saving 30% of that annually. Living on $125k/year the last three years. I feel paralyzed.

Why do you feel paralyzed?

[Anonymous]

Anonymous wrote:OP here with an update. Inheritance all settled and part of that was college funding for the grandkids so my college freshman (only child) is set. Our net worth is now $8m—$7.2M invested assets and a paid off $800k townhome. We are both 50. HHI about $300k between us. Saving 30% of that annually. Living on $125k/year the last three years. I feel paralyzed.

You are all set, OP. Your $7.2m will generate enough to pretty much replace your HHI. It is for sure enough if you plan on living on $150k. You made it. You can quit tomorrow. Do it!

Congrats!

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here with an update. Inheritance all settled and part of that was college funding for the grandkids so my college freshman (only child) is set. Our net worth is now $8m—$7.2M invested assets and a paid off $800k townhome. We are both 50. HHI about $300k between us. Saving 30% of that annually. Living on $125k/year the last three years. I feel paralyzed.

You are all set, OP. Your $7.2m will generate enough to pretty much replace your HHI. It is for sure enough if you plan on living on $150k. You made it. You can quit tomorrow. Do it!

Congrats!

+1. If you are happy at $125k a year, you have more than enough. Even at a 3% withdrawal rate, $7M is $210k. A 2% date is $140k.

[Anonymous]

I know, that’s why I feel paralyzed. I feel like I’m really close to being able to do this and I don’t know how to evaluate if that’s what I want.

[Anonymous]

No. I have zero interest in retiring. Probably ever. Not until my body and mind crumble so much that I can't work, anyways.

[Anonymous]

How did you get to $7-8M on a HHI of $300K?

[Anonymous]

Anonymous wrote:I know, that’s why I feel paralyzed. I feel like I’m really close to being able to do this and I don’t know how to evaluate if that’s what I want.

If you don't like working, quit.

If you don't mind working, don't quit.

I don't mind working, but I want to travel more, so I'm going to quit when I'm 56 when the youngest goes off to college.

[Anonymous]

Anonymous wrote:How did you get to $7-8M on a HHI of $300K?

read up thread... inheritance.