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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How much is your mortgage?

We are aiming for $250k/year after paying off mortgage and kids’ college costs. [/quote]

Mortgage and property tax is $4000 a month

Our HHI is $650 k. I forgot to mention that too.

Looks like we need to keep working! Ugh[/quote]

Yes, because for a couple with a HHI of $650K, you don't have "much saved".  A lot has likely been going to private schools.  That was a choice, so now you need to finish that and spend 3-5 years saving aggressively.

You need to plan for healthcare for until age 65---that could be $40K+ easily for just 2 of you (when you include the premiums and actually what your copays/deducibles are---even if you don't see a doctor much now, once you hit 50 even if very healthy that starts to change)

[/quote]

Well, we didn’t have such a high income until fairly recently so that’s why we don’t have ‘much saved.’[/quote]

That is a fair acknowledgment.  So were you paying for Private school for the kids before your income jumped to that point?

I personally would continue to work for 5-6 years, get the kid thru college and reassess.  But right now, you don't really have enough to retire, pay the last 2 years of $90K, pay for college (whatever is not paid for by the employer) and survive until 85+ and keep living the life you have (with a $4K mortgage/prop taxes).  Healthcare and the house will run you 100K (add in the maintenance, gardening, insurance and 100K is a fair estimate I think).  You still need to eat, fund your vehicle(s), and every other basic part of life.  and you want to travel.  But the $90K/year for private HS is taking up a lot of your income after taxes.  [/quote]

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