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Reply to "Can we afford to retire now?"
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[quote=Anonymous][quote=Anonymous]No. You have $4m in investible assets, which means you could draw down $160k per year, and you'd have to pay taxes, tuition, and your mortgage out of the $160k annual spend. If I were you, I'd work for at least two more years to cover the $90k per year in private school expenses and see where they land for college, and then reassess. [/quote] +1 We will have about $3.8 mil when we retire next year (I'm 56; spouse is 62), two kids in college by then with 529 funded to what they need. ACA insurance is ridiculously expensive, even with the subsidies but even more so without, and who knows what the Rs will do about the subsidies. PITI is $2300. Monthly expenses all in without having to budget is about $10K, with travel about $12K. No way would I retire at 50 with only $3mil and two kids, and paying for private school at $90K/yr. Insane.[/quote]
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