Reply to can I afford to maintain my household if I don't work again?

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[quote=Anonymous]You can, but you will have to be strategic and will be drawing significantly on your post tax dollars to supplement until you can withdraw from 401k--at that point, you will be more than fine, with withdrawals plus rental income.

You may want to do Roth conversions if unemployed, important to model, but either way, you will need to really rely on rental income so loss of tenants is an issue, but right now, if you do not have significantly higher expenses than listed, and can find an ACA plan for 2200/2500 month, with 8-10k deductible, you can just get by. It would be better to stay employed for health insurance, or if you lose your job at 55 so you can withdraw from 401k penalty free. Otherwise, your tightest years are the next few until 59.5--kids still at home for a while, no ability to draw from 401k without penalty, so you will be leaning hard on that 600k.

My advice, if you lose your job, is to find something part time or lower income--a 50k/year cushion or anything with health insurance. I would also, for now, reduce your 401k to the match and if you have access to it, max out an hsa. [/quote]

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