Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

Well you need 5 million to retire, be mortgage free, cars paid off and be at least 63.5 in case you have to use COBRA to 65 as need expensive medical care that might not be covered under a cheaper plan.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I became self-employed at 37 and had about a million saved. Now I am 42 and bill 20-25 hours per week. Last year I earned about $175K, which is enough for my needs.

I’m on my spouse’s health insurance and we have 1 young child. If it doesn’t work out, I’ll have to go back to the office one day … but I’d rather not!

What do you do for 20 hrs a week and bring in $175k?!?

THAT"S what I'd like to know. Sounds sketchy.

Anonymous wrote:

Anonymous wrote:I became self-employed at 37 and had about a million saved. Now I am 42 and bill 20-25 hours per week. Last year I earned about $175K, which is enough for my needs.

I’m on my spouse’s health insurance and we have 1 young child. If it doesn’t work out, I’ll have to go back to the office one day … but I’d rather not!

What do you do for 20 hrs a week and bring in $175k?!?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

LOL You are 43.

I'm 55, DH is 60. You know how much ACA costs? Almost $1200 for the just the two of us. And that's a hdp with kaiser or hmo with carefirst.

Also, the price depends on where you live. That's why I stated for OP to check out the price of ACA BEFORE they move to a new area.

I've had private insurance on/off for 20 years, including the past 6 years through ACA.

Anonymous wrote:That's me. I need $4k to live. $2k for housing and $2k for spending. Easy.
There's plenty of money in investment accounts in case I go over budget.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

Well you need 5 million to retire, be mortgage free, cars paid off and be at least 63.5 in case you have to use COBRA to 65 as need expensive medical care that might not be covered under a cheaper plan.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

Anonymous wrote:I don't want to work for employers anymore. I just want to have my own clients or change careers.
I am late 40s. College is funded for kids.
I am not a fancy person.
I may even move to a LOC area when my kids go to college in 8 years.

What would your number be (retirement savings, cash on hand or home equity) if you wanted to just take a risk and work for yourself and not be a member of the full-time rat race. I have a decent amount in retirement and cash. I sold my house. Divorced (not married).

Anyone want to share their number if they were me in this scenario?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

LOL You are 43.

I'm 55, DH is 60. You know how much ACA costs? Almost $1200 for the just the two of us. And that's a hdp with kaiser or hmo with carefirst.

Also, the price depends on where you live. That's why I stated for OP to check out the price of ACA BEFORE they move to a new area.

I've had private insurance on/off for 20 years, including the past 6 years through ACA.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: I already have a side business that brings in 55k a year. If I were to partially retire what I mean is that I would try to scale up that business. I think I can get to over 100k in 6 months.

I have 850k in retirement. I have 375k liquid. I don’t have property (I just sold) and feel priced out of the area. I can’t move now. I also have kids. I feel like I have enough cushion to take the risk of working for myself but was wondering what others would think. I am late 40s. I have also considered switching careers but the ROI on retraining does not seem worth it.

The biggest issue is healthcare. ACA insurance is very pricey. You'll also want to coverage for your kids, I assume. Wherever you think of moving to, check the ACA marketplace first.

We were self employed for many years and had ACA insurance. While ACA has enabled many, including us, to become self employed, it is very expensive.

At 40something, you have like 15 to 20 years of needing private insurance.

My kids don't need insurance--they have it. Most people I know who do this pay $400 to $500 a month. That is not that much.

Exactly. DCUM has this absurd fear of healthcare costs because they’re all W-2 employees who only have to interact with the private insurance marketplace when they retire early at age 61, at which point health insurance *is* fairly expensive.

The thing is that insurance does become significantly more expensive as you age. For example, you should probably plan to pay over $1,000/month from age 60 to 64, so you cannot plan your future healthcare budget in the same way that you plan your future food budget, i.e., by considering what you pay today and adjusting for inflation.

But it’s really only a five-year period when insurance really is expensive. Notwithstanding that fact, you have a bunch of people on DCUM with $300K HHIs and $3M in the bank who think they cannot retire because of healthcare. It’s totally absurd; it’s like they don’t even realize that there are self-employed landscapers earning $75,000 a year who purchase their own health insurance their whole lives.

I’m 43 and pay $240/month for my ACA plan. Such a ridiculous blind spot that DCUM has.