Op... you sound nice...but boring. Live a little! I get that travel is bad for the environment, but in non pandemic times, you could have so much time and bond with your family seeing the world. I’m not religious— I don’t think there’s a big payoff after this life. yolo and all that. Maybe you would derive more happiness from doing more for the environment and for the poor. In your shoes, I might go start a school for poor kids in India (I’m Indian, but not that I think that matters as I was born here). There was a book, three cups of tea, that was about a guy who started a school in Afghanistan. Or maybe find a cause closer to home and dig in deep. I’m like you and have jobs that pay well and are ok enjoyable, not hard. I’m not working currently and in a meh stage of life. I’m also trying to find my higher purpose. I get that it’s tough.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hit $5M invested assets this week, have teenager with fully funded 529 and a paid off home. Two working parents, one making $180k and the other part-time making $20k. Contributing max to 401(k) and Roths and HSA. I can’t figure out if we should be doing anything differently. Would you? If so, what? We are late 40s and not ready to retire.

Holy sh*t. At 200k HHI you have done very well. Congrats!

Did you inherit wealth or otherwise receive help? Trying to figure out how you accumulated so much on that income. I would quit, in your situation and enjoy having more free time to do what you'd like.

None of your business

Anonymous wrote:OP we are in similar boat as you, but about mid 40s. 5.5m total net worth, both working about 450 gross/yr, everything's paid off. Kids 529 are ok and consistently adding.

My husband hates his job and wants to retire, but we grew up poor and have anxiety over not having enough funds to pay for unforeseen items as we both have older parents.

We are looking at spending our cash on an a home for our kids. I'm hoping we can also start taking more expensive vacations now that they're in the 9-11 age and able to enjoy more of the places we take them to.

You'll think of something. And congrats!

You are so not in similar boat as OP. At that HHI, anyone can do what you have. OP's HHI is less than 1/2 of yours.

OP here again--I see some of the comments to find a dream job, but I have no clue what kind of job would be interesting, provide full benefits, not require too much time or energy, and be something I could be hired to do. My dream job is actually being a head of school or opening a school, but that's a really hard job, a terrible investment, and no school would hire me without any credentials. So, that's unlikely. Beyond that, most jobs seem pretty similar and it would be silly to give up a job I currently like and am successful in to move to something I've never done on the chance it might be more, I don't know, fulfilling? Most jobs with benefits require full-time hours and I don't work more than ~45 hours a week now so it's not like I would get big chunks of time back as long as I"m employed.

I've done a fair bit of volunteering, and I'm not sure that's for me long-term as a way to fill large chunks of time. I'd rather give money, monthly in my budget for now, and a few large bequests when I'm dead. I'm not sure I know what people mean when they say to volunteer as a middle-aged person. I've done several stints on boards, acted as treasurer for my kid's school, currently manage the assets for an elderly relative, and sign up for roles here and there at school and extra-curriculars. What kind of volunteering have you found interesting and fulfilling? In any case, it doesn't solve the benefits issue. I am not hopeful we will solve the public health insurance issue given our insistence as a country on paying exorbitant sums on our military industrial complex.

I'm a thoughtful person, I care about the Earth (one kid decision), and I like being helpful. I don't think frequent pleasure travel is a responsible environmental decision and my kid is in high school so that's really not an option anyway. I think I can make the most impact my helping my staff grow professionally and be successful themselves. Sometimes I wish my job was, I dunno, easier? More fun? Less annoying? But that's silly--no jobs are that unless you are supremely lucky.

I think maybe the best thing I could do is not to look at our accounts for a year. I wish I could do that, but then my 30 years of Quicken would go to he**, LOL. I feel pretty committed to my current plan, which is to keep on truckin'.

Protect that money.

Long term care insurance?

Trusts for kids

Anonymous wrote:Thanks for the comments. Also nice to feel not so alone in these thoughts. The world seems very precarious these days, though maybe it does to everyone at all times. The idea of relying on the stock market now and for the next 40 years potentially is frightening. It’s not like an investor can retreat to bonds safely either. I suppose one benefit of having lower income is that we don’t have an expensive lifestyle so monthly draw would not be high in retirement. One of us has a genetic predisposition to blindness so that makes us nervous, too. Needing an aide is very expensive.

I guess we will keep trucking for now and see where we are in a few years. Seems strange not to do something differently but we do everything we want to, or at least it’s not money stopping us.

Very few people acknowledge the bolded truth.

I don't think the stock market as we know it today is going to exist in 15-20 years especially with the future of decentralized finance and cryptocurrencies.

A lot of people who are well off will not be well off in the next 10 - 20 years.

There are substantial changes coming for out current antiquated monetary system and very few people understand the implications of this.

I would retire and get more involved in my hobbies, volunteering, maybe working part time at a job I do for enjoyment. But, DH will have a pension with medical which eliminates a lot of worry.

Thanks for the comments. Also nice to feel not so alone in these thoughts. The world seems very precarious these days, though maybe it does to everyone at all times. The idea of relying on the stock market now and for the next 40 years potentially is frightening. It’s not like an investor can retreat to bonds safely either. I suppose one benefit of having lower income is that we don’t have an expensive lifestyle so monthly draw would not be high in retirement. One of us has a genetic predisposition to blindness so that makes us nervous, too. Needing an aide is very expensive.

I guess we will keep trucking for now and see where we are in a few years. Seems strange not to do something differently but we do everything we want to, or at least it’s not money stopping us.

Anonymous wrote:

Anonymous wrote:$17,091 Gross pay

$4,360 Taxes (Fed, state, FICA)

$3,178 401k's
$600 HSA

$475 Medical/Dental Insurance
$60 Limited Purpose FSA

$1,533 ESPP

----------------
$ 6,885 take home pay

Ok the insurance and ESPP were unexpected. This makes sense.

Nothing wrong with ESPP, but it seems a little silly to say $7000 is your take home pay. Really $8500 is your take home pay but you choose to buy company stock from your paycheck.

You are making $11,600 as 401ks are your money, going into your accounts unlike taxes.

Anonymous wrote:OP we are in similar boat as you, but about mid 40s. 5.5m total net worth, both working about 450 gross/yr, everything's paid off. Kids 529 are ok and consistently adding.

My husband hates his job and wants to retire, but we grew up poor and have anxiety over not having enough funds to pay for unforeseen items as we both have older parents.

We are looking at spending our cash on an a home for our kids. I'm hoping we can also start taking more expensive vacations now that they're in the 9-11 age and able to enjoy more of the places we take them to.

You'll think of something. And congrats!

Don’t forget some people die sooner than they thought, more and more now.

OP we are in similar boat as you, but about mid 40s. 5.5m total net worth, both working about 450 gross/yr, everything's paid off. Kids 529 are ok and consistently adding.

My husband hates his job and wants to retire, but we grew up poor and have anxiety over not having enough funds to pay for unforeseen items as we both have older parents.

We are looking at spending our cash on an a home for our kids. I'm hoping we can also start taking more expensive vacations now that they're in the 9-11 age and able to enjoy more of the places we take them to.

You'll think of something. And congrats!

Anonymous wrote:Reduce ROTH contributions (or ESPP), increase Vacation fund!

Do not decrease ESPP, sell it as soon as your purchase period occurs then draw down from that amount each month in equal installments until the next purchase period. Once you are on the ESPP train it is an easy way to reap the profit of whatever stock discount you get plus any gains. You are only “missing” the money during the first period of setting aside funds.

I wouldnt decrease ROTH either because you can always withdraw the contributions if you want them for something.

What do you want to do? Now is a good time to start finding more ways to enjoy your life.

Buy a boat

My old boss super rich on purpose gives ZERO to charity while alive. He knows they will just spend it.

He is a great investor. CEO, he retired with 200 million at 50. Goal is to get it to one billion by time he passes away and then 100 percent to charities he has fully vetted and been on board.

If you have a fully funded 529 for your teen, take half of the $420 each month that you have been putting in it and add it to your charitable giving, so $710/month. The other $210 can go to your vacation fund or something else.