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At $5 million. I downshifted (just under half of comp) a few years ago. Thanks to market and other decisions, now at $9+ and fully retired.
How much is fully funded 529?
Here were all my numbers: I think I was only at 900k four years ago when I left consulting to go to a fully remote chill job. Total comp from 225 to 186. I was 36 with a 5 and 2 year old. This job, while not a lot, met my criteria of “enough” and it was fully remote. Could I have continued the search and got more? Probably yes, but I wanted to start spending more time with my kids especially as they started elementary school and sports and I wanted to be more involved in those. Caveat: this is just me, not total household
Had you already set aside money for their schooling/college before you cut back?
I’d just be happy to stay on me employer’s heath insurance. I’ve got enough to cover everything else.
Started with a $4m target split between 2 of us. Now have a $7m target for myself alone. The goal posts keep moving (or rather, I keep moving them).
We are at $8m with house and colleges paid. Our number is $10m and hope to be there in the next 3-5 years.
I’m 42. MCOL
My dad is "retiring early" taking 30k out of his IRA per year which would keep it steady at 800k for the next 5 years.
$7.5M, which would provide $300k of spend ability each year, at a 4% safe withdrawal rate.
I wouldn’t even know what to spend 300k a year on
I’m there with slight over 2mil and have been desperately looking for a remote job for over a year with zero success in actually landing one.
Hi there!
Congrats on your "slightly over 2ml" -- that's awesome!
I work fully remote for a Big Law law firm but I'm not an attorney. Been there for 25 years though, so I know my stuff and I make a decent six figures plus overtime, which is a fantastic salary for me.
That said, I did a little digging on firms that are fully remote because I had heard of fully remote law firms and wanted to see if it was a real thing. Turns out, it is! Check them out below. Who knows, maybe it helps you land the remote job that you want. Good luck! :)
Scale LLP is a prominent law firm that operates on a 100% remote-work model, designed for efficiency and flexibility without physical office space. Other firms operating entirely or primarily in a virtual, remote capacity include VLP Law Group, Pierson Ferdinand LLP, and Fisher Phillips' Virtual Office.
Key Remote-First Law Firms:
Scale LLP: A distributed law firm built on a 100% remote-work model, allowing attorneys to work from anywhere.
VLP Law Group LLP: A virtual law practice with no physical headquarters, where attorneys work remotely in various practice areas.
Pierson Ferdinand LLP (PierFerd): A modern, remote-based firm operating across numerous markets.
Fisher Phillips Virtual Office: A dedicated, fully remote group within the Fisher Phillips firm focusing on employment law.
Axiom: A major provider of tech-enabled legal talent that operates remotely.
These firms leverage technology to eliminate the need for traditional office spaces, focusing on flexibility for attorneys and cost efficiency for clients.
Coach
Probably $2m to coast or 4-5m to be completely done.
At 2 I wouldn’t quit without the chill job lined up though unless work was really bad. Basically I would accept the pay cut but not the joblessness
I quit with about 60K in the bank
Depending on what other income streams you have. My number is $1.6M with almost all debt paid down and ~$12k in side income
Tell us what your side income is!
$7.5M, which we have. I’m in biglaw and failing to find an in-house position despite being willing to take a significant pay cut, so it’s more about finding the opportunity now.
Btw, $450k is really good, and assuming you’re investing wisely, will grow faster than it took to get there.
5m downshift 10m done
I used bolden dot com and entered all
my data to arrive at my decision. It’s not expensive like $10 a month. A little bit of a learning curve and your have to take time to enter you details regarding income and expenses to see at what point you can afford to retire for your age and financial situation.
3 million
3.5M invested (1.3 401k, remainder taxable), 2.3 in real estate equity (primary, vacation and investment property). at 55 I am ready now, this includes a very large chunk of this set aside to pay for kids college tuition. I'm working with about 88-95% likelihood of success in Boldin. I'm excited and nervous but if it starts going tough husband and/or I can go back to work.
I would sit down with a financial advisor to determine what your needs will be over your projected lifespan alongside rising costs, inflation, current net worth (debt is important here), and spending profile. That's the number I would stick with. What works for somebody else won't work for you.
$900k in accounts plus two rental assets in the process of being paid off. I wouldn't necessarily quit my job - I already did a careful step-down and like my new job and my new company - but I would feel comfortable walking away from corporate at that point to work essentially for health insurance and bills.
Happy to possibly start this now, 53, ~1.3M. it has been growing about $10k/mth last 36mths
$1m for me in my current situation. I'm single and don't buy much.
So i work in biglaw so think about this question a lot. I think its at 3m (not including RE investing). Will probably be there in 3-4 years. Currently just toughing out the long hours because the high income is so nice.