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"We're getting two girls and a gay goat."
Senior (audit in charge) salary?
Subject Expert
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Bowl Leader
"We're getting two girls and a gay goat."
Senior (audit in charge) salary?
Subject Expert
Work till 50. You will likely have 75 years of expenses if all goes well. That will be safer. Think of it as your 50th birthday gift 😀
Pro
Move to another country . Go see the world.
Have already visited ~30 countries and lived in 4, but yes plan to visit more in the future.
I'd retire today with those numbers
Pro
Do you like working?
Edit: I see you said it’s draining.
Find something you like to do and do that instead. You have time to sort it out. Use it and quit your current job.
So your financial peace is done. You’ve obviously got plenty of money. It’s more the other side of the question - what do you want to do? U have to retire to something not from something.
You can retire now if you want to. The question you have to ask yourself is what are you going to do once you do retire?
You'll have 40 hours a week more free time, but most if not all of your peers will be clocking in during that time so it could be really easy for you to get bored and spend more than you do currently.
If I were you I'd take a test run. Maybe a few months off, or just scale back to part time work and see how you're feeling after a material amount of time doing that.
I'll add a couple more details that may affect opinions.
My current income is about 8x my annual expenses. So, every additional year of work is a substantially sized extra retirement buffer/safety net.
However, while my job is not overly stressful, it's still a drain on my daily mental health, and I'm frequently thinking about just stopping working.
Hence, my back and forth on the decision
I think you need to work on getting more excited about your life after you retire. Plan how you want to spend your time and realize how much better that is than working…
I would get a chill job doing something you love! No pressure, no stress! Enjoy your life knowing the little you make at your “fun” job could shield you from bumps the market may give you here and there. Or focus on diversifying your portfolio and increasing passive income to provide that protection but OP you earned the right to go do WTF you want to do!
Personally, I would travel more and start learning and doing all the things I want to do / don’t spend enough time doing like learning new languages, cooking, flying a plane or sailing a boat, spending time with loved ones, spending time with myself, reading, golfing, working out … the list goes on?!
👍 Currently learning a 3rd language and will start sign language classes later this year.
As long as you are using realistic expenses and favoring in taxes, health care, etc, you can retire today
I would personally retire and just do some ad hoc consulting gigs or flip real estate or something to generate income without a 40 hour work week
What’s your HHI
I would retire 3 years ago.
Maybe it's not total retirement, but just something you LOVE and are really passionate about doing. Even if you don't earn 8x expenses at that point, you're still earning. Live it up, tomorrow is never promised!
I would definitely retire, maybe do some side-gigs for fun and enjoy my life.
Are you single because I am interested?
Wow! What do you do? And how much do you make? Your title says Senior consultant (not sure if it is the latest) and your current income is 8x your expenses? So even if your expenses are a modest 4k/month are you packing in 400k/year? Is this just TC? Or do you have other income sources?
None of the big firms. Feel free to ask questions via DM.
Pro
How old are you?
Their savings can still grow in the market for the next few decades. Having 50 years expenses saved is a ton. It's not like they're cashing it all out the moment they retire.
Can you go part time and slowly transition to retired life style? May be that will help you ease into it.
Yes, and no…. Do you have kids? Just a heads up our expenses skyrocketed when the kids were in high school and college. If it were me, I’d struggle to retire even with those numbers. Suggest just changing jobs - mostly to ensure you have health care.
Edited to add: struggle not because of the finances - I actually think you would be ok there but don’t like the unpredictability of a longer future in retirement - but struggle with self-identity if I stopped working altogether. It is hard to be in your 40’s and say you are retired - people just think you were fired or lazy and you don’t have as many peers to hang with during working hours.
My expenses went down when they went to college actually.