Related Posts
Is roomba s9+ worth it?
Additional Posts in FIRE Financial Independence Retire Early
Visual Storyteller
Ubering for the bonus. My little hack.
Anyone else into Bank Bonus churning?
Anonymous User
Coach
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
P.S: If you’re still working a desk job, you’re out of your mind.
Approx 6m liquid and 150k expenses is no brainer if you want to retire. If you are invested well and diversified and have a good withdrawal strategy your nest egg should grow significantly even being retired. I have about 4m liquid and around your expenses and 62 and financial managers tell me I better be working because I love it.
overall inflation is a silent killer of lifestyle…especially in the US. I would check if you have enough to finance your annual expenses in today’s money for your expected life - so let’s say optimistic 90 years - and buy the equivalent NOTIONAL of inflation linkers expiring in those years.
of course just as a concept - there will always be mismatches. however it should isolate you from the worst of inflation and - at least theoretically - market swings if you hold to maturity.
there is a good book to assess this called “the missing billionaires“. yes, it’s over dramatic etc. but the core is very much applicable to your situation.
You remind me of Don Eduardo (i.e Lalo Salamanca)
That’s Don Hector, Lalo Salamanca is young wild and free just like you my friend!
Thinking if you are a partner you have 4 more years to stack up assets before you retire. Of course you have enough to retire at any point, but I’m guessing you have a family and high spending habits and a mortgage on the house still. I would try to pay it off and get the kids off the payroll before you retire. I am younger but didn’t buy the big house and had my kids late so was able to stack up a bit as well. I am too far from retirement age to hang it up so decided to down shift to a coast role. If you’re completely fed up with big 4 and don’t see yourself hanging on until 60 you definitely have the assets to do that.
Slow clap 👏. Congrats. Hope you get to do whatever you always wanted to do.
I think you're doing amazingly well and you have little to worry about! I'm 47 with no retirement, one house with a mortgage, kids to raise, and big dreams. I'm grateful to have my health, even if I won't be retiring soon and I have no cushion, life is good. I have thought about buying some real estate to bring in passive income, but I'm not sure what steps to take besides looking around to see what's on the market. I see in the comments that you don't want to retire, and I think you shouldn't if it keeps you busy and happy!
Having $7 million in assets at age 56 is definitely a good investment. I will primarily focus on the diversification and liquidity of my portfolio, especially whether it includes real estate and inherited assets. The next focus may not be on growth, but rather on preserving and increasing wealth, tax planning, lifestyle, and estate management
if you have enough in non retirement accounts I'd say at least 1 million for you income needs then you should invest in neos or tappalpha covered call etfs and live off the tax deferred dividends until you reach 59.5 and can do the same with retirement assets. if you don't than its possible to take early retirement at 55 in your 401k plan to achieve same goal.
You should continue working for at least another 10-15 years. You'll be bored if you retire.
Lots of good charities
Good job. Keep going. enjoy the fruits of your labor.