Single, female, 47 yo partner w/ ~4M net worth (no kids). Is it enough to retire?

likeuplifting
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A simpler life with less stress and strife seems like not asking for a lot 🥂... cheers on your success so far... I also hope to financially secure (retired in a way) at 47-48. My pension would have vested, enough savings, real estate, etc. but there’s always more. I look at life in multiples of happiness, at $5MM I want to be able to spend my day doing something that does not take away from my happiness (board positions, independent consulting). At $25MM I want to do things that make me happier (travel, sports). At 50MM make other others happy (volunteer, philanthropy). We are all victims of the same strike, stress and resentment at work but we often still dish it out... good luck finding your peace!

likefunny

Thank you and hope all your goals are achieved! Happy 2020! 🥂

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Read on the FIRE movement. Specially covering health care and staying busy while in early retirement.

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Let's use the 4% SWR rule.

Can you survive with a 160k a year salary (before taxes)?

If you can, then please do. Most likely will end up working part time, consulting or doing a passion project that might still bring some income, but if you can strap to about 100k a year after tax, then you can.

likesmart

Congrats! Have fun.

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Not enough at 47. Bang out another 5-10 years. Then don’t retire, redirect to something you really want to do. Personally, I’d look to make a difference. Philanthropy, teaching, etc. Hell, be a ski instructor!

likehelpful

Thank you!

My personal view - that’s enough that you could retire, but it doesn’t mean you should. Purpose is important to happiness, so if you retire just to stop doing something that’s no longer satisfying, it doesn’t mean you’ll be happy unless you pick up a new focus that is. That focus doesn’t need to be a job, but it could be. In your situation, I might consider a “second act” in your career, rather than just retiring.

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Which company are you with? If Accenture, stay until 50 and you get access to their healthcare the rest of your life assuming you take it right away and never have a break in coverage.

Two more thoughts:

1. At your age, I would count on 3% rule not, 4% just to be safe.

2. We are getting close to a recession...would work through that first and then retire on the other side of it when your investments are growing again. Any contributions you make during it will pay off big time in the end.

3. Someone told me $5M by age 50 is a good barometer for safe retirement. Not sure if that included real-estate equity or not...

Good luck!

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This is awesome, thank you! I will def hit 5m by 50. 🙏🏻

Do you want to retire now, and if so, why?

I am not feeling fulfilled any more.... and stress seems too much to handle...

Do you have healthcare? That will eat up a good chunk every month until you are Medicare eligible.

No healthcare... but have an option of living in EU.

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Are you vested in Partner pension? If not, how much longer and how much will it provide? I am debating the same option, but I have 3 kids. My numbers are $10M in savings, almost paid for house and $300K annual pension. Plan to cut the cord soon. don’t why this still stresses me to think about retiring.

I like it, thank you! I will look into franchise turnarounds - does sound like fun!

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