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Vtsax vs fxaix?
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This is not a financial question, based on the information you have provided. $700k income and $6k monthly spend is a pretty easy math problem to figure out...you're probably good. This is a psychological and relationship question.
Do you want to keep working or not? Is your SO/spouse ok with you not working? If the answer is no to the first question and yes to the 2nd, do it
I agree… I was going to say the same thing… OP’s spouse could harbor resentment towards them… eventually you’ll have an argument and that little dig will come in… that’s when you know how they truly feel…
Personally, I would get a job in the new city… work for a couple of years… and then pull the trigger…
I'm in this same position, like exactly. I had a conversation with my SO about when WE want to fire. No fun to do it alone. We settled on another 7 years and pull the trigger at 45. Obviously will re evaluate as we go.
We are waiting to quit together only because all the house tasks will then fall on my wife and she doesn’t want to be a home maker.
I just quit (wife/mother) and kept majority of home services that are cheaper than how I value my time - being grounded, pursuing my interests/hobbies, volunteering, reading all the classics, constantly learning and working on low pressure but high upside revenue streams.
I think this will be more valuable to my family than house labor identity. Obviously a privilege to afford but was important to us after back to back babies and corporate burnout.
We plan to live off spouses finance career until we can coast fire at 40.
It always seems weird to me when people say they FIRE’d, but they have a working spouse. Under that logic, my spouse FIRE’d a decade ago, but no way either of us would consider her retired. In terms of whether you work, I’d consider what you would do in the alternative and what your household goals are.
Does this assume that you won’t be touching the $1.5M and expect that to keep growing?
Subject Expert
I would begin by making a spreadsheet with some projections for different options.
Then I would show the spreadsheet to my wife and ask what she thought.
And what I would suggest to her would be that we both keep working until we can both retire together.
How comfortable are you living on $1.5m of the marriage doesn’t work out and you have a career gap?
Good question, career gaps seem to be the kiss of death in the current market.
Please keep working. And be married before you go tonthe new city. Make sure the 1.5 million is spent and documented as to where it went becuase in 10 to 20 years when hubby cheats on you or wants out you will want to be able to get the support you need. Also is this a town where you have familly? If you don't make sure to have a spending saving retirement insurance equal to what your SO will have wether you set that aside and don't spend and let him catch up or yoi both put equally into all of those accounts. Your consequences will be much more devastating for you if you don't prepare for yourself and your children. You will be destitute and you won't have retirement funds.