I have been incredibly grateful to the boglehead community for spot-on advice over the years. If you will indulge me with a "retirement check-in" I would greatly appreciate it.
Ages: 47, 42, 6, and 4
Employment: me - 750-800K/year, spouse - 240K/year. Employment is moderately unstable, long hours, and high stress. I'm at the top of my field and unable to make more than I currently am making.
Location: Very high cost of living area (VHCOL).
Expenses: 60K/year childcare, 20K/year schools, 120K/year food, taxes, healthcare, travel, home repair, everything else.
Primary home: $2.25 million, mortgage-free (modest and relatively small; neighborhood is astronomically expensive).
Investments:
Retirement: $2 million (of which 400K is Roth)
529 plans: $330K (Target date matriculation fund)
Taxable investment accounts: $900K
I-bonds (emergency fund): $225K
Cash (awaiting withdrawal from business): $200K
Total net worth (exclusive of home) ~$3.6M. Total net worth with home: $5.8M
Investment philosophy:
To reproduce the Vanguard Target Retirement 2030 fund asset allocation across all accounts except 529 plans; this includes 37% US stock index, 27.2% Total bond US index, 24.2% Total international stock index, and 11.60% International Bond index.
My plan:
To hammer at this job for as long as feasible, which is likely 1-3 years more, and then retire. Childcare costs will go to 0 upon retirement, and a 3% planned withdrawal rate will need to sustain us. My spouse may linger at her 240K/year job for a few years afterwards, maybe not.
Any suggestions on how to optimize this plan, ideally without selling the house?
Ages: 47, 42, 6, and 4
Employment: me - 750-800K/year, spouse - 240K/year. Employment is moderately unstable, long hours, and high stress. I'm at the top of my field and unable to make more than I currently am making.
Location: Very high cost of living area (VHCOL).
Expenses: 60K/year childcare, 20K/year schools, 120K/year food, taxes, healthcare, travel, home repair, everything else.
Primary home: $2.25 million, mortgage-free (modest and relatively small; neighborhood is astronomically expensive).
Investments:
Retirement: $2 million (of which 400K is Roth)
529 plans: $330K (Target date matriculation fund)
Taxable investment accounts: $900K
I-bonds (emergency fund): $225K
Cash (awaiting withdrawal from business): $200K
Total net worth (exclusive of home) ~$3.6M. Total net worth with home: $5.8M
Investment philosophy:
To reproduce the Vanguard Target Retirement 2030 fund asset allocation across all accounts except 529 plans; this includes 37% US stock index, 27.2% Total bond US index, 24.2% Total international stock index, and 11.60% International Bond index.
My plan:
To hammer at this job for as long as feasible, which is likely 1-3 years more, and then retire. Childcare costs will go to 0 upon retirement, and a 3% planned withdrawal rate will need to sustain us. My spouse may linger at her 240K/year job for a few years afterwards, maybe not.
Any suggestions on how to optimize this plan, ideally without selling the house?
Statistics: Posted by phisher4 — Mon Nov 18, 2024 6:55 pm — Replies 7 — Views 893