Love this place, it has helped me tremendously over the years!
I am hoping I can get some BH opinion on where my wife and I are at financially with the goal of myself retiring in 10 years and my wife continuing to work, but likely scaling back at that time. We have a unique situation![:)]( "Smile")
I am 54, she is 37 and we have 2 kids - 1 and 3. Yes I am a late bloomer and still active and young and loving bein an older dad thus far! with her age, we need to make sure the retirement funds are not depleted once I am taking a dirt nap
I have some individual stocks but strictly VTSAX at this point is where I am putting my money.
My risk tolerance is pretty high - we are 100% stocks right now
Income: ( Both in tech sales, fairly established but our income can flex) 2023 was 995k, we should be consistently in the 700-900k range
me - 500-700k , her 200 - 400k
taxable: 1.4m (combined)
my 401k - 500k
her Roth 401k - 300k
Eth/BC - 100k
Rental Income: 5500/mo ( 750k in equity, I plan to keep this as rental income in retirement as we are in a healthy rental market, Scottsdale, AZ ) mortgage will be paid off in 2035)
SS at 67 - 3900/mo or so
Current Mortgage : 7000/mo, (1m mortg, 28 yrs left -
529 - both boys should be good by 18 with relatives pitching in and we are contributing 500/mo for each at the moment.
We are saving at about 20% right now and investing into VTSAX - 401k and taxable
Estimated expenses/mo in retirement - 15-20k, I am struggling to pin this number down as we are unsure how long she will work past my retirement date.
I have run the numbers some and 5m is my goal at the moment, and with her working past my retirement date we should have pretty good income cushion to not have to withdraw as much from our accounts initially.
thank you all!
I am hoping I can get some BH opinion on where my wife and I are at financially with the goal of myself retiring in 10 years and my wife continuing to work, but likely scaling back at that time. We have a unique situation
I am 54, she is 37 and we have 2 kids - 1 and 3. Yes I am a late bloomer and still active and young and loving bein an older dad thus far! with her age, we need to make sure the retirement funds are not depleted once I am taking a dirt nap
I have some individual stocks but strictly VTSAX at this point is where I am putting my money.
My risk tolerance is pretty high - we are 100% stocks right now
Income: ( Both in tech sales, fairly established but our income can flex) 2023 was 995k, we should be consistently in the 700-900k range
me - 500-700k , her 200 - 400k
taxable: 1.4m (combined)
my 401k - 500k
her Roth 401k - 300k
Eth/BC - 100k
Rental Income: 5500/mo ( 750k in equity, I plan to keep this as rental income in retirement as we are in a healthy rental market, Scottsdale, AZ ) mortgage will be paid off in 2035)
SS at 67 - 3900/mo or so
Current Mortgage : 7000/mo, (1m mortg, 28 yrs left -
529 - both boys should be good by 18 with relatives pitching in and we are contributing 500/mo for each at the moment.
We are saving at about 20% right now and investing into VTSAX - 401k and taxable
Estimated expenses/mo in retirement - 15-20k, I am struggling to pin this number down as we are unsure how long she will work past my retirement date.
I have run the numbers some and 5m is my goal at the moment, and with her working past my retirement date we should have pretty good income cushion to not have to withdraw as much from our accounts initially.
thank you all!
Statistics: Posted by Wildcat23 — Tue Jun 11, 2024 6:39 pm — Replies 0 — Views 44