What is the retirement model to consider if one has an income that equals one's monthly expenses? Wifey and I both love our work and would keep at minimum one day a week, which would defray all our living expenses (about 80k/year). With no debt, an owned home and 529s funding each child's higher education, how does one model retirement?
We own a million-dollar home outright, and in about 3 years will have another million in our accounts.
If the work we wish to keep covers costs, could we actually retire on the $2 million?
As self-employed inds, we can increase or decrease work at will, and are in demand in our fields. So none of this is indelible.
I'm 45, she's 35. Lots of time. But I'd like to get out of the game and read every book on my shelf, take my family to a cabin in the woods (that would rent for much cheaper than our house would for the summer), and just be free. Isn't that what we're investing for? Time?
Thanks in advance.
We own a million-dollar home outright, and in about 3 years will have another million in our accounts.
If the work we wish to keep covers costs, could we actually retire on the $2 million?
As self-employed inds, we can increase or decrease work at will, and are in demand in our fields. So none of this is indelible.
I'm 45, she's 35. Lots of time. But I'd like to get out of the game and read every book on my shelf, take my family to a cabin in the woods (that would rent for much cheaper than our house would for the summer), and just be free. Isn't that what we're investing for? Time?
Thanks in advance.
Statistics: Posted by myartman — Wed Jan 24, 2024 11:42 pm — Replies 0 — Views 44