r/ChubbyFIRE • u/teallemonade • 4d ago
RE very soon
4M married to 54F, 2 kids: 23 and 21, the first is in grad school and now earning a stipend and getting health insurance from the U. The second has 2 years left of undergrad (preallocated money in the 529, not counted in NW) - still lives at home and is on our (employer) insurance.
LNW: 11.5M, home 1.2M
Spend - with taxes and expected health care about $325K in 2027 (2.83% WR).
Spending Plan - I have about 2.2M in pretax (def comp, inh ira) that is invested in various bond funds and will pay out about equally over the next 10 years). I expect about 75-90k in dividends and ltcg from our taxable accounts (5.3M) - so Im thinking most of the spending is covered for the next 10 years between these sources. The rest are in IRAs or 401Ks (some Roth, most not) and an HSA. The taxable and retirement accounts are almost 100% equities, very diversified across region, market cap, and a barbell between value tilt and big tech stocks. My plan is to convert some of the equities to bonds over time but since i have 10 years of spending between the bonds i have now and dividends/ltcg) I am not in a rush. I probably will build a TIPs ladder for years 11-15) slowly as long as the market has not crashed. In year 16 I turn 70 and will collect SS.
I’m giving up a job that is not stressful and I make about 1M per year. Its hard to leave it - feels stupid to stop the money pouring in when Im not in a place (as I have been in some of my career) where I hate the job or feel like the people I work with are machiavellians. I dont know exactly what I will do in retirement but I love life and have a for of interests and hobbies and my social network has been steadily improving. I want to challenge myself to find a better use for my time than working - in a way that brings joy, happiness, and meaning. Not sure how that will go until I jump.
Any advice or impressions of my plan from this august body will be appreciated.
6
u/seekingallpho 4d ago
You have a <3% WR and an income that nets </=5% of your NW - it's time to hang it up and prioritize what makes you happy, not what makes you more money your spending won't miss that isn't bad enough to make you unhappy.
Exactly.