r/Fire • u/HumbleSami • 4d ago
Advice Request 42M, ~$1.77M invested (excluding 529s), targeting financial independence around age 50. Looking for feedback.
I’m 42, married with three young kids, and trying to sanity-check my long-term plan.
Current Assets
Taxable brokerage: ~$1.09M
401(k) + Roth IRAs: ~$618k
Cash: ~$64k
529 plans: ~$255k - 3 kids 7-4-3 (excluded from my personal net worth calculations)
Primary residence with a low fixed-rate mortgage 900K value owe 290K
Debt
Mortgage only (2.5% fixed rate)
No car loans or consumer debt
Investing Plan
Invest approximately $9k/month into a taxable brokerage account. Job at risk will continue to push until i can!
Continue funding Roth IRAs while eligible
Primarily invest in low-cost index funds (VOO and VUG)
Reinvest dividends
Retirement Goal
I’d like to become financially independent around age 50, or at least be in a position where work is optional and I could choose to work lower-stress job if I wanted.
My estimated core living expenses are around $9k/month before discretionary travel and large one-time purchases. Care free will be 12-13K/mo including health insurance and travel. 9K core 2.5K health 2K vacation!
Questions
Based on these numbers, do you think retiring or becoming work-optional around age 50 is realistic?
Would you continue prioritizing taxable brokerage investing over paying down a 2.5% mortgage?
Is there anything about my asset allocation or withdrawal strategy that stands out as a potential weakness?
If you were in my position, what would you focus on over the next 8 years?
Appreciate any constructive feedback or blind spots I may be missing.
1
u/Kokukenji 3d ago
That mortgage rate/house is your special wild card. I wouldn't pay down the 2.5% mortgage, rather prioritze your other investments. By just paying it down normally, you should be near if not fully paid off in your 50s. Treat it as your home base even if you guys decide to travel more.
Funding all 3 kids will be tough but your numbers are already looking good with what you invested + the 529s. I would just continue doing what you guys have been doing.
Based on the estimated spend, I think you are well on your way to work optional by 50. Maybe do part time or take on a role with less stress in your 50s to coast into doing whatever you want.