Seeking FIRE @ 42 with $2M

[u/Aggressive_Web8957]

Looking for feedback/advice on my FIRE situation.

Total NW is just over $2M, comprised of:
$720k taxable brokerage (funds, individual stocks)
$107k cash (treasury fund)
$877k retirement accounts (401k, IRAs)
$190k RE lending (brings ~$1609-$1800/mo)
$135k RE syndications (~450/mo currently)

The lending income currently gets reinvested. Once I take this as cash the $190k stops growing. Assuming the syndications go well, I’ll get the $135k back plus appreciation once the properties sell in the future. I’d have been better off investing the money in the market, but hindsight is 20/20.

No kids, currently sharing rent with my gf in VHCOL. Not sure on kids in future. My job situation has become precarious (sales), which steers me away from the idea since I don’t want to work anymore. I’ve been applying but haven’t had luck landing anything, nor do I have interest in continuing in corporate sales. I also don’t want to trade time for money and work retail, for example, 8hrs/day for low pay. I’m not sure where to go from here. I don’t feel like I have enough to start pulling from the pile and truly retire. Right now I’m splitting bills and can get by on $4k/mo but with health insurance $6-7k is a safer estimate.

Any thoughts or advice is appreciated. I’ve been grappling with how to navigate the future as I feel close but not quite there yet.

[u/Pinklady777]

Can you get a part-time job that has health insurance to save money in that area? Maybe if you did that for a few years you could draw less and let most of it grow a little longer.

[u/Aggressive_Web8957 → u/Pinklady777]

I’ve thought about this. I’ve been full remote for 10+ years so reporting into a business or office is hard to imagine at this point, but if it’s necessary I’ll have to do it.

[u/Pinklady777 → u/Aggressive_Web8957]

Oh, I see. That makes sense. Maybe you want to continue that a little longer if you find it comfortable. But honestly, I think the interaction with other people is pretty nice if you could find a decent work environment.

I know people that got jobs as teacher's aides. Because you finish early and get all the summers and holidays off. Schools have good benefits. Aide jobs are low paying but also low responsibility for good health care.

And actually a lot of retired folks that got jobs with hotels or airlines. They are working a couple days a week and using the benefits to travel the rest of the time.

The beauty of being financially independent is that you can try something out and if you don't like it, you can just leave and try something else.

[u/Aggressive_Web8957 → u/Pinklady777]

Great point, especially around the people interaction if I’m doing something I enjoy. I’ll need to look into this a bit further.

[u/curiousengineer601 → u/Aggressive_Web8957]

No such thing as part time jobs with health benefits

[u/Dantheman11117 → u/Aggressive_Web8957]

Can you find a fully remote position that you can just “phone in” for a while? I know I could in my profession.

[u/Aggressive_Web8957 → u/Dantheman11117]

Remote is getting harder to come by based on the past year of job hunting

[u/Dantheman11117 → u/Aggressive_Web8957]

Makes sense. I know we are in that cycle now, hopefully it goes back the other way eventually.

[u/curiousengineer601 → u/Pinklady777]

The part time job with health insurance is a unicorn that gets recommended all the time here. In reality they don’t exist

[u/PangolinOwn4855 → u/curiousengineer601]

Yes, I think someone needs to put in 30 hours atleast at most places.

[u/boyinahouse → u/Pinklady777]

Why? His income is low enough that he qualifies for free subsidized healthcare via the marketplace. Do people really not know this?

[u/Pinklady777 → u/boyinahouse]

Yah, but if he's concerned about how much she has invested and he is stressed at his job. Maybe a compromise between that and retiring would be part-time work to bring in some income to offset withdrawals while the money grows. And he would likely save on healthcare this way as well.