Hello everyone,
I’m trying to decide to either retire now or work til 40. I’m 37 years old and not passionate about my job at all. Only thing that makes my job tolerable is my 6 figure salary.
I have the following assets 1) Currently 401k $275,000 2) Traditional IRA $35,000 3) Taxable brokerage account $300,000 4) Cash $130,000 5) One rental property paid off generating 1200 a month worth $170,000 6) My primary resident is paid off worth $300,000 which will be rented out for 1500-1700$ a month.
I don’t have any debt currently but I did bought a new house with my fiancé and we just had a baby. The house will be built by November. We will have a mortgage and house expenses about $1500 each. We keep all our fiancés separate and split all cost 50/50. She also has done well for herself and make a good 6 figure salary and no debt. If I retire I would go under her health plan when we get married.
Few things that make me want to retire now is that I want to spend more time with my daughter and help my dad battle his cancer.
My hobbies are traveling the world with my family which I fund with being savvy with credit card points. I don’t foresee myself spending more than $4000 a month.
My personality is that I do always worry about tomorrow and not having enough money. This is probably due to the way I was raised. I would say I’m very frugal with my expenses. Giving up a salary is a scary thing and I would like to know others thoughts.
Question is should I retire now or grind it out til I’m 40? If I was to work til I’m 40 where else should I invest my money beside to the vehicles I have been investing in?
Thanks !
Submitted September 22, 2020 at 10:25PM by ashahoss https://ift.tt/3cm20gO
