Retire?
We have 500k left on our mortgage. ~2.5k a month Spouse has 1M. I have 1M. We keep our accounts separate. Monthly miscellaneous expenses: 1.5K How much does a good health insurance cost? It’s so difficult to find this answer online We are in our 30s Safe to quit?
How made million by 30
Worked 2 jobs for 2 years
I need wife like yours man
How will you feed the kids
I’d recommend buying a profitable business to cushion that early retirement.
Good idea
If it was that easy everyone would be buying "profitable business" lol
1.5k seems low for all other expenses. Insurance, utilities, phone cable, random home thing that needs fixing or replacing. Oh and food.
The FIRE people have equations for this.
Yes you can retire if you don’t want to vacation or buy nice things
How much money can you generate with your $2M? How much are your expenses? Does the $ you generate cover your expenses + health insurance + taxes while also growing to cover inflation over the rest of your lives?
Say 5% interest on 2 mil is 100000$/year. Whole fam health insurance is about 40000$/year, so you're left w/ 60. Taxes are about another 20. You got 40 left. After mortgage, you got 13 and that doesn't cover your monthly expenses. No, you can't retire yet.
Can't live in US Any third world country you can ball.
🤣
4% withdraw is 80k a year. They have 48k expenses. Mortgage locked in. Sooooooooo not sure why you think they can't make that work. I personally would take a passion project to have income to pay the bills and let the accounts keep growing. Can have close to 5 million in a decade.