[USER]

I’m really frustrated at work and I’m about to call it. This is 2 years earlier than I had planned however.

We can retire right now based on assets and monte carlo simulations.

I’ve encouraged my spouse to hang them up as well, but it sounds like they will continue to work until mid next year.

Then potentially do consulting selectively thereafter.

As I’m thinking through all of this something has dawned on me.

Even though we have a networth just over 8-figures, I have hesitancy with calling it quits.

We’re basically at peak earning potential and we spend quite a bit as well.

I think what will help is that we have some rental income coming in where I feel “it’s okay to spend this money,” vs. funds from stocks/bonds.

While we get dividends/interest from the stocks/bonds, all of that is reinvested.

I don’t want to sell anything either to incur any type of capital gains.

The rental income on the other hand isn’t easily reinvested so I’m more comfortable spending that.

Also the rental income isn’t even close to replacing our current work income.

Definitely a mental aspect to all of this.

Those of you who have retired early, how do you get over the hump of relying solely on your investments?

Answers to questions people will ask:

Both of us are early 50s

1 elementary school aged child

Essentials expenses: (mort, taxes, insurance, utilities, etc) annually probably ~$80k

Non essential expenses currently: ~$200k probably

[Dané]

Wait am I reading this right… your total yearly expenses are 280k!?

[Sean]

Networth is useless for Fire. But if you’re saying your cash and stocks/bonds are 10 million plus, then you’re good.

[Kassandra]

200k in non essential expenses? Wow. What are you buying? If you can’t spend that amount can you be happy?

Maybe try livng off the rental income for a couple of months before quitting.

[Amy]

Call it! Retire! And if you are worried about money, decrease your expenses to “things”. Keep vacations.

Life is short.

If you have 8 figures, you can definitely make it work.

Maybe take some time contemplating what messages you were told as a child about finances and, if negative, try and challenge them.

[Steve]

They’re not just your prime earning years, they’re your best years left.

Unless something you’re doing is going to 10x your quality of life, it’s not worth doing once you’re able to FIRE.

[Jenny]

My dad retired at 53 yrs old…not even a fraction of your net worth (mom was a SAHM)…they’ve travelled the world many times over.

Just retire and enjoy life.

If you’re not sure about it, speak to an accountant.

My parents found one & he ran scenarios for them so they could decide if my dad could retire

[John]

So you’re pretty much right at 4% right now. $7m+ in non-primary home assets and $280k in expenses.

That’s 4%.

If you are willing to curtail your $200k discretionary spending during rough patches, you are good to go.

I understand the mental hurdle.

You are probably at a time in your career where you are in very high demand and you can pretty much name your price.

I’ll bet if you just pushed through for a few more years, you could be at $15m NW easy, right?

Problem is, none of us are going to make it out of here alive.

So, it comes down to a choice between more money for your heirs and charities…… or your life.

Choose wisely.

[Rene]

As a mom, time with your child beats everything. Every time. You have plenty.

If anything get a teaching job or something later if you need it.

But enjoy what you can with your kiddo!!

[Mark]

u have a networth north of $10million and u arent sure if u have enough to retire. Are u F****ing serious with this

[Author]

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