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if you had about 200 k in Roth, about 90 k in vtsax in a brokerage and 15 k in money market in brokerage acct and 90 in trad Ira and 400-450k in home equity.
If sold, almost instant millionaire. 50 yo.
Would have to find place to live (have some options) No debt other than a rental that is occupied.
Annual expenses ideally 60-70 k.
Just looking for feedback from the mind hive!
AmandaIf your house is a townhouse or some other kind of strata, I’d sell it.
A single family home- probably not.SeanSelling your home won’t raise your networth it will lower it.
StaceyI sold my house, moved onto a boat. I like having the chunk of change, and it opens my life up to nomadic travel which is engaging.
BillIf you would rather rent, sure, sell the house. Don’t do it just to hit some arbitrary number on a sheet of paper through.
In terms of strategy, I’d be maxing out traditional retirement accounts now.
Virtually all your money is post tax now.
NicNot sell house. Or maybe downsize??
Keep working contributing to assets.JuliaI would keep working and saving until my FI number is reached without accounting for my primary home.
I have seen way too many seniors living on $500 rent for years and then their run down apartments are sold to be demolished and all rent elsewhere is upwards of $1200 and they can no longer make it.
LoriI’d stay put and keep working. Contribute to some accounts with more of a tax advantage.
You’re always going to have housing expenses.
Downsizing is an option, but I wouldn’t want to have to pay rent in retirement.
MaggieThat’s not enough to retire at 50…. You’ll run out of money when you’re too old to work.
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