workspace10,Here are my responses to your questions
I am 49 and will retire at 62
1) What is your gross income? $ 50,000
2) What is your annual savings/investment? $ 1.7 mill my own and $ 2.3 mill inheritance - all invested in index funds or indiv stocks (mostly mag 7)
3) What is your current annual expense? I spend about 15k per year
I am very thankful to my father for what he left me....
I just bought a new car with all the safety features to replace my 12 year old camry
"I am 49 and will retire at 62"
Please explain why that is true. Your portfolio is 4 millions and out earned your job many times. Don't you have better things to do with your life than working?
My older brother and older sister early retired at 49 years old.
"indiv stocks (mostly mag 7)"
Get rid of all your individual stocks. You have "enough". Why gamble with money that you cannot afford to lose? Your income and annual savings is not enough to replace any possible losses. 4 Million = 80 years of your gross income.
KlangFool
Statistics: Posted by KlangFool — Tue Jan 14, 2025 5:29 pm