Personal Investments • Can I retire and how to withdraw money

You can retire if you do the following:

Sell your rental properties, pay the taxes and invest the proceeds with your cash and stocks. With your 401k, IRA and taxable investments that gives you $7M+ and the pesky real estate out of the way.

Then sell your house, pay off your mortgage and use the $2.5M equity to pay cash for something more reasonable. Both kids will be out of the house soon. Think ahead and downsize. Invest what’s left.

Now you’ve got no mortgage, a paid off house and $7+M in investments. You’re at about a 3% withdrawal rate even before you’re done with tuition. You retire, put the kids through college, and sail off into the sunset.

I retired last year on about 450K. Trick is to travel lightly in this world.

Statistics: Posted by thedaybeforetoday — Wed Jan 17, 2024 6:15 am — Replies 4 — Views 595