If I owned a $1M home (unless maybe it was a dump on a $990k property) the last thing I'd do would be rent it out for the summer, but I'm sure there are people who would do that.What is the retirement model to consider if one has an income that equals one's monthly expenses? Wifey and I both love our work and would keep at minimum one day a week, which would defray all our living expenses (about 80k/year). With no debt, an owned home and 529s funding each child's higher education, how does one model retirement?
We own a million-dollar home outright, and in about 3 years will have another million in our accounts.
If the work we wish to keep covers costs, could we actually retire on the $2 million?
As self-employed inds, we can increase or decrease work at will, and are in demand in our fields. So none of this is indelible.
I'm 45, she's 35. Lots of time. But I'd like to get out of the game and read every book on my shelf, take my family to a cabin in the woods (that would rent for much cheaper than our house would for the summer), and just be free. Isn't that what we're investing for? Time?
Thanks in advance.
Statistics: Posted by tibbitts — Fri Jan 26, 2024 8:53 am — Replies 17 — Views 1438