Early retirement?

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My plan is to semi-retire once the kids finish college (somewhere around age 55). I will still work 20 or so hours/week so that I can live without dipping into savings.

After far as plan to only spend $7k/mo in 15-25 years.. with inflation of 2%/yr $7k/mo now = $9.4k/mo in 15yrs and 11.5k/mo in 25yrs.

I spend about 25% of my income on my mortgage so the key is really to get the house paid off. House paid off + no kids to pay for should mean we don't need as much take home income. Of course when I'm my 50s health insurance might cost more than the mortgage!
 
bones said:
Speaking of money and retirement, here's a list of highest paying jobs at Google. Not sure how accurate it is since its via glassdoor and also includes no bonuses. Top person is the finance director at $300kish.
http://www.businessinsider.com/highest-paying-jobs-google-2015-2?op=1
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Did you see the one from Apple?  Quite the contrast!

I actually really enjoy going to work.  My reason for retirement would be merely to lessen the stress load in my life and wake up not stressing about completing x, y, and z within a given timeframe.
 
glassdoor doesnt account for stock options/RSUs very well.  25% of my W2 income is RSUs and i work for a high tech manufacturing company.  my friends in software companies have 50-80% RSU income.
 
rkp said:
glassdoor doesnt account for stock options/RSUs very well.  25% of my W2 income is RSUs and i work for a high tech manufacturing company.  my friends in software companies have 50-80% RSU income.
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Ya. Agree. Those numbers seem low to me but I've never worked for the googles/apples of the world. Also seems low to afford a "middle class" being in the Bay Area.
 
i1 said:
With no mortgage and kids expenses paid for, I think you need $3mil to retire, in today's dollars. That lets you draw 90-100k per year for insurances, prop taxes, hoas, vacations, etc. SSI would be a bonus.

Also if IUSD damaged your kids earnings power, might have to put aside extra for that.
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you are assuming there is no passive income coming in.  if someone had passive income of 100K, then they wouldnt need the 3mil in your example. 

for us its not about retirement so much as ability to not work for long periods of time.  when monthly passive income ? monthly necessary expenses + monthly luxury expenses, we will pull the trigger.  goal right now is bringing expenses down while bringing passive income up
 
This is the Irvinehusky recommended "minimum" guideline.  :P  This is assuming your income is at least $100K.  If less, the multiple has to be higher.  If you make a mil a year then obviously you can lower the multiple.

55 - 20x

60 - 25x

65 - 30x

Disclaimer:  Do as I say, not what I'm necessarily doing.  :P
 
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