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Originally Posted by 74-911
The biggest issue you will eventually face is "what am I going to do today?". At your age you can expect to live 30-40 more years. From my personal experience, you w'ont miss the work but you will very probably miss the daily interaction, BSing, etc with co-workers. Traveling gets old eventually.
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Precisely correct: I never plan on not working...I'll either make the farm profitable (there are lots of opportunities), continue with my main business or up my volunteer hours. Or a combination of the three. My father (79) still works about a week a month with his consulting gig, travels extensively and also volunteers as a math tutor.
His mix of work, vocation(s) and avocation(s) is ideal and one I am working towards.
Quote:
Originally Posted by Dottore
IMO those are pretty slim numbers on which to consider retirement. I know your neck of the woods is much less expensive to live in than where I live—but still.
Keep in mind too the coming inflation. Those $250K in liquid assets could start to look a lot less very quickly.
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I had the same thought. Your key would be to have enough principle to live off the interest/dividends, etc. with a 50% margin after expenses and taxes. I know that is ambitious, but it is a good rule of thumb.
Is there anyway to take a six month sabbatical/leave of absence and return to your jobs? A good six month cleansing may be just the tonic
In any event, all the best and good luck.