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I've been wondering this myself. At age 49, I stepped out of the rat race and started a business doing it for myself. I don't work that hard at it as I don't have a need for the big W2 I had in the past. Our house and cars are paid for and we are reshuffling some assets around for revenue stream.
Our Expenses I figure around $7K per month including.
Health Insurance: 1500 month
Property taxes: 450/mo
Electric/Gas/Sewer/Water/Trash 600/mo
Food/eating 800 month
Insurance (Life $166, Property $100, Cars $250) 516
Cell phone/cable modem/netflix/amazon 195
Property maint and Pool(done by myself): 300/mo
Gas and car upkeep: $500/mo
Vacations (amortized) $600/mo
I haven't included big ticket house items like HVAC which we will need in the new few years and car replacements, although I would love to keep our 05 Yukon XL and 06 Lexus GS DD's forever as we are happy with them.
The only wild card is my 14 year old daughters college education. We have about $120K stuffed away for that right now and it could eclipse $200K for undergrad, so I will still work until we know what that looks like.
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