My age 50, husband 60, 1 child finishing up junior year of high school.
Gross Salary (including bonuses and stock)--$700K
Within the last couple of years, we both nearly doubled our income, having moved from smaller companies to a big one that is wildly overpaying us.
Tax-deferred savings: ~800K
Taxable savings: ~1.4 million
Total: 2.2M
College savings for our child: ~260K (not included in savings above)
Paid off home worth ~650K (we stayed in our "starter" home.)
Rental Income: ~25K/year (not included in gross income above).
Am likely to inherit mortgage-free real estate worth ~800K.
No debt at all.
Spending: ~120K/year (we live in a high COL area).
Includes travel, clothes, food, home improvements, and pricy summer camps.
We could cut this down, but I don't really want to.
We're currently shoving about $300K/year into savings, including employer 401K match. When our incomes doubled, we didn't much change our lifestyle very much, so we have a big surplus every month. We are invested with moderate to low risk: mostly index funds with some cash, bonds, and long-term CDs. Would like to hit 3 million in a couple years from now and then retire. The job is fine, but I'm pretty tired of it. Have been doing it what feels like a long time, and am eager to develop different talents. That said, it's tempting to stay where I am and keep being lavishly overpaid like a spoiled lap dog.
Specific Question: How much should I worry about health insurance now and into the future? I'm currently healthy, but my DH is receiving high-cost treatment for a condition. We currently have excellent insurance through our employer. I see in the news that the justice dept is trying to mess with Obamacare's preexisting condition clause, and I'm starting to worry.