Life Situation: Married, Filing Jointly. I am 24, my Wife is 26. We have no Children and will likely adopt when suitable.
Gross Salary/Wages: $190,000 Pre-Tax
Adjusted Gross Income: $200,000 Pre-Tax
After-Tax Income: $135,000
Current Expenses: $30,000/year (we keep it low)
Debt: $0
Assets: Around $100,000 (6 Cars, Many Car Parts, etc)
Cash: $25,000
Investments: $275,000
- LendingClub: $86,000 (I know, I know, I am scaling out, but have had solid returns)
FundRise: $27,000 (Again, scaling out, but have had solid returns)
TSLA: $70,000 (Primarily ESPP, Some RSU, WAS doing well…need to scale out)
Betterment/WealthFront/Vanguard: $80,000 (Approx $25k Roth IRA’s)
Silver Coins: $13,000ish
Net Worth: Approx $400,000
Plan: We have mutually decided that we do not enjoy our jobs and we want to move to the Dominican Republic to live out our dreams of being on an island with great people and great food. We are frugal and we live simple. We have furry children but no actual children. We do plan to adopt 2-3 children in the future. Expenses in the DR are significantly less than the US. I figure if we have managed to live off of $30k in the US (MA, nonetheless), we can manage to live off of $20k/yr (or less) in the DR.
cFIREsim shows a 95% Success Rate with initial Portfolio Balance of $500k and Inflation-Adjusted Spending of $20k/yr. I am not expecting any other income (Social Security, etc).
As soon as possible, I am planning to sell all of my remaining assets and invest in more index funds/ETF’s. The rest of my investments will be trimmed and moved into index funds/ETF’s. Over the next year or so we are planning to invest another $100k or so, bringing our total Portfolio value at this time next year close (or to) $500k.
My question is, does this seem viable? All of research says yes, but I still fear the unknown. This may seem crazy to some (admittedly it does to me too haha), but I have been saving for this for years and am closing in on actually making it happen!