My initial plan was to save like mad (which I have been doing) for another 10-15 years and retire around 50. The plan seems great, and on paper it works well. The issue is, I don't want to work for 10-15 more years, at least not 40 hours/week in my current job.
My alternative, tell me if you think I'm crazy or where there are holes.
I have a child with a pre-existing condition, so for me this wasn't a real possibility until the ACA came out. Also, the government subsidies actual make it better for this situation.
I plan to get my retirement accounts to $250k and then stop contributing, with the thought that they will grow, and I will not touch them for the next 15-20 years. (I also have $120k in home equity as an extra cushion and 0 debt).
During this time, while my retirement balance is sitting in Index funds and hopefully growing at 7%, I plan to work part time doing a job that I enjoy. Because I will be making ~40k, family of 3, with government subsidies, my silver plan (which matches what I have currently) will be only $214/month.
I currently make about 105k / year, so taking this huge pay cut seems crazy at first, but b/c most of it is going to retirement any way, I am only living on about 40k. So, I can afford to work way less, which I don't want to stop working, I just want to cut back and be able to take more time off for family and travel.
Kind of a long post, but I'd love to know if anyone has done or thought about something similar.