I call this a "light" case study because I'm not going to get super-detailed on my expenses. All figures annual.
Income:
$180,000 salary
~20,000 bonus
30,000 dividends
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$~230,000 total
Current expenses:
$16,900 mortgage P&I
11,500 property tax
1,000 hazard insurance
10,000 play money
20,000 other fixed expenses
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$59,400 total
Expected ER expenses:
$ 6,000 property tax
1,000 hazard insurance
5,000 (or less) health insurance (high deductible)
10,000 play money
20,000 fixed expenses
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$42,000 total
Assets:
$1,500,000 taxable investments (Vanguard)
605,000 primary residence
43,000 taxable investments (Schwab)
212,000 401(k)
45,000 Roth IRA (Schwab)
21,000 Roth IRA (Vanguard)
560,000 private stock in employer's company
30,000 vested options in employer's company
22,000 vehicles (mini pickup and subcompact car)
30,000 cash (checking)
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$3,068,000
I also have about $110,000 in unvested options I would lose immediately if I leave the company. Excluding the stock and options in my employer's company, I have at 80/20 split in investments between stocks and bonds. I have followed all of Vanguard's recommendations on which types of asset classes to hold in my various accounts. My total portfolio expenses are around 0.16%, maybe a bit less.
Liabilities:
$304,000 @ 3.875% mortgage on primary residence (358 payments to go)
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$304,000 total
So, I'm 45 years old and have a net worth of $2,764,000 which is 46 times current expenses and 65 times projected ER expenses. I don't particularly enjoy my job and, in all honesty, my employer would be better off with a more motivated person. I used to enjoy my job quite a bit, but as the company has grown from a startup into a $200M/yr company, my enthusiasm and ability to deal with corporate politics has run out. As it is, my boss lets me get away with murder because I was salaried employee #2 (not including the actual founders). I'm only required to be in the office a few days per week and "work from home" the rest of the time. I live 2 miles from work which makes it easy.
My plan for ER is to sell my current home and move to a similar home in a much less expensive neighborhood. I believe I can accomplish this by simply rolling the sale proceeds into a cash purchase thus leaving me completely debt free.
My biggest fear is that I wouldn't be retiring to do anything in particular. My only hobbies are Coursera, cycling, videogames, and watching sports. I'm amicably divorced and at this point I'm not at all interested in dating...maybe later. I love being in exotic locations (for a while), but I abhor air travel, so I don't really travel much now or plan to travel much in the future, except perhaps road trips around North America.
Specific questions:
Am I an idiot to keep working?
How hard is it to sell a house and move to a new house? I've only moved into a house once.
Thanks for reading!