I've been reading MMM and the forums long enough to know that my plan should work, but somehow I feel that I need confirmation. Short story here: By the end of next year, we should have around $680,000 plus a condo in a great area that we love that's paid for. I'm a workaholic, and I love my work, so I don't anticipate retiring, but we currently live overseas and it's time to go back for many reasons, including parents that are getting older. I anticipate that we will not be able to get full-time for back home, and I'm okay with that.
It's difficult to calculate your budget when you're living in a different country, but according to my calculations (I do know several costs and I've been tracking summers for the last two years and have done extensive research), I think that we can easily get by with $29,000, including taxes. However, I'd prefer to have a buffer for a few reasons, but partially because I am not able to anticipate all expenses. So I'd like the option of $35,000 even though every single budget I've hypothetically created does not come close to that.
4% of 680,000 is 27,000, but I anticipate that we can easily make $10,000 between two people, and in ten years, we will have $10,000 in pensions. Between two of us, we have about five small pensions which will slowly accumulate after that, and all of them are pretty secure, so I think if we can generate $25,000, we're fine. Plus, we're very flexible.
The plan is to move back mid-2017 (maybe 2018) and then ideally work part-time until the pensions arrive. So, dear strangers who I don't know yet I strangely trust, what flaws do you see with this plan? It seems so obvious that it should work, but am I missing something that is glaring?
Thank you so much in advance.
