Hello Community,
I'm planning on potentially leaving a high paying job at the end of the year. At that time, my wife and I will have around $650,000 in index funds (taxable account) and $120,000 in high yeild savings with $750,000 in our 401k/IRA's. Our home and cars are paid for. We have no debt. Our annual expenses are around $160,000, but I anticipate that going down to $125-$130k when I resign. Certain expenses related to work and transportation will be cut dramatically. I'm mid 40s and so is my wife. We have a kindergarten aged child. I plan on taking off 2 years prior to considering generating earned income. My wife has the ability to substitute teach, which generates about 10k annually.
Looking for any input from the community members that have FIRED at any level: Coast, Barista, Regular Retire, Fat Fire. Looking for feedback on both the technical and emotional side.
Thanks in advance!
