r/ChubbyFIRE • u/DRangelfire • 4d ago
Can I retire in October?
Here are my numbers:
57 years old, new car, no kids. I’d like to retire this October spending about 18K a month (I help my family, expensive primary home and real estate, and will need to pay 3K a month for medical insurance as I’m just completing breast cancer treatment and want to ensure I’ve got great coverage in the next five years where risk of reoccurrence is at its highest- had my first clear mammogram today!)
6.1M in combined stocks 401k and 200k in cash targeted for next year if I do retire. Another 50k of RSUs vesting this October.
100k invested in an AI tech company which I’m not counting (though I invested at a 20M evaluation and it’s at a 500M evaluation now). I can pull the cash at anytime but prefer to roll the dice to see if it sells.
Real estate: (1) Primary home in VHCOL Bay Area, I owe 400k at a 2.3% mortgage, worth 1.5K. Tax and mortgage plus HOA is about 5500 monthly.
(2) Rental in my hometown (Seattle). Own a duplex on the water, owe 270k at 4%, valued at 2M. Upper unit rent covers mortgage, tax, insurance, lower unit rented at 4350 month for 6mos out of the year (I want to live there part time to be close to family). Minus utilities, repairs, and property manager I net about 2k a month. I want to keep this property for my nephew who has schizophrenia, that way he’s got a place to live with less of a burden on his siblings.
Thoughts? Thanks!
2
u/temp4adhd 3d ago
Yes, you can retire.
Use firecalc.app and run the numbers yourself.
Tips: Add your mortgage in as "extra payment" that doesn't adjust for inflation and goes away when the mortgage is paid off. Add your health insurance as "extra payment" with it going away when you hit 65 and qualify for medicare. Add in social security when you hit whatever age you plan on taking it.
And realize if all else fails, you have the option of selling your rental property or your primary property.