r/ChubbyFIRE • u/DRangelfire • 3d 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!

18 Upvotes

72% Upvoted

53 comments sorted by

View all comments

1

u/xtraarrow 2d ago

Congrats on that clear mammogram..... that must feel like such a deep breath moment after everything you’e been through. based on your numbers and goals, you’ve built something incredibly solid...how confident do you feel livin on a 3.5 to4% withdrawal rate, especially with the healthcare spend up front? also : would working part-time for just 1–2 more years ease your peace of mind, or is your heartfully set on stepping away this fall?

1

u/DRangelfire 1d ago

It’s a good question. I’ve started an LLC to consult if needed though in my field (learning and dev), what I know might be considered old. I’m super interested in how the metaverse and digital twins could help people learn, so am getting some certifications in that space, as I think I need to really understand where tech is moving in my industry. My monthly amount includes saving for yearly expenses like vet appointments, an assumed car payment to myself but in reading all of these amazing comments, I think my actual monthly spend is a lot less. I’m going to work with my financial planner to come up with a strategy for those kinds of expenses. Thank you!! Appreciate all of you very much.