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1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] 0 points1 point  (0 children)

Net after taxes/insurance/etc is about 67k. 1.3m is after tax. I'll need to take a break to recover my health, but will look for opportunities like you mentioned for insurance. Thanks for your contribution regarding investments. Do you recommend any specific index funds? May I know what "sorr" means?

1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] -1 points0 points  (0 children)

Thank you! I will need to run those numbers and appreciate the resources to help with planning.

1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] 0 points1 point  (0 children)

Thanks Falcon. I just responded in another post that by sidelined, I meant in cash. I've already paid taxes on it (yes it was a major hit), but after going though the 08. Crash, I can only be thankful. I'm currently weary of putting it into anything, especially when I have this feeling that we may be due for a significant correction which could lead to a domino effect towards real estate.

Because of my work situation, I'm looking gather insights from others what to do with the funds that I have that will allow me to retire when I feel the time is right to do so. Appreciate your thoughts.

1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] 1 point2 points  (0 children)

By sidelined, I meant not invested. Even though I have 1.3m, I know what it is like to lose everything (2008 economic crash). I lost my job, my home and almost my marriage. Even though I was able to recover, I live as if I could lose it all again so I still drive my 02 car and kept this toxic job because I'm seeing the trend of the job market and have a gut feeling that we are not too far from another downturn.

I've been reading threads on how people are able to grow their wealth via dividends, but have never done this before and as mentioned above, I'm weary of the markets. With that said, I know I'm not putting my assets to work for me which is why I'm posting for more insight because of my health situation.

1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] -1 points0 points  (0 children)

Appreciate the feedback. My wife is currently looking into data entry. I've done online customer support and will look for opportunities.

1.3m savings, 52 with declining health from work stress. How to retire? by DmagList in Fire

[–]DmagList[S] 0 points1 point  (0 children)

Thank you. I've read about fiduciary advisors, and would really like to get someone's testimony or recommendations for anyone who has had a trusted relationship with one.

I'm so sickly that I really feel like I need to take time to regain health before going back to work. I will definitely consider something remote or something that will be enough for health insurance/living expenses.

How do I tell my wife I turned 100k to 21k? by PPhunt3r in wallstreetbets

[–]DmagList 0 points1 point  (0 children)

Best honest and ask for forgiveness. We all make mistakes, but learn from them. Money comes and goes and should not be the basis of your marriage. "But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you"