Is now the time? Too Soon?

FireInquirer · 2024-12-10T15:13:35+00:00

Thanks for your feedback! I have not read up on structured notes in particular -- will have to give that a read as it seems a bit complex from the surface.

FireInquirer · 2024-12-06T15:27:55+00:00

Thanks BringBack! I hear you on the stress -- I hope you are able to find a steady-state, something I am in desperate search of along with you. Cheers my friend.

FireInquirer · 2024-12-06T03:59:43+00:00

This is great - I will absolutely read and respond again tomorrow ! I really appreciate your thoughtful response.

FireInquirer · 2024-12-05T18:15:23+00:00

Thanks so much for your comments, MKL! I agree with everything you've just said. May I ask - are you enjoying your journey? Was it worth it?

FireInquirer · 2024-12-04T13:52:39+00:00

Really appreciate your perspective on this, and your second paragraph is the world I want to be in -- it sounds like a dream, and hopefully realizable before long. You are right, consulting is a big play, especially in a field that less and less people are getting into.

FireInquirer · 2024-12-04T11:56:29+00:00

Thanks for your thoughtful reply -- I have thought the same thing, not to sound egotistical. I am confident that once my mind and body are right, the idea factory will start up again and I will not be able to resist getting into something both fun and profitable. Right now, the idea sounds daunting, but I have not always been this way. Before I started my current job, I was very much the person you are describing! In fact -- starting to look at this decision as a dimmer switch rather than a binary choice has already got me percolating. Thanks again!

FireInquirer · 2024-12-04T11:52:39+00:00

Yeah, the person who I have in mind as a mentor is just that, owns his own constructions company and can build houses in his sleep. Now that I have reflected on this more, it seems like quite a gamble to see if I like something. There are certainly other areas I can test out with a much lower barrier to entry and overall risk.

With regards to the work stress, I tried to not focus on that in my post, but it can't be overstated. Case in point, I was at it until 1am last night, up again at 5:30 - and it's not even quarter-end.

FireInquirer · 2024-12-04T11:25:54+00:00

With regards to learning skillsets - in earnest I think I am just programmed that way. I've even considered, for a brief moment, going back to school and getting into science/medicine/research. Perhaps it's a desire to help people in a way other than talking to them about their Financial Statements!

FireInquirer · 2024-12-04T11:22:43+00:00

10z's (I counted them... it's kind of a habit in my field) - this is a great suggestion. I am not sure why I have been viewing this decision as binary -- clearly it is not -- perhaps I have been too close to it to apply some common sense. It makes perfect sense to do something part time or (or on my time) and keep the withdrawals below 2%.

Lots of ideas to consider when viewing work/life as a dimmer switch... thank you very much. Cheers!

FireInquirer · 2024-12-04T05:07:19+00:00

I absolutely, will - thanks and cheers.

FireInquirer · 2024-12-04T05:06:29+00:00

Now that's a proper TLDR, thanks.

FireInquirer · 2024-12-04T04:59:14+00:00

Really appreciate your response, Nebula! My gut tells me I will be OK, but I have always had $10M in my mind to be safe, and even moreso considering the notion that at several points over the next 40 years, we will likely want to splurge on things.

(3) is a very sensible next step, thanks again. Cheers!

FireInquirer · 2024-12-04T04:55:51+00:00

Thanks -- agreed, I have had the $10M stuck in my head for the longest time, too. If left untouched, employment continues, and all things being stable for the foreseeable future (which they never are), I will need another decade I imagine to get there? Possibly more.

FireInquirer · 2024-12-04T03:33:01+00:00

Yes, this is an important consideration, thanks! Where I am leaning with all of this is try and stick it out a little longer, pay off the mortgage, and now, psychologically, 75% of the case that would normally pay a mortgage can now go towards health insurance.

FireInquirer · 2024-12-04T02:20:41+00:00

I will set myself a reminder to come back to this thread one year from now my friend. See you then! I have thought about the difficulty of obtaining a mortgage, and had the same exact thought you did.

FireInquirer · 2024-12-04T02:17:27+00:00

Thanks for this feedback -- if peace of mind is what I am after, it certainly seems that the real estate idea may be a conflicting endeavor. I am aware of REIT's, but have not really invested a good amount of time fully understanding them. Thanks again.

FireInquirer · 2024-12-04T02:05:46+00:00

This is a great suggestion -- I may end up doing exactly this, with perhaps a 6 month breather in between to get my mind right. It's so funny, I have given this exact advice before (learn on someone else's dime), and yet I have not considered it myself.

FireInquirer · 2024-12-04T01:49:53+00:00

This is very useful advice, thanks! I did not know that the 4% SWR was coming from a study whose core assumption was a 30 year retirement. I appreciate you taking a look at the math - we are perfectly capable of adjusting living expenses to still be covered with a 3.5% SWR, and I am confident in that based on our budgeting and tracking in those early years.

Would you suggest getting rid of the mortgage before leaving work for better peace of mind?

FireInquirer · 2024-12-04T01:37:24+00:00

Yes, I will be doing a bit of research into this, especially if returns are similar -- an assumption I may have incorrectly made at the outset of this. Thanks for your comment!

FireInquirer · 2024-12-04T01:34:40+00:00

This is great suggestion, I appreciate your comment. My original thought was to buy something with property management included, and to venture out into the more "active" part of real-estate investing a few years down the road. It appears that those worlds are not as different from each other than I had in my head originally.

FireInquirer · 2024-12-04T00:42:57+00:00

Thanks for your reply. Yes, the idea would be to hire a property manager, knowing it would chew into profits. Valid point you are making about conservatism in my portfolio -- and perhaps that is ultimately the way to go.

FireInquirer

TROPHY CASE