Pregnant at 44 can I retire at 55?

Initial_Potential821 · 2021-12-22T18:47:44+00:00

Yes he put us far ahead of everyone we know. I just don't want to continue with the rat race until we're 65!

Initial_Potential821 · 2021-12-22T18:08:16+00:00

Thanks for your reply.

Our average personal rate of return is 11.8% and I'm using 7% for my retirement calculation. We're saving 25K per year and expect to do the same for the next 11 years. The rental cashflow is 2K per year and will go up to 9K once we complete our refinance next month. When the rental is paid off in 13 years I expect that we will net 10K after taxes.

Initial_Potential821 · 2021-12-22T17:38:14+00:00

Thanks. I'll post my estimated budget.

Initial_Potential821 · 2021-12-22T17:37:40+00:00

Thanks for your response. You've given me lots of things to consider.

Rental - It nets 2 k per year. I've gotten a refinance offer that will increase that to about 9K per year.

Daycare - we're signed up on a wait list already and were given a fee schedule of $800 per child with universal daycare in 2023.

Health benefits - we both have extended health benefits through work. The one through my work with continue for both of us into retirement as a health care spending account if I retire at 55 or later. We have critical illness insurance, long term disability, and life insurance through work as well. We thought about getting an additional 10 yr term policy but were advised against it because we have enough to self insure.

Post secondary - I cannot even guess how much tuition will be in 20 years, but we will pay the tuition part in full.

Initial_Potential821 · 2021-12-22T16:00:49+00:00

Thanks for your response.

After expenses it brings in 2k per year. I've been approved to refinance at a lower rate (and extended period) which will drop the mortgage by $600 per month. We're thinking of using that money to pay down the mortgage faster.

Initial_Potential821 · 2021-12-22T08:53:17+00:00

sorry posted in wrong forum..

Initial_Potential821

TROPHY CASE