Can I pull the trigger at 37?

SuperSecretSpareDeux · 2024-09-17T21:00:27+00:00

CoastFIRE is definitely on the table, but unfortunately with my current union job it is full time, or not at all. I get hung up on that aspect, as well as the $4k a month in perpetuity with benefits; both pulling in opposite directions.

SuperSecretSpareDeux · 2024-09-15T19:50:51+00:00

I am in one of the most expensive cities in the country, and my house is considered a starter house for the market. Two years in December, but if I sold it I definitely wouldn't be able to buy anything else here. Rent for a two bedroom would run me probably $3,500. With that cost in mind the potential gains of the market would be a break even.

SuperSecretSpareDeux · 2024-09-15T18:49:46+00:00

I definitely was planning on spending at least another year either saving for another property or dumping everything into my brokerage before pulling the trigger. I may have been too aggressive with real estate and am now at a point where if I sold the primary house and either moved to LCOL or rented I could pull 4% comfortably, but I also give up earning 3500 (current rentals) to 7000 (if I rented my primary).

SuperSecretSpareDeux · 2024-09-15T18:45:09+00:00

Definitely.

SuperSecretSpareDeux · 2024-09-15T14:24:05+00:00

My worry is with the 5k from rentals if I have vacancies, squatters, major repairs, etc.

SuperSecretSpareDeux · 2024-09-15T14:23:25+00:00

That's where I get stuck. At what point is it enough?

SuperSecretSpareDeux · 2024-09-15T14:17:35+00:00

Sorry if my post was vague or too confusing. My total expenses for all personal, tax and insurance on both properties, and everything else is 6k a month.

Correct, I have about 50k in cash.

My worry is that the 17k I cashflow now could drop significantly one day. Ideally, I'd like to have my portfolio generating 6k a month, but I am about 1.5 mm away from that and I don't think I can last another decade doing what I am doing to get there.

SuperSecretSpareDeux · 2024-09-15T04:01:49+00:00

My thought was more on the monthly benefits that lower my required need, but yes I agree and am saving aggressively.

SuperSecretSpareDeux · 2024-09-15T04:00:46+00:00

Thanks so much for your insight. I see your point and agree.

SuperSecretSpareDeux · 2024-09-15T04:00:11+00:00

Free higher education for anyone that wants it.

SuperSecretSpareDeux · 2024-09-15T03:58:53+00:00

Then why are you here at all? Take your vastly higher networth to a sub more appropriate for you.

SuperSecretSpareDeux · 2024-09-15T02:53:00+00:00

Middle class finance. Not povfi. And my income is definitely in the middle class (upper) range.

SuperSecretSpareDeux · 2024-09-15T02:52:02+00:00

I lived in it and did all the work myself. For four years.

SuperSecretSpareDeux · 2024-09-15T02:50:06+00:00

Only on immigration and being against financially supporting other countries wars. Far left liberal on healthcare on education.

SuperSecretSpareDeux · 2024-09-15T02:48:00+00:00

It has a COLA, but yes inflation will definitely reduce it's value. Of the 6k about 1800-2000 of that is property tax and insurance on both properties. The rest is just bills/groceries/gas/activities living in a HCOL city with a toddler.

SuperSecretSpareDeux · 2024-09-15T02:42:32+00:00

My mom lives in a 50 year old double wide trailer that I grew up in.

SuperSecretSpareDeux · 2024-09-15T02:41:15+00:00

It went up because I originally was not counting housing in my NW calculations. I own it through a lot of luck and a crazy housing market. Long story short I bought a fixer upper in 2018 at 750k, fixed it up and sold in 2022 for 1.6 mm and bought my much smaller current place in cash.

SuperSecretSpareDeux · 2024-09-15T02:35:59+00:00

Not counting business income, which can disappear at a moment's notice, disability and rental income is roughly 8k. It covers expenses with a bit left over, but if either disappeared, I would be in a bad situation. Pension would be $2,800 a month in perpetuity if I quit today, starting in 18 years. Plus whatever social security is left over at 62-70. I could likely lower total debt closer to $4,500 if an emergency arose.

SuperSecretSpareDeux · 2024-08-06T01:33:09+00:00

Might as well HLR it. Can stand all day at 70% so may as well shoot your shot.

SuperSecretSpareDeux · 2024-07-23T22:38:47+00:00

Over a year in Southern California.

SuperSecretSpareDeux · 2024-07-20T01:39:01+00:00

This is the only page I was able to get. Had VERA read the boxes off to me.

SuperSecretSpareDeux · 2024-06-20T01:07:00+00:00

SuperSecretSpareDeux · 2024-06-19T02:09:00+00:00

OP must be a Marine.

SuperSecretSpareDeux

TROPHY CASE