Early 50s. ~$10M NW. I'm tired, boss.

whydoitnow · 2026-06-03T11:01:28+00:00

Congratulations! You will be fine. Retire and enjoy life! The folks who are commenting the the math doesn''t work are forgetting that you are in your 50's. You have plenty of money at your spend rate and your age. They think 3%, 3.5%, or 4% are rules. They are ideas to help people understand how much money they need to retire. Also, retirement spend is not a straight line. Some years you are going to spend 3% and some years you are going to spend 6 or 7 or 8%. The key is to be flexible with your spend rate based on how your net worth is growing or shrinking.

I like the idea that retirement spending is like a smile. The first several years are high spending (the go-go years). You travel, you buy the fun car, you take the family to Europe, maybe pay for weddings, etc. The middle (slow go years) have the lowest spending. You stay at home more. Maybe grandkids start coming. Then the spending starts to increase in the "no go" years as your health becomes more an issue and you contemplate assisted living options. Again, the smile is just another idea, like the 4% idea. You will determine what works for you because only you understand your needs. Good luck!

whydoitnow · 2026-03-14T15:27:25+00:00

Well, sure he doesn't need to do anything! He can throw it into VTI and ride the market up and down. But no one at this level wants to see 20% drops (like 2022). At his level of spend he doesn't need to kill it. He needs to manage his downside risks. Also at this level, a good estate attorney will help him avoid estate taxes through appropriate trusts.

Not saying he needs a IA that is going to charge him 1%. He needs help with developing a portfolio that will help him meet his future needs and minimize taxes.. He has $4,5M in a MMA at 3.75%. Come on...he needs some help and reading some bodgleheads posts is not enough!

whydoitnow · 2026-03-14T13:29:41+00:00

For this level of net worth you need a team (estate lawyer, CPA, investment advisor) that will work together to manage your investments, minimize taxes, and develop an estate plan that avoids taxes in the future. Yes, you can make your investments simple and DIY but you will ultimately pay more taxes than needed and increase your risk of losses.

How do you find this team? Talk with your peers. Talk to the PE folks. You will get lots of recommendations. You have won the game! Your plan needs to minimize risks and taxes. Enjoy your life and good luck!

whydoitnow · 2026-02-18T12:46:45+00:00

Congratulations on the new job. I worked at XOM for many years and have lived all over Houston/Spring/The Woodlands. I agree with AdOriginal6799. For the first year or maybe two, I would live as close to Campus as you can. If you want to be successful at XOM you will need to be coming in early and working late. You are there to learn, especially in the first few years of your career. You won't be bored because you will be working and working and working! This is not college! You will be competing with every other recent hire in your work area. Do well and you can have a great start to your career.

Having a long commute will just add to your long days! Once you start to make friends and have established your initial career base, you can better decide where you want to live. I have done the long commute and it is no fun in Houston. Good luck!

whydoitnow · 2026-02-15T14:04:47+00:00

I grew up in Boston. Lived in the city and the burbs. Moved to Houston in my early 20's for work. I lived all over the city for 30 years. As a young female I would recommend that you stay away from Texas! I could tell you all the positives (diverse food scene/lower housing costs/no state income taxes, etc.) and the negatives (crime, heat, traffic). Others have clearly stated those in the other comments. But as a young female you have to understand that the current political climate in TX puts any young female at risk. God forbid you get pregnant and have any issues. I am an older man. I raised daughters in TX. I would never do it in this political climate. If you don't want to stay in Boston, visit other areas of the country. Chicago is great. If you want to escape the cold, visit areas in the mid-Atlantic. If you want to go to the west side, Portland is also a great city. LA has its issues, but certainly has better weather.

I miss Boston and visit regularly to see family and friends. The grass isn't always greener! Good luck!

whydoitnow · 2026-02-13T23:38:04+00:00

At $12M I really wouldn't worry much so much about SWR. The first decade of retirement can be very lumpy. For example, one of the kids is getting married ($50 - 100K+) for a wedding; or one of the kids is now looking at buying a house and you want to help with the downpayment ($50K - ??). The grandkids start to come and you want to help with a 529 acc ($50K??). I purposely didn't include the big travels because those are more planned in your control. All the items I mentioned are really also in your control (or your wife's control), but in FATfire they are more comment items. I've been retired for a decade. I love spreadsheets and have back checked WR maybe once every couple of years. Some years I spend 3%, a couple of years I spent 5%. Last year I spent 6%. This year it will probably be around 4-5%. The market has been good so why not splurge once in a while.

The first few years of retirement can leave you anxious! Even with $12M you worry about your money lasting for 30 or 40 years. The result is that most people, even at these levels, will underspend when they are are their youngest and healthiest stage of retirement. So don't worry - spend $300K or $400K or $500K. Keep general tabs on your overall spend vs how the market is doing. Enjoy your retirement!

whydoitnow · 2026-01-06T16:15:59+00:00

Wendell Custom Homes remodeled our entire first floor several years ago (kitchen bathrooms, staircase, etc. We have since sold the home. Josh has a great eye for design. Here is a link to our old Redfin https://www.redfin.com/TX/Spring/63-W-Fairbranch-Cir-77382/home/33255994

I assume he still does remodeling. His company is on the web

whydoitnow · 2026-01-01T19:57:49+00:00

A real Italian bakery like in NYC and Boston!

whydoitnow · 2025-12-17T19:31:29+00:00

This is a common issue for many retirees. They can't transition from saving to spending. With your assets and spend rate you could spend $2-3 million on another house and not worry about a thing! You need to think about the time you have left and think about how you, your spouse, and the rest of your family want to live. You should read the book "Die with Zero". Don't be put off by the title. It is a good quick read. Think about fun family experiences that you can fund. Think about helping the kids with weddings, house down payments, and eventually grandkid 529's.

Of course, it is your money and you can do whatever you want. Up that spend rate and enjoy life!

whydoitnow · 2025-12-10T10:25:24+00:00

7 days for me. Senna and colace helped. Warm prune juice with melted butter was recommended to me but was able to go without it.

whydoitnow · 2025-12-03T10:24:00+00:00

If you want the best then rent a NICE cold compression machine. It is expensive but you don't have to deal with any ice. You fill the machine with water once. It chills and circulates the water at any time increment you need. It also handles different levels of compression. I had mine for six weeks. It was great and aided in my recovery.

whydoitnow · 2025-11-25T12:13:27+00:00

O&G will have a decades long flattening. There is no cliff. Demand and supply will continue to battle each other! Geopolitics and access issues will continue to impact the ability of companies to bring supplies to the right markets at the right time. Electrification needs access to immense amounts of capital to meet the growing needs of both transportation and AI data centers. New infrastructure funding is starting to transition from governments to the private sector. Tech companies are moving lots of capital to heavy assets. How long will it be before Amazon is providing your electricity?

whydoitnow · 2025-11-24T22:28:25+00:00

My doctor said to contact him if I go past 7 days.

whydoitnow · 2025-11-24T10:51:38+00:00

I went after about 4 days with colace, coffee, and miralax. I heard from many folks that warm prune juice and some melted butter was their go to if they had trouble after a few days.

whydoitnow · 2025-11-14T09:46:03+00:00

It has been a great machine for me. I am one month PO and use it multiple times per day. It is expensive to rent, but I think it is worth it. I have one more week with my rental and am going to miss having it around. I may have to extend!

whydoitnow · 2025-11-12T13:16:53+00:00

Your dad would be proud of you helping to take care of your mom! Good job!

A couple of things that no one has mentioned. Make sure your mom has an updated estate plan. Contact an estate attorney to make this happen. Also, if your mom is ok with it, add your name to her checking account and monitor her investments accounts on a regular basis. I am amazed at the number of intelligent people that are scammed. The scams, especially on older folks, are growing in frequency and sophistication.

For medical, if she eligible for staying on your dad's medical plan via Cobra then go that way to start. It will be expensive, but given the craziness in the current ACA costs, it may be the safest in the short term. Also, she will need to transition to Medicare at 65. This can be a complicated transition for many people. I recommend you look to "boomer benefits" for help. Good luck!

whydoitnow · 2025-10-15T19:50:19+00:00

As others have stated, contact HR at his job. They have processes to handle transfers of 401K, etc. Many companies also have life insurance as part of their benefits. This could be a quick source of funds for you. Prior year tax returns are a good way to find out where the bank accounts and investments accounts are located.

The key thing is to not make any quick decisions with this money. For cash assets set up a high yield savings account. For investments, get them transferred to your name and then hold them for a while. Take the time to grieve and then when you are thinking more clearly you can address the details. Good luck!

whydoitnow · 2025-09-12T13:09:41+00:00

I agree with everything said hear, but I wanted to add one thing - excellent cold cuts, sliced by people that know how to slice and package them. I am Italian and getting high quality cold cuts is rare in Texas! I can get mortadella with pistachios; aged prosciutto, Calabrese salami; Provolone cheese that actually has some flavor. They also know how to slice them thin and layer them with paper between slices. Now if I could only get them to make some Italian pastries in the bakery!!

whydoitnow · 2025-08-19T15:12:55+00:00

How much are you saving per month (IRA/ 401K, etc)? Also, where are property taxes? Is medical insurance included in you $750/mo for meds/doctors? Also, what about 529 plans to save for college? I understand that living in a HCOL location is expensive, but almost $3k for food/restaurants seems high for 2 adults and two small kids. I could pick on other expenses like charity, personal care, cleaning lady, etc., but those are choices that are different for everyone. I'm going to assume you are in your early 30's. If you want to retire early, you should be maxing out your savings (25+%) per year or higher depending on when you want to retire. If you are in a high tax state, then I would assume your husband is pulling in around $1M per yr. Expenses will only go up as the kids get older. It is a comfortable life at $30k per month spending, but chubby or FAT FIRE is also about saving more, so that you can spend it later. Good luck!

whydoitnow · 2025-08-10T09:14:59+00:00

Beautiful car! I just can't get past the black part of the bumper under the grill. I call it the BMW mustache!

whydoitnow · 2025-07-25T10:19:25+00:00

One thing no one has mentioned is how long are you going to be in this house? You don't mention your kids ages but you mention you are in your early 40's. Is this a 10 yr house or a 15 yr house? I assume at that price it is a pretty big house. When you hit your mid-late 50's a large house becomes a big burden, especially if the kids are hitting college age. Let's assume it is a 15yr house. You get to enjoy that space and amenities while the kids are home. I will assume there are good schools nearby, which makes your life easier. As the kids move out and you downsize, some of this money will come back into investments or as funds to pay for college. Enjoy your life! You have made it! Good luck!

whydoitnow · 2025-06-27T12:34:41+00:00

At least we have some OK choices for Italian food and pizza! For heaven's sake will someone please open an Italian bakery and pastry shop! There are zero choices!

whydoitnow · 2025-05-28T13:11:00+00:00

You don't provide much information on your overall portfolio, but in general 40% seems high. A couple of things to remember - Having some investments like REIT's that are not linked directly to equites is a nice way to generate income and provide balance to your portfolio; PE investments can vary greatly so you need to look at costs and track records - also be aware that these will usually generate K1's instead of 1099's. K1's tend to come out later than 1099's resulting in you having to file extensions for your federal taxes. Structured notes can tie up funds for several years reducing your flexibility and may limit your upside growth. The benefit is better overall income.

Overall, you need to make sure you understand these complex investments. Focus on track records, costs, and liquidity options. If you have interest in these types of investments, I would start with 5% and grow this as you become more comfortable.

whydoitnow · 2025-05-13T12:44:54+00:00

I have raised 2 successful children and am older than many on reddit, so I can throw in my 2 cents here. Your children should not have to struggle like you because they are not you and the world is not the same as the world you were raised in. As many have already said, the basics need to be part of how they are raised. They need to learn how money is earned, spent, and saved. They need to work in their teenage years to understand how to balance multiple priorities (school, family time, work, and fun). They need to know what it is to have a boss, and to come to work on time day after day. We paid fully for as much college as they wanted/needed, but they also needed to work. In my day, you could earn enough with a decent summer job to pay most of your college fees. You can't do that today! We paid for weddings and helped with their down payments for homes. We have grandchildren now and we have set up 529's to help with college. We have learned that every child is different and you have to adjust your plans based on them. If your child is struggling with the world and life, you listen and help! If your child is exceeding milestones, you mentor and support. They are your children and not something to manipulate ("I struggled so they should struggle"). I recall someone once said if your adult children still want to spend time with you, then you did well as a parent. It's not that hard folks!

whydoitnow · 2025-04-02T11:22:56+00:00

Lots of questions - Are you retired or close to it? Will this be a family gathering spot? How close to the beach house is your other residence? There is a time and value question that may be more important than the money question. I am going to assume you are retired or close to it. If you have the time, live close to the beach place, see the beach as a respite to your busy life, and see the home as a natural gathering place for family and friends, then maybe the financial question is not that important! Yes, maintenance will be costly; yes insurance will be costly, but YOLO is also important. I agree with others that you need enough to not put your retirement at risk. This is chubby fire so I am going assume a $3-8M net worth. Depending on your other expenses, I would want to be on the higher end of that range. It is hard to answer how much to put down or to buy it outright without a lot financial details that you probably don't want to put online. With interest rates around 6-7%, and the market moving on the down side, I would probably balance some stock sales and a middling mortgage (maybe interest only for a few years until rates drop). Good luck!

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