My wife is a top-level person, and argues constantly against their policy decisions... Every friend and ally she's ever had has left the company and she's the last one left of the original crew she started working with.
She was really hoping to retire here in a year or two anyway. She's not really interested in looking for another job. I keep telling her she can quit now, that the stress isn't worth it. But she's worried about our finances. She thinks she'll just end up waking up every night at 4:00 am anyway, but now worried about money.
Help me convince her that we're okay.
- House is paid off.
- Monthly basic expenses (food, insurance, property taxes, utilities, phones, gas, fun) =~$3500 a month
- We also spend about $12,000 a year on traveling. She doesn't want to give that up, so that's another $1000 a month.
If I got laid off, I could easily find a job with a take-home pay of $5000 a month (I'm in IT - there are jobs)
- $600,000 in tax-deferred accounts - Total Bond Market ($425k), Total Stock Market ($75k) Total International Stock Market ($100k)
- $250,000 in taxable accounts - Total Stock Market
50% bonds/50% stocks (stocks are roughly 75% domestic/25% international)
- Daugher is a junior in college - $40k set aside for her in bank account (we spent about $17k a year the last two years, so that should be plenty to cover the last two years)
- Son is 9 - $30k set aside for his college in I-bonds
- $50k in the bank as an emergency fund.
Calculations show that if we can make 5% (nominal) on our money, even at the lowered saving rate, we should have the $2 million in 14 years... I need/want to work for 12 more years anyway until my son is out of college.
We will have 3 kids getting married someday (I assume), and new (used) cars, and we'd like to buy a boat someday soon. Roofs will need to be replaced, and furnaces repaired. There will be expenses not accounted for up above.
Can she quit and never work again? Or will money be too tight?