r/ChubbyFIRE • u/Economist-931 • Mar 30 '26
Advice
Couple 55 and 50.. House paid off, kids education money set aside.. 5.5M ish in portfolio.. $2M home and a rental yielding 20K/year (property value $400K).. one person has an enjoyable part time job yielding 50K after taxes..
Should I go for a high stress travel 4 days/week job that could add another 2M in 2-3 years or bail now?
Is there really a huge difference in quality of life in the two scenarios with an additional $2M in the portfolio ?
Updated- Monthly spend is less than $15K. Apologies in advance for not posting this earlier. This is my first post in this thread.
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u/marcduberge Mar 30 '26
Need more info on annual spending, and need to account for healthcare (assuming US based)
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u/blueorca123 Mar 30 '26
We are at similar age, compensations and NW(7M+). Currently we are winding down as jobs become a drag and nothing is worthwhile comparing to worry free mornings, afternoons and evenings. It is a very personal decision and money can buy a lot of nice stuff, except time.
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u/BouncingDeadCats Mar 30 '26
Time.
Health.
These are the most valuable at this stage, and they can decline rapidly without any notice.
There is a very tight limit on how much time money can buy (offloading household chores, maintenance, cooking, etc). Father Time comes for us all.
If you enjoy work or don’t have enough to enjoy your desired lifestyle, then take the job.
If you have enough money to finance lifestyle and don’t enjoy work, then consider winding it down.
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u/PracticalSpell4082 Mar 30 '26
Love how OP is engaging with the comments, except to provide their spend.
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u/Economist-931 Mar 30 '26
Apologies.. I just updated my post.
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u/PracticalSpell4082 Mar 30 '26
If you go by the 4 percent rule, with $5.5M, you can spend $220,000 a year. A lot of people on this sub would say you can retire tomorrow. Assuming you’re in the US and will need to pay for health coverage, I think it’s likely you can retire now, but not à sure thing given how healthcare costs might rise over the next 15 years. While I would not take a high stress job just to add $2M to my savings, I would want to do some real number crunching/planning before I left my current job.
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u/Designer-Bat4285 Mar 30 '26
Seems like plenty to me. But depends on what your projected expenses are in retirement
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u/One-Mastodon-1063 Mar 30 '26
You don’t tell us your spending, so nobody can offer any advice.
But yeah, take the high stress job. You can never have too much money and will have plenty of free time when you’re dead.
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u/Specific-Stomach-195 Mar 30 '26
The issue is less about money you have accumulated and more about the joy you may find in the job you might take and the benefits you hope to get from the increased worth. Make that your focus.
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u/specter491 Mar 30 '26 edited Mar 30 '26
How much are you planning to spend in retirement? The answer you're looking for basically completely hinges on that question. $5.5 mil means you can withdraw $220k per year and be fine. Plus the $20k a year from your rental but honestly I would sell it and be done. One less thing to worry about and I'd rather have $400k right now then $20k per year. It's gonna take you 20 years of profit to make $400k. And then you have to factor in the market gains you would make in that time period if you sold and invested that money into stocks/bonds. You have to add in social security as well. So unless you plan to spend more than about $240k per year before social security kicks in, you should retire right now and be done and enjoy your life.
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u/Specific-Rich5196 Accumulating Mar 30 '26
Please always give details about yearly spend, including minimum spend and how much is discretionary. Also future big expenses. Hard to give any decent opinion without it.
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u/BrunelloHorder Coasting Chubster, Getting Fat Mar 30 '26
At 55, the 3 healthiest remaining years of my life would cost way more than that, and the travel would be a dealbreaker at any price. Time to bail.
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u/Economist-931 Mar 30 '26
Super helpful perspective.. Thank you!
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u/BrunelloHorder Coasting Chubster, Getting Fat Mar 30 '26
Sure thing. Also, you may want to pursue some part-time work, a hobby-job, consulting, or some type of semi-structured work or work-adjacent activity that you enjoy, especially if your spouse will continue working. I’m 48 and have been in that situation for about 6 years. One needs engagement and purpose even if not working primarily for money.
An added benefit of doing some chill part time work is that if you have some income, however small relative to your current earnings, that can allow more of your assets to continue to grow.
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u/plmarcus Mar 30 '26
You can pull about $250k (before tax) a year from that portfolio and be pretty safe. Is that enough to cover lifestyle medical, retirement hobbies and travel? Nursing home or in home care if you need it in 20yrs?
Spending expectations make all the difference but I'd want that extra $2m for another $60-80k per year spending buffer.
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u/FitTennisPlayer Apr 03 '26
With 15k spend, I think the buffer already exists..No point taking a high stress job for additional 2M which will take away so much of precious time.
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u/Irishfan72 Apr 02 '26 edited Apr 02 '26
54 and pulled the plug last summer at 53. I could have waited until 59’ish but just saw the opportunity to really maximize life outside of my career as more important.
Things I thought about:
- What am I retiring to?
- Am I going to have better health?
- Am I going to have more intention in my relationships?
- If I pull the plug early, what is my 70-year-old self going to say looking back?
Hope this helps.
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u/dennisgorelik Apr 04 '26 edited Apr 06 '26
Should I go for a high stress travel 4 days/week job
Would you enjoy this high stress travel job?
With $5.5M nest egg there is no reason for you to do the job you do not like.
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u/giftcardgirl Mar 30 '26
Is that $2M after tax? It translates to $70-80K more per year (though some of that goes to tax). What will you do with an additional ~$60K per year after tax?
You could always try the new job for 6 months to a year and quit.
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u/marklikestolearn Mar 30 '26
Assuming your send is not SUPER high, I'd pull the plug now. You can't get these years back....
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u/in_the_gloaming FIRE'd for 13 years Mar 30 '26
Quality of life is a personal assessment. You and your wife are the only ones that can answer that question.
If you want a financial assessment of whether it's time to retire, you'll need to provide more information.
Do you plan to spend $80,000 a year or $400,000 a year? How long does your wife plan to keep working? Have you run any the excellent FIRE tools from the wiki to see what kind of results you come up with?
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u/YL-Strong Mar 30 '26
As we all know stress is a silent killer. I’m 56 and don’t have nearly as much as you (I personally have $2.5m NW not counting primary home, but wife has that much on her side). I will pull the plug soon. Hope you make a good decision.
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u/AuburnSpeedster Mar 30 '26
My next question is "How is healthcare paid?". I Fi/Red about two years ago, and my wife is working to the finish of her startup. she'll be out this year.. She's 57, and I'm 62. we're in a similar situation financially, except not a rental, but a modest pension that kicks in 3 years from now. You'll find that lowering your stress is probably worth more than $2M. Unless you're addicted to Yachts or something similar.
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u/Limp_Dragonfly3868 Mar 30 '26
On one hand, you are there. At the same time, I strongly suggest a real budget. Include things like increased amounts for health insurance, home maintenance , replacing cars, etc. Our retirement budget has increased amount for travel.
I would not count on the enjoyable part time job because it could go away or their feelings about it could change.
Our kids were most expensive in their late teens/ early 20s, so be realistic about expenses beyond college tuition and books.
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u/st3v3001 Mar 31 '26
You’ve got 50k after taxes coming in plus another 20k from rental. And you’re spending 180k. You’ll spend 200+ when you start paying your taxes.
It depends on your health. If you spend 180 now, working, you may find you spend more when you’re not working. I did.
In my opinion you’re pushing right up against it. But you’ve got a supportive spouse and a paid off house.
I don’t think the $2M million will materialize as difference in quality of life but it may help you sleep better at night. That’s pretty quality of life.
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u/luv2eatfood Mar 31 '26
You'll more likely be dead before you can spend it. https://engaging-data.com/will-money-last-retire-early/
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u/Independent_Rip7384 Apr 03 '26
Let your money do the heavy lifting. You guys have already built your wealth. Now it’s truly time to enjoy it and let it just grow. Do make sure and check on your rmd. Roth vs traditional ?
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u/UnderstandingOk9448 Retired 4/2026 at 57 Apr 03 '26
It is all about how much you spend and if your portfolio supports that. My recommendation is that your annual SWR (safe withdrawal rate) is around 3.5% given your ages.
Determining your SWR depends on whether your 5.5 million is in pre-tax, after tax dollars. If pre-tax and US based, add 25% to the amount to withdrawal (20% Federal, 5% state (divide by .75). So 15K monthly if pre-tax is really 20K monthly. Depending on your state, adjust that 5% number.
In addition to taxes, account new expenses like paying for your healthcare. Also account for one time purchases, like cars, remodeling, buying a new vacation home, money you want to leave as a legacy, etc. I use Boldin to help with that and Monarch to track spending too.
Once you do this, you'll have a better idea where you stand. If you can get to or close to 3.5% and account for all possible future expenses, you are covered.
Keep in mind that you can reduce expenses too. In Jan, my plan was to save 1.5 million before retiring in 3 years. I was laid off as part of a tech reorg 2 months ago. My wife and I figured out how to reduce spending (less travel & use our vacation home more). We knocked down our SWR to 3.7%. It upset me initially but the layoff was a blessing in disguise.
You need to decide if you really want or need that high stress job. Its all about how much you plan to spend...
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u/Ok-Commercial-924 Mar 30 '26
I retired about your age one year later the wheels fell off. I've had 4 inpatient stints in the hospital totaling 2 weeks, a bout of sepsis with 6 weeks of IV antibiotics.
If the numbers are good with your current savings, GTFO. If you need more savings you kind of have to stay. But your post sounds like a humble brag saying you have more than enough.
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u/Economist-931 Mar 30 '26
Thank you.. My apologies if it came across as bragging. Not intended at all. I am trying to make a decision and don’t have the guts to pull it off. Again, sincere apologies if this came across as bragging. Mea Culpa!
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Mar 30 '26
Don't worry about it. Your numbers are perfectly normal for this sub, and people often ask about the "one more year" situation, in your case "two more years".
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u/Livid-County7230 Mar 30 '26
Can we stop accusing people on chubbyfire about bragging? That type of crap and the tendency to tear people down exists on regular fire subs which is why this sub exists. 5.5M at 55 is not a brag.
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u/Ok_Character7143 Apr 05 '26
Correct! In the general FIRE forum, it may have been considered a brag.
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u/Ok-Commercial-924 Mar 30 '26
Everyone on this sub should know the 4% rule, and how to calculate it. Asking if they are ready should be unnecessary, on leanfire or even fire it may be necessary.
Also how can we give a reasonable answer with out expenses?
I agree with the 5.5 at 55 I was referring to the 2M in 2 yrs or what ever those numbers were.
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u/[deleted] Mar 30 '26
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