Help Me Retire: I’m 53 and hate my job. My husband, 59, and I have two homes, plus $1 million in savings. Can we afford to retire?

by | Dec 1, 2023 | Stock Market

Dear MarketWatch,  I’m 53 years old and my husband is 59, and we have three children. I make $160,000 a year at my one job, which I hate, and I bring in between $22,000 and $27,000 from my secondary job, which I love. My husband is self-employed and makes between $150,000 and $250,000 a year. We have $100,000 in dispensable funds

We’re currently investing approximately $70,000 per year. We have $1 million in retirement funds, a mixture of IRAs and mutual funds along with some tech stocks. We have two homes — worth $1 million and $750,000. We have a $100,000 mortgage between the two. I’m the primary insurance carrier. Insurance is my biggest fear, to be honest. We provided $100,000 to help our oldest child to purchase a home, and we would like to do the same for our other two children once we sell one of our houses. I have a pension of $50,000 a year when I’m 62, if I leave in a year, but that will increase by $3,000 for every additional year that I stay at my primary job. My husband will likely turn his business over to two of our sons and will collect some residual money from it. Most likely, w …

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[mwai_chat context=”Let’s have a discussion about this article:nnDear MarketWatch,  I’m 53 years old and my husband is 59, and we have three children. I make $160,000 a year at my one job, which I hate, and I bring in between $22,000 and $27,000 from my secondary job, which I love. My husband is self-employed and makes between $150,000 and $250,000 a year. We have $100,000 in dispensable funds

We’re currently investing approximately $70,000 per year. We have $1 million in retirement funds, a mixture of IRAs and mutual funds along with some tech stocks. We have two homes — worth $1 million and $750,000. We have a $100,000 mortgage between the two. I’m the primary insurance carrier. Insurance is my biggest fear, to be honest. We provided $100,000 to help our oldest child to purchase a home, and we would like to do the same for our other two children once we sell one of our houses. I have a pension of $50,000 a year when I’m 62, if I leave in a year, but that will increase by $3,000 for every additional year that I stay at my primary job. My husband will likely turn his business over to two of our sons and will collect some residual money from it. Most likely, w …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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