Layout:
Home > Quick question for everyone

Quick question for everyone

January 21st, 2021 at 03:46 pm

Hi everyone.

Quick question. We all talk about networth on here.. and many of us have a very good networth. Much of my networth is tied up in income producing real estate and comparatively less in cash investments.  I feel 'less secure' with this model and am focusing now on quickly beefing up my investment/savings side. My goal is $750k. but if I set this goal I feel I am stepping back on the treadmill that I want so much to get off of.

Do other people feel the same?

What amount in savings/investments makes people feel financially secure.

I know it is technically related to how much our expected costs are, life expectancy. .but I am wondering if people on here struggle even when those appear to be covered?.. those who have used the FIRECALC and come up with no lines ending in zero.

How do you make that emotional decision that you are 'ok'?

I am rolling off my contract here 1/29 with no job lined up and honestly I want to take some time off and feel excited but also apprehensive to do so. 

Maybe not such a quick question but I welcome thoughts and opinions.

Rachael

 

5 Responses to “Quick question for everyone”

  1. Another Reader Says:
    1611247537

    It's called financial independence for a reason. In your case, cash is important because of the real estate. As long as your expenses are fully covered with a conservative estimate of net income and you have a cash cushion, I would be fine with taking six months or a year off.

  2. Stephanie Says:
    1611252424

    I'm not sure if I will ever feel secure. To be honest. I have retirement accounts over $1 million, cash and liquid investments over $300K and I still wonder if I will have enough for my husband and I to have a comfortable retirement. I can retire with a small pension at the end of March but I am petrified to pull the trigger. Oh Net Worth insecurity! Darn it!

    But with my level of assets, another person would be just fine. I guess that's the "personal" in personal finance.

  3. Petunia 100 Says:
    1611342972

    LateStart - what is the CAPE system? Thanks!

  4. terri77 Says:
    1611367621

    $1 million was a big goal for me, but $2 million is my financial independence number.

  5. rob62521 Says:
    1611513924

    I waffle between feeling like we are doing OK, then worrying if I buy something I honestly don't need. I live in Illinois as well, almost central in the state, and fortunately, overall cost of living is far less than Chicago and closer to St. Louis. We do not have a million dollars in assets, but do have a tidy little nest egg and we both receive good pensions. I think as it was said before, it is not something someone can tell you what is definite, but what makes you comfortable.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]