Wife and I are 40 with a 2 year old in NC Looking to pull the trigger in July of this year.
Stats:
401ks: $400,000
Roth IRA: $85,000
Traditional IRAs: $1,050,000
Taxable Brokerage: $500,000
Cash: $100k
Primary Home: $800k no mortgage
Vacation home: $400k, $160k remaining at 3.125%
Rental portfolio of $1,500,000, no mortgage.
Our yearly expenses are $120k including estimated $2k/month in health costs.
Post fire the rentals will generate $75k income after costs but pre-tax.
Wife's business will generate about $80k pre-tax.
That should cover our expenses and allow our retirement accounts to grow. I plan to take advantage of Roth conversion ladders to set us up for later years. Also, any large or unforseen purchases we can pull from our taxable.
Am I missing anything critical?