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Current Situation:
43 year old male in Oregon
$5,500 month in post tax income
$3,700 month in expenses.
$750,000 investments: $390,000 in Retirement accounts (Roth $85,000; Rollover IRA $285,000; workplace 401 $20,000) $340,000 in Taxable Brokerage account. $20,000 HYSA
My plan:
FIRE with-in 1 year. Eventually move to Washington State since they have no income tax and the first $278,000 annually LTCG are exempt from being taxed.
Keep my Retirement money intact with rolling over the workplace 4account into my Rollover IRA.
Take $330,000 and invest into various CC-ETF's. I'm looking at a mix of SPYI, QQQI, IWMI, BTCI, CHPY and XQQI.
| Fund | Amount | Return Rate | % of Portfolio | Income | Monthly | ROC | Non Qualified | Qualified | Taxable Income | LTCG Tax |
|---|---|---|---|---|---|---|---|---|---|---|
| SPYI | $75,000.00 | 11.90% | 22.73% | $8,925.00 | $743.75 | 95.00% | 2.00% | 3.00% | $178.50 | $267.75 |
| QQQI | $75,000.00 | 13.86% | 22.73% | $10,395.00 | $866.25 | 95.00% | 2.00% | 3.00% | $207.90 | $311.85 |
| XQQI | $25,000.00 | 18.24% | 7.58% | $4,560.00 | $380.00 | 95.00% | 2.00% | 3.00% | $91.20 | $136.80 |
| IWMI | $75,000.00 | 13.68% | 22.73% | $10,260.00 | $855.00 | 95.00% | 2.00% | 3.00% | $205.20 | $307.80 |
| BTCI | $40,000.00 | 25.80% | 12.12% | $10,320.00 | $860.00 | 44.00% | 56.00% | $5,779.20 | $0.00 | |
| CHPY | $40,000.00 | 33.62% | 12.12% | $13,448.00 | $1,120.67 | 40.00% | 60.00% | $8,068.80 | $0.00 | |
| $330,000.00 | 17.55% | $57,908.00 | $4,825.67 | $14,530.80 | $1,024.20 |
With these allocations I would be about $1,100 over my monthly expenses so that would give me wiggle room for down distributions. I would also be bumping my cash up to about $30,000 to allow me to further absorb down months. Once I hit "retirement age" I can start withdrawing from those accounts.
With the ROC taking around 6-7 years to bring my cost basis down to zero, my taxable income would be right around the standard deduction amount. This would allow me to qualify for ACA/Oregon Health Plan as that is also based on MAGI. Oregon does tax LTCG as regular income so that is why I would be looking at moving to Washington state at some point before my cost basis hits zero for most funds. With leftover funds I would look at first buffing up my cash, then probably DRIP most of the remainder with the occasional extra international trip.
I have a long term partner who is in a very similar financial situation as me. Her monthly income and expenses are both slightly less but she has a similar amount in investments and more cash. She is also interested in FIRE but is much more skeptical/conservative financially. She has always wanted $2,000,000 each before retiring.
I do have a meeting in a few weeks with Fidelity and I plan on setting up a phone call or meeting with a local CPA. Are there any glaring things I am missing? Any specific questions I should ask at my upcoming meetings?