Assessment
Assessment please
Hi All,
Made some terrible financials decisions over the years and have just been rebuilding with my wife the last few years.
We now have a net wealth of around ~16 crores.
Unfortunately, almost 6r is illiquid (property mainly), around 4 crores in mutual funds (not going to touch for 20 years), remaining 6 cr actively managed in a combination of shares, etfs and FDs.
We are both late 30s (38 and 40) with 2 young kids.
All things considered, especially due to illnesses to close ones in the Family/friends circle (dreaded C word) we are drawn towards retiring earlier (say by 50) and I m super nervous if we can make it happen especially with 2 kids' universities, Weddings etc to plan for too. I am also quite nervous about job losses derailing what we have etc too, hence want to front load a lot of our savings nest whilst we can. We can potentially save around 5L/month now as long as continue to have current jobs.
I m aware of the 25x, 30x, 4% rule etc. But realistically, would love to hear from anyone in a similar situation or who has retired already about a grounded assessment of our current state?
Secondly, we want to buy a retirement flat in a gated community in Kerala (Trivandrum probably) but not sure if we should shell out 2-3cr now or keep it for closer to retirement as who knows how things would be im 10 years or so...?
Thanks in advance!