Topics

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Other / Wills & Trusts

« on: May 08, 2020, 05:42:06 AM »

Hello World... Perhaps it’s because most who seek FI are younger, I’ve yet to see information pertaining to Wills or Trusts. The first (and only) time I had an actual will created (by a real living lawyer) I was around 40. Now I’m 55, I own a home when I didn’t previously. I’ve moved out of the state where the will was created, I’ve had more kids, my financial situation has drastically changed, my bank accounts and/or financial related institutions no longer match those in the doc (actually I can’t say for certain they were included)... but you get the picture. Things have changed — a lot!

Anyone have firsthand experience in creating DIY will? Maybe it’s not smart to do? That type of feedback would be equally helpful. I’m not sure what I’m going to do, but sending out feelers.

Gracias.

2

General Discussion / Retiring beyond 55

« on: January 28, 2020, 06:52:08 AM »

Hey folks,
Thanks for reading, and thank you (anyone and everyone) in advance for your input.
I'm 55 and have not been invested. Sad but true, and the reason is too long to explain here.
I have a little over 1.1M in cash. And approx. 500K in 401k. House is paid, no debts.
Yearly expenses are approx. 42K.
I’m still employed.
The key for younger people seeking FI is time, younger people have more time to allow their nest egg (investments) to grow. My plan is to invest 1M and not touch it until I’m 67. Is that enough time (a little under 12 years) to allow it to grow? And given the market is valued so high at this time, is it wise to go all in at my age?
Appreciate your feedback!
Note: at 67 I'll also begin to claim social security, so I won't need very much of that 1.1M. My social security will cover at least 75% of my expenses. Thanks again for your feedback!