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This is all so exciting! Congratulations!! With a such a young kid, it feels like you pulled the plug at the right time for the right reasons. I couldn’t be happier for you – or more jealous!
Hola!!! 🙂
It definitely feels like the right moment to do this. We’ll be around her when she needs us the most and wants to be around us. 😉
Thank you for stopping by!
Congratulations!
I’d love to know more about the numbers and how much your investment portfolio spits out to cover your expenses. We found with having a kid that our expenses are going on, so we are actively trying to boost our passive retirement portfolio by another $50,000 a year. But I don’t think we’ll get there for another three years.
Have your phone you needed to have more or make more once your child was born?
Sam
Thanks Sam!
Our entire portfolio’s income, including the funds to buy a house that are in money market account, was $40,568 last year. We own our current home outright. It was a rental property, but we decided to move in for now since we still need to decide where we want to live by the time our little one needs to attend school.
We were aiming for a spending budget of $40k a year with a paid-off home. Given our previous dividend income I feel strongly about being able to live off the dividends without tapping into investment gains.
We’re in the process of analyzing how much we should keep in the house fund given that a) we don’t see ourselves moving within the next 3 years and b) we have about $120k of home equity that we can use towards the future purchase. This gives us more flexibility with cash in early retirement as most of our money is in retirement accounts that can be touched until traditional retirement age.
As far as kid spending. It hasn’t been that bad for us. We expected to pay for a babysitter this year but now we’re home and don’t need it. Baby now eats mostly from what we cook and she gets lots of present from friends and family so we don’t spend much on her.
We planned our early retirement with a couple of kids in mind, and we also plan to live in areas with a lower cost of living than west coast.
Thanks for commenting, buddy!
Cool! Everything should work out!
Jubilado!
Jubilation!
A sincere congratulations to both of you. Enjoy!
-PoF
Thank you, sir! Congratulations to you as well on your early retirement and new home purchase. We might cross path on our travels.
Great Post 🙂
Financial goal I accomplished this year: downpayment for my first apartment and a savings I am proud of! With the help of two(and third is still a baby) very helpful people
Thanks Jessya! I’m glad you were able to meet those goals! 🙂 I can’t wait to see your story continue to unfold.