My hard working husband and my Foolish-before-her-time mother made sure that we have a goodly amount of stock, about $700,000 worth. Our only debt is home and property-related, but we will miss my piddling rural high school English teacher's income of about $27,000 when our first child is born in April. (That's about half our income once we subtract the costs of my husband's fishing business.)You can take $28,000 out of your 700,000 and the 700,000 should keep growing over time.Lets say your money doubles every 10 years (actualy faster but we are being conservate)then the 700,000 will be 1,400,000 at 51 and 2,800,000 at 61.Now the 28,000 a year and college costs will cut this down a lot but my guess is you can see that you have them money to consider a couple of years no income. Maybe your back to work earnings in the future can cover the college costs. Go to the Retire Early board and look for posts on safe withdrawl rates and asset allocation. Your assets allocation is very very very important to this working.Keeping your skills current is important. Can you also work as a substuite teacher a few days a year? Is there a night school you can teach at for short times?I am in favor of a parent staying home with the kids, but that parent also has to be able to support themselves if necessary so keeping your skills current is important.I would also invest 2000 each in a ROTH each year. You can take the cash from the 700,000 as long as your husban has 4000 of earned income.You might also want to work part time at a childe care center or maybe even take one or two children into your home and provide care while there parents work. This could be good for your kids. Maybe a lot of state requirements and liabililty problems so you may not want to do this.
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