I was in the same position. High salary and 25% of the profits as long as I stayed with the company. I still walked away despite my trepidations. If you downsize you will be amazed how little you really need. I bought expensive toys and did things simply because I could afford to, but those things are not really needed. My $300 watch tells time better than my $5000 watch. My Honda CR-V gets me to where I want to go in comfort the same as my BMW. I no longer need to buy expensive suits and shoes. No more private clubs, limos and 4 trips a year to Vegas.Thank you all for your replies and thoughts.
Ms. gamboolgal knows how tired I am of being oversea's and she is fine if I pull the plug tomorrow.
We go to Texas for a month off in about 2 weeks. We'll be talking about it and she has me lined up with all the quacks to get checked out physically, vision, the old borescope, dentist, even the hearing doctor as she says I am hard of hearing....ha
We are in a wonderful spot to have this "problem" - I think I know the right thing to do but to be honest it's abit scary and daunting to go from making very good money to living off investments... Like I said - wonderful problem to have.
Really appreciate the feedback and we'll keep yawl updated. And please any more words of advice is welcomed.
This one was taken right outside the compound in Port Harcourt. Miraculously no one was killed. This happens fairly regular here as roads are rough goat trails and trailer loads are not secured....
Life's a Dance and You Learn As You Go.....
I have about 4 years salary saved and as you know, a history of high salaries means higher social security payments. With my SS and 401K I will do just fine plus that have most of my inheritance in CDs and high yield bank accounts for large purchases or emergencies. I have not had to invest in the stock market other than about $30K just for fun and something to follow daily. When the next recession comes I am going to buy up as much stock as I can and since time is on my side, wait for it to grow so that I will have a lot more in my 80's.
I lived in Houston. I liked Texas. Humidity is about the same as here in Florida. I have family here which is why we are here and not in Texas.