Retirement is construed as having 'enough' to coast whilst not being able to predict the circumstances in which one coasts. How do married or parental Bogleheads decide when to stop investing in life insurance based on attaining a level of wealth that renders it unneeded?
As for my own situation, we are in line to be able to cut down to working 1-2 days a week in 5 years, when we should have about $2M. The rent from our fully owned rental unit covers our monthly 529 contributions. No debt. House paid off and worth about $1.4M. Pensions are minimal as we are self-employed - about enough to cover bills at $400 monthly for me, a bit higher for her, but many years off, with low social security due to not having been self-employed for many years. It's the paradox of having high income but only for a few years. I'm 45, DW is 34.
TIA
As for my own situation, we are in line to be able to cut down to working 1-2 days a week in 5 years, when we should have about $2M. The rent from our fully owned rental unit covers our monthly 529 contributions. No debt. House paid off and worth about $1.4M. Pensions are minimal as we are self-employed - about enough to cover bills at $400 monthly for me, a bit higher for her, but many years off, with low social security due to not having been self-employed for many years. It's the paradox of having high income but only for a few years. I'm 45, DW is 34.
TIA
Statistics: Posted by myartman — Thu Jun 13, 2024 6:44 pm — Replies 3 — Views 217