[Jim]

It’s based on how much you spend which you didn’t provide

[Eman]

All depends on your expenses. But you got way more than enough if you want to live like the average American.

If you want to live like the top 1%, then probably not enough.

[Mike]

If you called it a day right now, you have 53K in rental income coming in yearly plus rental increases.

You can’t take your Social Security until 62, or you could wait till 65, same with your 401K but it will continue to grow depending on how it is invested.

Is that 150K an in office job, you have to be there every day, or can you do it online, meaning you could be anywhere a Star Link Mini, and a battery pack could be, very lite set up would fit in one travel case.

Your net of 2.5 Million, includes the paid off rentals, what about your main residence paid off or still paying.

Next is your monthly burn rate, and can you reduce it.

[Laura]

Another thing to keep in mind with the rental income is that there will be maintenance, repairs, possible turnover, etc.

[Dawn]

Your retirement amount is based on the lifestyle you want to maintain long term.

Do you have enough income producing assets to give you the modestly you want if you stop bringing in income from work?

Do you know that number? If not, that’s what you need to know in order to know when you are ready financially to retire.

[Rick]

I expect you know this already but I have x in assets is not the right amount of info to answer your question.
Some other things to consider

1. If all pretax 401k and you keep the RE, you will have quite the challenge with Roth conversions.

Take advantage of bigger down years with your 401k assets classes and/or big repair years with your RE to Roth convert and get ahead of what would otherwise be an RMD issue in your 70s

Unleveraged RE should strongly be assessed for replacement.

You are giving up the primary reasons for RE and turning it into a historically low performing asset with high risk factors for that low return.

Re leverage the properties, 1031 exchange info leveraged properties, or sell them (tax hit may be decent) or buy non RE assets which typically have better long term unleveraged returns.

[Ron]

To retire at age 47 and expect your money to last to age 94, another 47-yrs, you will need about 30-times your expected annual expenses.

(Be sure to include realistic healthcare costs, the biggest unknown in retiring early.) So, if you want an income of $150k in retirement, you will need $4.5 mil.

With a $2.5 mil net worth, you can retire today and can withdraw about $83k/yr (indexed to inflation) and it will likely last you to age 94.

[Jenny]

If you want to live 5k a month debt free here it is. 5k x 12months x 50 years. This is if you are young and healthy.

Or if you’re thinking your old age and not end up in nursing home, check your local area how much are the home care health a month.

Home care health a month x 12 months x how many years you think you can live.

My personal goal is I have to have 10k a month x 12months x 50 years

[Amar]

4.5 a month income will fluctuate as it comes from rentals so check your budget and monthly expenses, I would definitely add about 1500 dollar buffer unless you have a huge savings account other than rental income.

They 401k is nice but can’t touch it

[Robert]

To preserve your current income you need 3-4 million (4% rule)

[Rosie]

25x annual living expenses, up to 35x expenses if you retire early.

[Sean]

Main thing you need to know is expenses, most of the rest isn’t helpful in determining the answer.

[Savan]

Depends on your expected annual expenses and your health/family history/anticipated longevity

[Neal]

If $94K is enough for your annual spend in retirement then what you have is sufficient. ($4.5K x 12 months) + ($1M x 4%) = $94K. This also does not account for Social Security at age 62.

One thing to consider is that from ages 47 and 59.5 (when you cannot access your 401(K)), will your rental income of $54K a year cover for your living expenses?

This is all just rough math based on rules of thumb and not financial advice.

I highly encourage speaking with a fee-only fiduciary to make sure all of your bases are covered based on your TOTAL financial picture, financial goals, risk tolerance, risk capacity, and time horizon.

[Author]

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