My wife and I have a net worth of $5.4 million - can I afford to pass on a new job opportunity that pays $70k per year more?
Briefly

from 24/7 Wall St.2 months ago
Despite a strong financial foundation with a net worth of $5.4 million, the emotional transition from earning to spending remains a daunting challenge for many individuals considering early retirement.
24/7 Wall St.https://247wallst.com/personal-finance/2024/11/10/my-wife-and-i-have-a-net-worth-of-5-4-million-can-i-afford-to-pass-on-a-new-job-opportunity-that-pays-70k-per-year-more/
The shift from accumulating wealth to spending it can create anxiety for prospective retirees. It's crucial to remind oneself that accumulated savings should serve to support retirement living.
24/7 Wall St.https://247wallst.com/personal-finance/2024/11/10/my-wife-and-i-have-a-net-worth-of-5-4-million-can-i-afford-to-pass-on-a-new-job-opportunity-that-pays-70k-per-year-more/
Setting a sustainable withdrawal rate, ideally no more than 4% annually, is essential for ensuring that retirement savings can last throughout the retirement years.
24/7 Wall St.https://247wallst.com/personal-finance/2024/11/10/my-wife-and-i-have-a-net-worth-of-5-4-million-can-i-afford-to-pass-on-a-new-job-opportunity-that-pays-70k-per-year-more/
Successfully retiring early hinges not just on financial readiness but also on managing emotional hurdles that arise when transitioning from a workforce mindset.
24/7 Wall St.https://247wallst.com/personal-finance/2024/11/10/my-wife-and-i-have-a-net-worth-of-5-4-million-can-i-afford-to-pass-on-a-new-job-opportunity-that-pays-70k-per-year-more/
Read at 24/7 Wall St.
#early-retirement #financial-planning #emotional-aspects-of-retirement #withdrawal-rates #net-worth-management
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