This physician, with four children including two with special needs, retired earlier this year but takes on temporary assignments. With their financial “number” having been surpassed by a factor of two, working is definitely a choice for our interviewee today, and certainly not a necessity.
You might wonder how sailing past double your target number be swayed by luck or skill. Our interviewee today says it’s as much living below one’s means and investing regularly as it is any sort of luck involved.
You’re financially independent. About how much does your household spend in a typical year? How much could you spend while still abiding by the 4% rule?
I am 57 and my wife is 59 years old. We have 4 adult children. Our household consists of mainly the two of us, but our oldest daughter, in her mid-twenties, who works full time, lives with us.
Though she works full-time, she has some special needs that make it difficult to live on her own. She probably would not be able to afford to live on her own in the area where we resid. So in a sense, we support her financially (mostly by providing for her housing-related costs) and socially.