California E&S Insurance

35/m + 32/f + no kids with $1.65m net worth, semi-retiring Well, it didn't happen exactly how I envisioned it, but my wife and I are semi-retiring. I've worked for a startup for the past several years but they are cutting costs and shifting directions and I just don't have it in me to see that through over potentially several more years. Plus most of my stock options are vested and exercised so I've already captured most of the upside. My wife isn't thrilled with her job either and our lease is ending so we decided the time was right to leave. We are very lucky to be able to live for a while in her parents' vacation home that they don't use any more and sits empty 95% of the year, so we won't have to pay rent. Our current combined net worth is about $1.65 million. However, about $100k of that is illiquid startup stock. It also includes a rental property in a HCOL area with a value of close to $900k but a mortgage of close to $400k. The rest is cash and investments. Ignoring the startup stock and subtracting $125k for closing costs and taxes on selling the rental property (which we plan to do in the next few years), that gives FIRE assets of about $1.4 million. We were hoping to get closer to $1.6 million because at a 3.5% withdrawal rate we should be able to spend $40k per year indefinitely and still have ~$400k to buy a house in a MCOL area. I was initially planning to do part-time contract work for my startup, but they offered a low rate (below my current effective rate) and refused to negotiate, so out of principle I decided to pass. But I'm confident I can fairly easily pick up a decent amount of consulting work through various contacts in my field. This should help bridge the gap until I'm sure we can fully retire. Ignoring housing, we currently spend about $15k/year, so I have no doubt we'll be able to support that and continue saving. Health insurance is a big question mark, but we are both relatively healthy and I'm less pessimistic than many on this sub. Our unsubsidized premiums will be about $7-9k/year for a bronze plan. Of course, if our income ends up low enough, we should get subsidies. I'm very excited for this next phase in our lives. As long as I've been working, I've felt like I'm very efficient, and when I get my work done for the day I want to go home and relax instead of having to come up with stuff to do, or worse, try to look busy. On the other hand, I can't say I'm not at least a little anxious about not having somewhere to go every weekday, and the structure that instills. I don't necessarily have huge plans for all the newfound free time, but I'm hoping to get more exercise (including taking up biking), read, and finally watch some movies that I've been meaning to for a while. I'm also very excited about being able to hike or go to the grocery store in the middle of a weekday!

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