re: Am I early retirement ready? Updated

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My wife is on board. She's much less concerned than I am about whether we can afford it. She runs the household fiance's and is confident we can afford it.

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Sounds like you have the i's dotted and t's crossed.

Best advice would be to look forward at your family situation 15yrs down the road. You say 1°/2° school is pretty much on ice. that leaves college, weddings, etc. You sound like someone who's run those numbers already.

Presuming you'll lock up the $1.2M in a risk-reduced income-producing account, it will produce $35-50K/yr. If you worked 10 more years, and let the account grow, it would likely double in size. Roughly quadrupling if you worked 20yrs without drawing off of it. You sound like someone who's run those numbers too.

You'll just want to get to your 60's with no "lookback regrets". It would be ashame to find yourself wishing you had more funds for some purpose at that point. But being fairly conservative, you're obviously looking at ~$100K/yr in income in the meantime.