2gypsies wrote:
allen8106 wrote:
If and when I go full time I'll sell my place and drop $50k into a CD for an exit plan. I live in the country on 14 acres and at 59 it's getting to be more than I want to deal with. I could probably sell the place for $225k and burn the rest living out my life at $13k-$15k a year. Social Security, pension and 401k will kick it at 65.
Many full-timers sell their house and put it ALL into their investment plan. That's your exit money. $50,000 wouldn't go far. When you start out full-timing you really should be debt-free.
Not necessarily. For a lot of us, it made sense NOT to pull money from tax-deferred investments but instead pay for rigs with low interest loans that could easily be handled by our income stream.
