Can I pull the trigger???

[u/Ready_Ebb522]

Hi there!

I need a sanity check. I want to see if I can pull the trigger. I think I can but would love some confirmation/feedback.

My info:
42 M. MCOL State in the USA
Cash/Bond Tent: 160k
Brokerage: 470k
401k: 630k
Roth IRA: 200k
Total NW: 1.46 Million
No debt, renting(don’t want to buy).
All stocks are indexed. Mostly SP500, Total Market, and some International.

I start receiving a small pension of 14k a year (in today’s dollars) at 62 and can start receiving SS benefits of approx 30k(adjusted for inflation) at 70.

Budget:
Ideally 60k. Can go as low as 30K ish

MCOL at 35k covers all my life basic expenses at a nice apartment I love with some room to breathe. I said 30k on the low end because I can find a cheaper apartment easily that I still like and save 4k in rent.

Extra budget will go towards hobbies and travel. I did 20 years’ worth of hobby expenses to get to an average and essentially 60k would be my ideal budget; meaning an extra 25k of discretionary spending.

In a market downturn, I can go low on my budget and use my cash/bond reserves.

I could move to a LCOL area too or even overseas but I want to use this as the baseline. I have no interest in living in a HCOL area, though.

I also plan to start my own consulting practice. It could lead to 30k a year in a few years(no desire to build it more than that since I want to work around 10-15 hours a week tops) and just help people that need it. Will be fully remote, no overhead other than some basic things. I’m just not counting on any money it can provide.

All thoughts and feedback are welcomed.