Am I really CoastFI and can I really go part time?
I am relatively new to the FI/CoastFI notion...dual income household that luckily my spouse had started investing early in his career.
Family of 4, current household income roughly $475k (310-330K from me). We are early 40's y/o, 2 young kids (elementary) in private school ($45k/year total) which we plan for at least another two years then hopefully public. Annual spending roughly $175K +/- 15k.
Our total current liquid assets is about $2.4 mil all in stock market/small amount cash. This does not include some other investments that are illiquid (real estate/oil/private equity) that may roughly be around $325K...as those investments are a bit more uncertain re: payout/illiquid nature of it (for all it's worth, I just pretend it's not there for calculations). Kids 529 currently has $120K total. Home equity about $550k (about $110k left on mortgage). So net worth maybe 3mil +/- some.
I have a hard time using some of the coastFI calculators as our annual spend is quite high and I don't anticipate to spend as much once the kids are older/post college...we certainly won't be spending $175K a year in retirement so how do we take this into account?
I would really like to go part time in my job which would cut my salary to $150ish and husband plans on working so household income will be about $315k.
Can I reasonably go part time without worrying that the numbers won't pan out? We have a difficult time trusting the math and concerns about the economy and market going south for a long time. I do plan on having a meeting with a CFP but wondering everyone's input.