I’m certainly no expert here, but the first thing I thought when you said you wanted to write a novel was “GO FOR IT!!!!” Whether you had $5mil or $5 in the bank I would advise trying to fulfil your dreams :) Plus, your dream of writing a book could potentially even bring in income down the road, so in that case it would be Win-Win.

The nice thing about have an education – in education – is that you can always go back to it whenever you choose. Maybe you do it on the side, or maybe you start your own blog teaching others something, but you can do it at pretty much any point in your life. That is really important to know because it means you have options.

So what do I think? I think you both are doing an excellent job and you should pursue your dreams and be HAPPY :) What I will recommend though, just to be on the safe side, is to find a good financial planner in your town and set up an hour or two meeting to make sure everything is on track. It might cost you a cple hundred dollars (maybe less?) but THAT would be the ultimate way to lock down a true report on your finances. I seem to think like a 20-30 year old so my brain is a bit skewed when it comes to those in older situations :)

Regardless though, keep us updated on what you end up doing!!! And if you write that book, I would like to get a signed copy please :)

I have about 1.2 million in investments and savings (a mix of stocks, bonds, and annuities, and money markets). Our home, bought in 2007 for 950k is now probably worth about 875. (We live in a suburb ten miles outside NYC, where the housing bubble has burst, but homes in our town still sell quickly, and there are few foreclosures.) We have no mortgage. My parents give me a “gift” of 26k per year, tax-free. I also earn money from being a shareholder in a family company–about 50k/year, though that will end soon, as my parents are retiring and folding the company. (It is a small media company, so does not “produce” actual merchandise. It’s sale will not result in a huge influx of money.) My husband earns about 150k in his work, and has a 401k worth about 400k. (He also has a pension–he has worked at the same company for 25 years.) We have saved a total of about 200k in our kids’ college funds (429s)–they are 6 and 9 years old. We have no debt, except what is currently on our credit cards (we pay in full monthly). Our annual property tax bill is probably our biggest expense–16k per year.

I have a masters in education, but no longer teach. I previously was a writer and editor, and do occasional freelance work; I’ve also recently taught some college courses. I am currently writing a novel–something I’ve wanted to do my whole life.

My husband has an MBA and works in marketing.

Recently, we decided to splurge, and are taking 3 rather expensive vacations over the next 6 months, totalling about $13k.

We will be 50 in a few years.

So, what’s your view on our situation? Now that my youngest is in kindergarten, do you think I should go back to work full time? Or is it okay for me to indulge my writing dream, if only for a year or so? (I take a writing class and have been told my work is promising.)