$60k/yr life from now on

A while back someone posted a link here to an authoritative book "unveiling the retirement myth". By that book, you can put all your money to S&P500 and then withdraw 3% annually adjusted to inflation for 30 years. Given your $2m net today, $300k w-2 (roughly half after tax in california) and a kid to school ($60k a year x 4), you should sell your million dollar house and move to the investment apartment right now to sustain a $60k/year life for the rest of your life.

There are some fine tuning you could do but definitely you should not stay in that million dollar house any more. You have to turn that spending into investment. As you are going to retire within 10years yet you have an immediate quarter million spending on kids education, you basically can only do conservative investment.

If you are comfortable managing a property manager, a better way is to invest the $2m into multi-family apartments (you can buy 10 to 20 units in bay area assuming no mortgage, more if you borrow) to have a stable inflation adjusted annual net income more than $80k. This assumes buying and managing at market value without any RE pro.