What's your FIRE number? How close are you to achieving it?
I'm generally targeting $1,000,000 but could probably pull the plug sooner. I'm just under the halfway mark in pure $$$.
$2 mil for some lavish comfort and not having to stress so much about a strict budget, or $1.8 mil for a easily doable 3.5% withdrawal rate. For both numbers I would want a paid off house to be able to manage my tax situation better.
I’m at about $700K in savings/retirement, $200K in home equity which doesn’t really count for anything in this scenario, and $250K left on my mortgage. So… not that close but honestly not that far if all goes well. Hopefully eight years or so.
Dang you're almost there! I live in HCOL area so $2M. I'm 5% to the goal 😢.
Hah, I guess I should have also included how long have you been pursuing FIRE? I've been chipping away for 8 years now.
My pie in the sky number is $4.5M, we’re about two thirds of the way there after working for 15 years. There’s a good chance I throw in the towel sooner, though, I’m super burnt out.
Of course, the one time I decide to skip the All Hands meeting it's the one where they make a major announcement about layoffs.
I'm pretty sure I'm safe, but in the off chance I am let go, I'm definitely dreaming about taking the rest of the year off before finding a new job in 2024...
A friend took 7 months off between jobs and said it was the best decision ever. It was a full reset after being burned out. You should go for it!
FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.
Flow Charts:
Personal Income Spending Flow Chart (US)
Personal Income Spending Flow Chart (Canada)
Personal Income Spending Flow Chart (Australia)
Personal Finance Flow Chart (Ireland)
Useful Links:
Mr. Money Moustache - a frugal lifestyle blog
Related Communities:
/c/PersonalFinance@lemmy.world
/c/PersonalFinanceCanada@lemmy.ca
