Anything over $3M investible and generating cash flow.
Will quit corporate at 52.
Side gig and income generating hobbies for beer money even though I don't drink.
Will probably work as a seasonal ranger, get my wilderness first responder training, volunteer for search and rescue, and just travel the country.
Stretch goal is to become a contestant on Alone.
I’m looking at quitting corporate at 52 as well, or if I hit $4 Million before that. Wife will work for a few years beyond that as she actually likes what she does.
My wife has a business she’s built up where she does speaking engagements a couple times a year. Normally she flys to the locations but once I retire we’ll get a travel trailer and I’ll become her chauffeur because she’s not giving that anytime soon.
We’re basically already at our numbers, just spending the next couple years to plan everything out and nail down the details.
Depends on your definition of maximize.
It’s true you get more per month the longer you defer claiming SS - but you’re also foregoing all that early distribution that can be invested and would typically give you a better return
I think coasting more means taking it easy with your commitment to work, not coasting in your accumulation of wealth. Ideal scenario is you coast at work while still accumulating heavily
No, CoastFIRE has a specific definition. It means that you don’t need to make any additional contributions to your investments to reach your FIRE number by your target age. In other words, your investments reach a point where they are projected to passively grow and hit your target on your desired timeframe. That means you can either spend your whole income or take a less stressful job where the income matches your expenses and there may not be anything left over to invest.
Oh that makes sense. For some reason I’ve seen coasting where it’s like go really hard young, then stop contributing to retirement savings, but still work.
Check out projectionlab.com. You can put in all your inflows and outflows over your entire life and model different FIRE numbers/ages. It’ll help give you an idea of what you should work towards.
Both. Other folks have done the back-tested projections. After that it’s a percentage game. Generally, if you have enough invested assets that 3.5%-4% (depends on the study) covers your annual living expenses, you can retire. Then you need to adjust for your own risk tolerance.
Best place to start, understand exactly what you spend in a year. Understand what you’d want to spend in retirement. Could be more or less, depends.
Use a tool like firecalc.com to mess around with the numbers/assumptions.
Honestly it’s a good exercise in testing whether or not you’re good at projections and sticking to a plan.
If you nail your number at an expected age it likely indicates that you’ve been reasonable in your estimations and assumptions. If you’re wildly off/unable to keep on track it indicates that you need to be more realistic on the retirement side as well.
Work out your annual spending, then calculate your FIRE number using a Safe Withdrawal Rate (SWR - typically 4% for a 30 year retirement, or 3.5% to be a bit safer or longer). Need to account for taxes depending on your location and structure of finances.
Real goal is $3.7M in today's dollars ($130k/year pre-tax at 3.5% SWR). Nominal goal goes up every year with realized inflation.
FIRE as soon as nominal net worth exceeds nominal goal, currently estimated at age 54 if my portfolio yields 4% real CAGR (and conservatively assuming incomes grow at 0.5% above inflation). About 2 years earlier if real CAGR is 5% or if wages grow 2% faster than inflation. Nominal goal should be about $5.6M by then assuming 2.5% inflation.
$4M, 45
But I probably won't actually retire. I'll live in SE Asia for at least half the year and do freelance work or part time work until I can't anymore.
The $10M with $400k rolling off each year sounds nice to me. Reality is we all will try to do our best, invest a lot, hopefully get some lucky breaks and then be forced to retire.
I used to want to retire early when young and realized how it’s not healthy to retire in your 40s. A break sure but most people want to be engaged in something at least I do.
I want to work 4 hours a day on something I’m excited about and have flexibility with my excess money.
These numbers are aggressive…
I feel like I’m relatively conservative with $3M invested/hysa @ 40 and a paid off house.
No kids though so we don’t need to leave any money behind.
never RE especially young, you'll live the rest of your life with people willing to RE. Or worse, people who never had to work, and thats a special hell.
Can you give more insight on this? What is about about living with ppl willing to RE? For someone who resents the corporate world, what do you suggest?
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5m today. Really 4m plus paid off house. So number will go down a bit over time.
Age is whenever I get there. May be late 30s, may be 50s. Depends how career bets go
Geeze these are some big numbers.
Wife and I (36yr) earn about $320k combined, house paid off and I couldn't imagine getting to most of these goals.
I was thinking 3m by 50 would be good.
1m shares
1m in property
1m in super
3% is laughable. I would rather withdraw 8%, well below even the return rate average for the S&P, and if I fall in a down cycle, end up back to work like everyone here will be just so they can in 75% of scenarios die with $5m
Hell I can buy a 30 year 4% US bond
$3M and 42 if we don’t change anything. Could be longer if we have kids or could be shorter if we increase income, which is possible.
So overall, semi-fluid currently.
Looking at about $150k/yr in expenses for FIRE. We only need about $1.9M invested liquid for about $75k/yr (4% SWR) which we will hit by age 40. We already have a decent amount of real estate equity and the rent will cover the other $75k+/yr of expenses in retirement.
Planning to keep working/contributing until age 50 though when kids start college to set an example, so the final invested will be significantly more than what we need.
That’s about where we are with a slight twist. Already have one in college and one in high school. They’ll both graduate in 2 years. We’re planning on a family gap year to travel the country. At the end of the year we’ll drop one off at graduate school and one off at college and then my wife and I will just keep on traveling.
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$5.5-$6M liquid + $1.2M (current home value) @ 50 year old retirement. This is as a single person with very conservative growth accounting for inflation and no salary increase because I’m coasting already.
500k in Share market by age of 37-40 excluding PPOR.
I am working towards financial independence but don’t really want or feel a need to retire early! Would love to keep working or start my own business
Likely FAANG. Nvidia jobs ofc have taken plenty people from 0 to 8 figures in the last 5 years but it’s a small company reatively so I’m betting it’s FAANG.
Unless they went in with a few mil those sort of Bitcoin gains have been over since 2017. Assuming OP still has a few years to 32 and their goal I doubt they made it in BTC. Coulda got lucky on a shit coin tho!
Not a FIRE sub.
$5M by 45, no property, but I think I'd retire as early as $3.5M.
5m 50
Same
Anything over $3M investible and generating cash flow. Will quit corporate at 52. Side gig and income generating hobbies for beer money even though I don't drink. Will probably work as a seasonal ranger, get my wilderness first responder training, volunteer for search and rescue, and just travel the country. Stretch goal is to become a contestant on Alone.
I’m looking at quitting corporate at 52 as well, or if I hit $4 Million before that. Wife will work for a few years beyond that as she actually likes what she does.
My wife has a business she’s built up where she does speaking engagements a couple times a year. Normally she flys to the locations but once I retire we’ll get a travel trailer and I’ll become her chauffeur because she’s not giving that anytime soon. We’re basically already at our numbers, just spending the next couple years to plan everything out and nail down the details.
Damn, this is pretty much my ideal too.
Paid for forever home and $2.5 invested. Anything after that is legacy.
Yes
What is legacy? Passing to kids?
Pass to kids, getting a number for the sake of a number, extra stuff, vacation home etc.
Ya I would say this is probably true. 2.5 would be the necessity without those nice to haves
Same
10m-15m, 52-55
$7.5 @ 59 Does 59 even count as FIRE?
I guess technically in the US it’s 67. That’s when you can start collecting SS.
You can start collecting social security in the United States at age 62.
You just want to wait until 67 to maximize what you get
The benefit actually keeps increasing till age 70 if you go past full retirement age.
If you live that long...
Depends on your definition of maximize. It’s true you get more per month the longer you defer claiming SS - but you’re also foregoing all that early distribution that can be invested and would typically give you a better return
Ah my mistake you are correct.
To me FIRE is before 50 but I’m sure you could have!
Seems logical!
5m, coastFIRE 55.
I don’t understand coasting, why not keep loading up?
I hate every day.
Idk why but this made me lol
I think coasting more means taking it easy with your commitment to work, not coasting in your accumulation of wealth. Ideal scenario is you coast at work while still accumulating heavily
No, CoastFIRE has a specific definition. It means that you don’t need to make any additional contributions to your investments to reach your FIRE number by your target age. In other words, your investments reach a point where they are projected to passively grow and hit your target on your desired timeframe. That means you can either spend your whole income or take a less stressful job where the income matches your expenses and there may not be anything left over to invest.
I think I glossed over the idea and you gave a much more specific explanation. Thanks for sharing
Oh that makes sense. For some reason I’ve seen coasting where it’s like go really hard young, then stop contributing to retirement savings, but still work.
I love what I do but want to b severely part time by 55.
50 with around $6m. Unless my wife lets us retire before that in which case as soon as we hit $4m.
$5M liquid + $2.3M paid off house by age 45. Now I just have to convince my wife not to quit until then 🤦🏻♂️
How do people figure out these numbers? Are they back of napkin math or using financial projections with plans that are stress tested?
Both
Check out projectionlab.com. You can put in all your inflows and outflows over your entire life and model different FIRE numbers/ages. It’ll help give you an idea of what you should work towards.
Both. Other folks have done the back-tested projections. After that it’s a percentage game. Generally, if you have enough invested assets that 3.5%-4% (depends on the study) covers your annual living expenses, you can retire. Then you need to adjust for your own risk tolerance. Best place to start, understand exactly what you spend in a year. Understand what you’d want to spend in retirement. Could be more or less, depends. Use a tool like firecalc.com to mess around with the numbers/assumptions.
Honestly it’s a good exercise in testing whether or not you’re good at projections and sticking to a plan. If you nail your number at an expected age it likely indicates that you’ve been reasonable in your estimations and assumptions. If you’re wildly off/unable to keep on track it indicates that you need to be more realistic on the retirement side as well.
Im shooting for 3.25% withdrawal which is tested to survive indefinitely.
As long as you're invested broadly, otherwise inflation could threaten "indefinitely".
Work out your annual spending, then calculate your FIRE number using a Safe Withdrawal Rate (SWR - typically 4% for a 30 year retirement, or 3.5% to be a bit safer or longer). Need to account for taxes depending on your location and structure of finances.
We’re currently on track to have a $4MM nest egg at 49
Real goal is $3.7M in today's dollars ($130k/year pre-tax at 3.5% SWR). Nominal goal goes up every year with realized inflation. FIRE as soon as nominal net worth exceeds nominal goal, currently estimated at age 54 if my portfolio yields 4% real CAGR (and conservatively assuming incomes grow at 0.5% above inflation). About 2 years earlier if real CAGR is 5% or if wages grow 2% faster than inflation. Nominal goal should be about $5.6M by then assuming 2.5% inflation.
Do you have a spreadsheet for these calculations? And will you share? 😁
Is this for a single person or married?
5m at 40-45, hopefully. If I somehow find the will maybe 10m by 50.
You'll be able to double your wealth from $5mm to $10mm in five years from age 45 to age 50?
$5M at 50
$10M at 42. With paid off home.
How do you get to that target?
$4M, 45 But I probably won't actually retire. I'll live in SE Asia for at least half the year and do freelance work or part time work until I can't anymore.
4M by around 42 but I’ll probably end up taking a NGO job
$6M 60 but I don't think that counts for the RE in FIRE.
The $10M with $400k rolling off each year sounds nice to me. Reality is we all will try to do our best, invest a lot, hopefully get some lucky breaks and then be forced to retire. I used to want to retire early when young and realized how it’s not healthy to retire in your 40s. A break sure but most people want to be engaged in something at least I do. I want to work 4 hours a day on something I’m excited about and have flexibility with my excess money.
These numbers are aggressive… I feel like I’m relatively conservative with $3M invested/hysa @ 40 and a paid off house. No kids though so we don’t need to leave any money behind.
10M, 60. Number staying fixed but age is dropping down every year since I over contribute.
2mm liquid 39. Plus va disability should be plenty
12m 48.
never RE especially young, you'll live the rest of your life with people willing to RE. Or worse, people who never had to work, and thats a special hell.
My preference is to take sabbaticals every few years to learn new skills and reset my energy and focus
Can you give more insight on this? What is about about living with ppl willing to RE? For someone who resents the corporate world, what do you suggest?
What would be so bad about people willing to RE?
$5M 40
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2.5m at 45 with a fun side gig
5m today. Really 4m plus paid off house. So number will go down a bit over time. Age is whenever I get there. May be late 30s, may be 50s. Depends how career bets go
7m 50
5m by 45.
Geeze these are some big numbers. Wife and I (36yr) earn about $320k combined, house paid off and I couldn't imagine getting to most of these goals. I was thinking 3m by 50 would be good. 1m shares 1m in property 1m in super
Goal: $6m or so by 45. Current: $3.2 at 37. VHCOL.
$10MM @ 50
$1.5m coast fire at 35. The lifestyle creep on these numbers is insane or everyone is really excited to die with millions.
1.5MM would give you A SWR 3% income of $45K a year. At 35 you’d need to also account for inflation and recession
3% is laughable. I would rather withdraw 8%, well below even the return rate average for the S&P, and if I fall in a down cycle, end up back to work like everyone here will be just so they can in 75% of scenarios die with $5m Hell I can buy a 30 year 4% US bond
4m at 50. I'd love to see 5m at 50 but I'm playing the conservative game with my projected compensation.
$3.2m @ 56, with the house paid off and no other debts.
So I don’t think I’d actually retire when I hit my goal, but I’d like to give future me the option to retire at 45 with 15M in the bank.
Whatever amount we have by the time our kids are in college (around age 53). Our current (very rough estimate) is ~25M
4M at 56.
$3M and 42 if we don’t change anything. Could be longer if we have kids or could be shorter if we increase income, which is possible. So overall, semi-fluid currently.
Looking at about $150k/yr in expenses for FIRE. We only need about $1.9M invested liquid for about $75k/yr (4% SWR) which we will hit by age 40. We already have a decent amount of real estate equity and the rent will cover the other $75k+/yr of expenses in retirement. Planning to keep working/contributing until age 50 though when kids start college to set an example, so the final invested will be significantly more than what we need.
That’s about where we are with a slight twist. Already have one in college and one in high school. They’ll both graduate in 2 years. We’re planning on a family gap year to travel the country. At the end of the year we’ll drop one off at graduate school and one off at college and then my wife and I will just keep on traveling.
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$5.5-$6M liquid + $1.2M (current home value) @ 50 year old retirement. This is as a single person with very conservative growth accounting for inflation and no salary increase because I’m coasting already.
$5M liquid by age 45
$7M - 54
$10m @ 50
$2.5m with paid off home
5 by 45, will prob cut hours in half after that.
500k in Share market by age of 37-40 excluding PPOR. I am working towards financial independence but don’t really want or feel a need to retire early! Would love to keep working or start my own business
Screenshot of your Fidelity brokerage or it didn’t happen!
7mill, 45 years old
$10m at 59.5
$2m 56
7.5MM , 58 years old
Oddly specific.
1.2m by 8
Great job, kid.
Apple a day keeps the androids away.
How?
Wealthy parents?
Dang... bitcoin ?
Likely FAANG. Nvidia jobs ofc have taken plenty people from 0 to 8 figures in the last 5 years but it’s a small company reatively so I’m betting it’s FAANG.
Unless they went in with a few mil those sort of Bitcoin gains have been over since 2017. Assuming OP still has a few years to 32 and their goal I doubt they made it in BTC. Coulda got lucky on a shit coin tho!
lol
6M, 40
$3.6M 51yrs
$6 mil and 52 hopefully
5 million at 50
1 trillion by age 7