FIRE thoughts and targets

Amazon
FIREd Up

Go to company page Amazon

FIREd Up
Jul 11, 2021 135 Comments

I have been reading a lot and excited about FIRE (Financial Independence and Retire Early) but curious to hear other’s thoughts and targets (if any).

Please introduce yourself using below template and share your thoughts and risks/fears:

Age and current status:
Location:
TNW (Total Net Worth):
Sources of NW:

FIRE target age:
FIRE target NW:
Target annual income at FIRE:

Thoughts/risks/fears?

My stats:

38 married
Seattle
$2.6M
Stocks $2M, 401k $600k, bank ~50k

FIRE target age: 50
FIRE NW: $5M
Target annual income: $250k

I feel at $5M we will be at a good spot to retire (or take work easy) and relax but I am sure i am overlooking risks and curious to hear from others.

135

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 TOP 135 Comments
  • Google
    yolo 🧁

    Go to company page Google

    yolo 🧁
    39 single
    Bay area
    $6.1M
    (Stocks, index funds, RSUs, 401k, IRA, Roth IRA, emergency fund in cash)

    Expenses are low (under $100k per year, including $40k in rent). I was thinking of walking away earlier this year (to do God knows what), but found another team / project I was excited about.

    I very much agree with folks saying that tech workers have a warped sense of what it takes to survive financially. Drive a used car and rent. Even with a family... I went to public schools all my life. I turned out fine, and my parents have no debt.
    Jul 11, 2021 5
    • Amazon
      fire 🔥

      Go to company page Amazon

      fire 🔥
      Great to see this. Curious to know your level/tc at goog? Basically just want to know if it’s required to be L6+ to reach this level of nw
      Jul 11, 2021
    • Google
      yolo 🧁

      Go to company page Google

      yolo 🧁
      I joined as L4 and was promoted a few times over the years.

      I'd say the higher TC helps accelerate things, but it doesn't change the basic principles. The most important thing is to be disciplined about saving and investing, and not to inflate your lifestyle when you do get promoted.

      I've also benefited significantly from the performance of GOOG stock over the years.
      Jul 11, 2021
  • Splunk
    RaRT00

    Go to company page Splunk

    RaRT00
    Early 40s married
    SF Bay Area
    Target net worth: over $5 million
    - Stocks and bonds, over $5 million
    - 401k - over $300,000
    - Bank ~ $10,000
    - Real estate - fully paid off house, not included in net worth
    Sources: worked at non-FAANG and saved aggressively. Also had a few successful investments along the way

    FIRE target age: 35
    FIRE NW: $5 million
    Target passive income: $200,000/yr
    Actual passive income: over $200,000/yr for at least the past 5 years

    Retired early once and got bored after about 6 months. Went back to work with a more confident attitude and enjoyed it more.
    Jul 11, 2021 12
    • VTEX
      EGkm30

      Go to company page VTEX

      EGkm30
      Would you mind sharing those scripts? What exactly do they do?
      Jul 12, 2021
    • Splunk
      RaRT00

      Go to company page Splunk

      RaRT00
      The script takes a CSV dump of my positions as input. It does calculate some portfolio-wide metrics, like an income chart of all dividends and payments due in the next 24 months. More importantly, it calculates the weighted correlation of the portfolio against the market based on the past quarter and suggests positions to reduce based on profits that can be locked in and/or tax harvested by comparing against option prices (non real-time -- approximate is sufficient).

      Been working on extending it to include leveraged positions as well. It's not as easy as I expected, and I am definitely glad I started this project with a test-based development approach.

      Sorry -- I'm not willing to share these scripts. The code quality in them will invite people to question how I even deserve the TC that I've been pulling in throughout my career.
      Jul 12, 2021
  • Microsoft
    flightless

    Go to company page Microsoft

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     flightless
    That's fat-fire for sure. Growing up in the south, income over 100k is rolling in it.

    26 single
    500k
    Stocks 400k, 401k 50k, BTC 40k, bank the rest
    FIRE NW: 2M

    I think everyone, especially west coast tech workers, could benefit from going lean on budgets for a year and see how they can give back instead of consuming. Having a new 100k Tesla looks more like a ball and chain to me.
    Jul 11, 2021 3
  • Airbnb
    tyrfhydvju

    Go to company page Airbnb

    tyrfhydvju
    In 12 years 5m won’t be enough
    Jul 11, 2021 1
  • 33 Married ( single earner), Seattle NW: 2.4M.

    401K- 350K, Stocks- 1M, Cash- 50K, rental home equity: 500K, primary home equity: 500K

    Fire target Age :45
    Fire NW: 6M
    Target annual income:250-300K

    Current Tc-350K
    Jul 11, 2021 13