With people having different opinions on FIRE goal, let's see what is most popular among tech.
India
Yesterday
624
Who are these retards asking for dictatorship in India?
2024 Presidential Election
Yesterday
604
Heartwarming peaceful protests
India
Yesterday
551
Modi is a legend, will be remembered for centuries to come
Tech Industry
Yesterday
256
Age recommendation for leadership role
Tech Industry
Yesterday
1312
The end of Backdoor Roth?!
I wonder if there was an option with >$10m (and so on) , would more people choose that ?
Tres commas!
This guy fucks!
These surveys usually forget that time is limited and time is currency. If you can make 5mm by 60s, it’s useless. You need to make it by 30s or 40s so you have sufficient time to enjoy the dough
👌
This
Twice my essential monthly expenses in passive income. Fortunately, I really enjoy my job and the time it affords me to travel, be with my family, etc. For me, the urgency to quit my job is pretty low.
TC? And level?
Xoogler, L8 title, L7 job, L6 TC $500k
FIRE is every bit as much about knowing what you want to *do* in retirement as it is about the number itself. Sitting on your ass playing video games everyday with $5M in the bank loses its novelty pretty quickly
Try me.
Well said, for me personally it's more about FI than the RE part. Work is essential to maintain sanity. With FI, I can work on more obscure projects which do not get attention by people who are working a day job, and continue learning new things to keep the mind fresh and active 🙂
Mine used to be lower (it's now ~6mill) but what I realized is that while I could live off of 800k pretty much eternally, at that rate I would still want to work so I can grow it which means I'd still need childcare and I'd still want all of the niceties that make work possible which means my monthly minimum is stupid high. I'm not really a huge traveler so it's not worth it to me unless it also covers the early retirement house, which tbh is fucking expensive to build. And it's not like you can just... Stop working full time and assume you can stay competitive as a consultant or something. So I can't just say "oh well I reached 2mill so I'm good now and I can work half time and all of that is just extra". And realistically I'm risk averse, I don't want to spend twenty years in comfort and then have one of my kids hit by a car and be screwed because my financial plan didn't account for 500k in medical expenses before I was 70. So.. Yeah. If I get there I'll probably take six months off to build a house and travel a little, and then I'll get back into something part time so I can still create things. I like working as part of a team. I wouldn't miss the long hours and crunch time but going without any of that at all, forever? It's just not really retirement if I don't get to do what I love anymore even a little.
People do it on $500k in lcol areas Go read mr money mustache
Those people who retire on 500k are taking such a big risk imo. One crisis happens and you are screwed.
FatFIRE
Did you mean Fat Tire, because that's a good beer 🍻
Not sure why people are waiting for more than 2.5mil in the US. Peoples annual SPENDING is more than 100k excluding savings? If you aren’t putting money into savings, how would you spend 100k a year just on expenses? I’m genuinely curious. I have a completely different understanding of the FIRE number. Based on one example, can anyone add some of their major expenses?
With kids? Very much so.
Our monthly expenses are $14k. The breakdown is $6400 on housing, $975 on utilities and home maintenance, $1600 on food, $600 on car and gas, $1800 on personal, pet, and kids (i.e. clothes, activities), $760 on vacation & entertainment, $780 on other misc, gifts, donations, unexpected items, $680 on insurance, medical/dental.
$5M, 3% conservative SWR
What do you spend $150k / year on?
Plan a lot of travel, support a wife, put 2 kids through college, make sure we can afford healthcare for 10+ years till medicare
I dont see anyone answering this correctly... it all depends on your annual expense number and when you would like to retire.
Yes. Kids these days
And *where* cost of living & insurance costs are key.
Passive monthly cash flow of 20k through real estate investments
Same goal of having more passive income instead of focusing on liquid cash / net worth🤞🏻
Yeap. I fully agree. Owning a 2 million dollar home fully paid in the bay area doesn't mean much if you still have to drag your butt to work every morning to collect a paycheck.