What’s your target retirement age and target net worth to FIRE?
Keep seeing all the bros wanting 10m in net worth before FIREing. I feel like I could FIRE easily on less than half that. So what’s your target FIRE age, target FIRE amount and family composition?
These people intend to retire by 35, realize they don’t have enough so they keep working into their mid forties, finally retire, and have an existential crisis realizing they didn’t really live the best years of their lives. Theyre the crotchety rich old people that live in resort towns
Hahahaha, as someone who grew up in a resort town - this aptly describes these people. Spend all life grinding for a number, divorced, affair with a young hottie, gotta work more. At 55, life has already passed by. Gotta buy a mansion in a resort town to make it feel like it was all worth it.
45, 20M
What's your current nw?
I plan for early retirement, in case I ever take a bad hit to the head or something else that puts me out of the field, but hopefully I can keep working until my dying day Currently 9M liquid
You made all that dough at qualcomm? Whats your yoe any thoughts into investment strategy?
I bought AMZN/NFLX for a while after NFLX went public and sold a few years ago. My TC is 300 at QC now, which is decent, but it went from 75k to 150k during my 15 years at Intel that ended in early 2023
I just want to hit 4M by 60. The kids should be out of undergrad and I want to have those expenses behind me before retiring. 4M should cover our lifestyle in HCOL Remember that your investments continue to make returns after retirement as long as you stick to the 4% withdraw rule.
target FIRE amount: 1.5M in today's dollars, adjusted for inflation target FIRE age: whenever I reach ^. My current estimates are late 30s, but luck or misfortune could push it by a lot either way. Current age: 28 TC: Currently 219k but probably 240k next week Family composition: In stable unmarried relationship, no kids
$10M (today’s dollars) @ 50. But really anything above $5M at 50 is fine.
Probably like 2.5-3m in today's dollars @ age 35. I could get away with 1.5 if it's not FIRE but just being financially free and working whatever job depending on my mood without having to TC chase to feel secure. IMO I think $ in retirement goes further because of better tax rates on capital gains. That and certain high monthly expenses won't be permanent (like child care, mortgages).
5m @ 40 (with kids)
I need 7M and all the kids to graduate college. So not so ''early''
Have a kid too. Why do you need them to graduate college as opposed to graduate high school? Is it 7m just for you or for both you and your spouse (assuming you are married)?
I'll pay for college. If 529s don't cover it, I'd rather work a few more years to cover it. 7M for both. That comes out to about 400k per year, until we reach age 100 assuming 5% annual return. I think that's conservative enough but I'll reconsider when it's closer.