O'Malley; Just curious-what do you anticipate your SWR to be when you FIRE? With such a long anticipated retirement, a withdrawal rate of any more than 3 percent would be considered unsafe by many. Personally, I'd aim for no more than 2.5 percent. And have you calculated the higher cost of those teenage years?
There are two phases to our retirement, pre and post 60. For pre-60, the plan is to spend down the taxable investments to $250k by age 60. I have mapped out annual spending which varies considerably, but averages $80k/year. A small pension of about $12k will be available at age 55 if we decide it is needed at that time. Base spending can be cut to $50k without much difficulty if funds are not performing ideally.
At age 60, the 401k type funds should total about $3 mil. I estimate annual spending of $80k with the $12k pension, and SS estimated at $25k that we can claim at the optimal time. This equates to a 1.5% WR from the 401k assets, which should allow considerable growth of the portfolio over the next 35 years.
As I have posted in other threads, I do expect some trepidation as we approach RE and have to switch from building a portfolio to spending it.