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How big was your nest egg when you FIRE'd?
Old 06-02-2017, 12:10 PM   #1
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How big was your nest egg when you FIRE'd?

I am getting super close to pulling the trigger. I was just wondering what your nest egg's were when you retired, not counting home equity? I am thinking it will be about $1.5M with a paid off house.
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Old 06-02-2017, 12:13 PM   #2
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>$1.5 million.
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Old 06-02-2017, 12:29 PM   #3
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<1.5 million
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Old 06-02-2017, 12:40 PM   #4
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>>$1.5 million. Why do you ask?
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Old 06-02-2017, 12:44 PM   #5
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Big enough.
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Old 06-02-2017, 12:45 PM   #6
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>1.5m
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Old 06-02-2017, 12:47 PM   #7
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36x my yeary expenses. I have more now then when I retried 4 years ago that's to mr market.
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Old 06-02-2017, 01:05 PM   #8
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approximately 9-10 times our highest Gross Income year--and 48-50 times our baseline comfortable-enough spending (not that we plan to limit ourselves to the baseline).

(edited for: "not including home equity")
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Old 06-02-2017, 01:08 PM   #9
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50x yearly spend.
The size of the nest egg means nothing without knowledge of spending
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Old 06-02-2017, 01:10 PM   #10
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This question misses some key points.... Like do you have other income sources?

Ours was close to your number... but we also have rental income, DH's SS, and since retirement I've started two (very) small pensions... We only pull 1/2 of our spending from the nest egg.

Plus - how much you "need" for retirement is HIGHLY dependent on how much you spend... We have lots of folks here with smallish nest eggs - but smallish spending... and lots of people here who live pretty large - and have pretty large nest eggs. And don't forget those folks who live quite comfortably on pensions and/or rental income and don't touch their nest egg.
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Old 06-02-2017, 01:11 PM   #11
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Oh - and I should add.... Congratulations on getting close to pulling the trigger, Shabby. Good job.
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Old 06-02-2017, 01:12 PM   #12
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<1.5M without pension
>1.5M considering value of pension
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Old 06-02-2017, 01:27 PM   #13
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Excellent, congratulations! We are about to retire with about the same but also have pensions.

I think spending is a calculated result not an input so focusing on your nest egg is a good approach.
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Old 06-02-2017, 01:27 PM   #14
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Relax, based on these numbers from last year--
What's the size of your portfolio?
you'd be really close to the median.
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Old 06-02-2017, 01:37 PM   #15
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Bigger than $1.5 million but smaller than $1.5 billion. A lot smaller than $1.5 billion.
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Old 06-02-2017, 01:38 PM   #16
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We retired when our "nest egg" (including NPV of pensions and FMV of rental properties) was 30X our projected annual spend. Any SS will be a bonus, if the system survives to our FRA.
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Old 06-02-2017, 01:42 PM   #17
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At retirement 17 months ago: 36x projected annual spending (actual spending has been lower).

Thanks to the market, we are now: 41x projected spending.

No pensions. Plan SS at FRA (4 years from now), when the portfolio will likely be about 100x annual withdrawal needs.

I think we need to spend more
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Old 06-02-2017, 02:00 PM   #18
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Initially about 35x predicted annual spending. Ended up being more like 55x annual spending in the first year of ER and in the 2nd year when I've gotten way into cycling and hiking (which have minimal recurring costs) it's heading for something ridiculous like 100x.

While the nest egg has grown by about 10% since ER this big jump is almost entirely because retirement is costing much less than I'd predicted. I really should have retired sooner.
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Old 06-02-2017, 02:03 PM   #19
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Quote:
Originally Posted by ABQ2015 View Post
<1.5M without pension
>1.5M considering value of pension
How do you determine the value of your pension?
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Old 06-02-2017, 02:03 PM   #20
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I think mine was about 48x my annual expenditures at the time. Right now it's about 56x thanks to the recent bull market.

As others have said, the absolute dollar value of your nest egg is irrelevant without knowing your annual spending level.
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