FIRE by 54?
A bit about me if possible for FIRE by 54. Married 44 (spouse 50)
with 2 kids (10,12). Annual combined income 200k. We save about
25% total per year in wife's 401k and my SEP-IRA
1. 401k/IRAs/Roths/SEP-IRA/HSA: 960k
2. SFH rental. Market value about 500k
3. Taxable brokerage account: 200k
4. Main SFH home. Market value 750k
5. Inheritance in trust (equities/bonds): 500k
1. Mortgage on rental: 220k
2. Mortgage on primary: 380k
Expenses monthly: about 9k-10k
College expenses are not of concern as my wife's work will cover
up to 40k per year per child (that is also indexed).
Given this I used firecalc with some different scenarios and it seems
to always give 90% success or higher.
We would have to cover insurance for about 10 years, but I didn't count
that as kids will be out of private schools by then.
Am I missing anything??