@firenow, I don't think you came here for opinions. I think you came here looking for cheerleaders to validate your strategy. You are not getting that for good reason: Your idea is beyond crazy, but people are trying to be a little polite so they aren't saying that so directly.
Proof of my theory is that whenever someone points out problems with your plan, your reaction is to argue with them and insist that it is sound. Fine. You think it is sound. Go ahead and gamble with your kids' and your wife's lives. It's a free country. But you will not find a consensus of cheerleaders here.
I am not going to pick apart all of your ideas, but they all seem to be based on best-case assumptions and very naive understanding of almost everything (like investments). I will tell you my experience: Life is not best-case, even usually. And the worst-case you can imagine is not the worst case. The worst case is a black swan that you can't even conceive of right now. Black swans are like that.
But, hey the plan might work. The Pope may start ordaining women. But neither is very likely and that is what people here are trying to tell you.
Let us go with all worst case assumptions
I budgeted for 2.2k per month. Let us assume 2.5k. Or even worse 3k.
Now let us assume the market tanks like in 2008 and comes back up averaging 4% across all the time.
Seeing the downturn of the market, I will immediately add some part time work or IT contracting work. That will keep my capital same. Or infact it will even make it better.
We can always react to those downtimes and unexpected situations. Also I am not too old that I have to worry about not being able to go back to work or part time gigs.
As long as I keep my expenses in check and slowly increase my capital, there is no problem. Given my frugal nature, I just cant see my capital go down. I will do something to bring it back.
Yes an additional year or a few years will give me more safety net. But there is honestly no end to this my friend. I can keep giving myself excuses and continue accumulating.
Excuses:
"3 more years to 1.1M so that I feel safe"
"3 more years then to 1.5M so that I can pay kids college"
"3 more years then to 2M so that I can leave kids money"
"3 more years then to 2.5M so that kids will have a million each atleast"
"3 more years then to 3M so that I can start living lavishly now and leave kids so much that they can reitre early"