For the first time, I finally projected out the RE of my FIRE plan and I'm officially targeting March of 2020, at which time DW and I will turn 50. I sequenced my cash-flow out based on 7 passive income streams -- growth dividends, investment properties, deferred compensation, small pension, social security for DW and me, and 4% withdraw of 401k/ira starting at 60. I also have a "if I were to quit now" and even better "if I were to get fired now" plan, which are very doable. I feel both liberated and a bit reflective as I'm realizing I'm no longer 20 years old. Interesting.
Comparing the two scenarios, I'm finding that it's almost $50k a year difference between quitting now and waiting 3 years. Between living a life of reasonable comfort vs the potential to live a bit excessively.
How should I think about trading 3 years of my 40 year life vs an extra 50k per year? How would you all think about this?
Comparing the two scenarios, I'm finding that it's almost $50k a year difference between quitting now and waiting 3 years. Between living a life of reasonable comfort vs the potential to live a bit excessively.
How should I think about trading 3 years of my 40 year life vs an extra 50k per year? How would you all think about this?
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