I suppose I am posting this question to those of you in Fat Fire or those of you that retired after leaving a very lucrative income and standard of living. My "plan" has me retiring at the end of this year at 55. I have been fortunate to make a good living for many years while living significantly below my means. That said, I am planning for a min withdrawal of $300K/yr gross (underwriting 25% in taxes, but believe it will be much less with strategic acct withdrawals). I will most likely payoff my home mortgage the day I retire despite it being in the 3% range (still struggle with giving up the cheap money). As you can imagine, with no debt, this high of a withdrawal rate has a significant amount of discretionary spending. Plans are to do some of the usual more active traveling sooner vs. later and enjoy some of the finer things in life, and while I have 4 kids and 1 granddaughter I can burn $$ on, I really wonder how sustainable this kind of spending is after the honeymoon wears off. Are any of you Fat Fire folks consistently keeping your burn rate at a high level after 5 - 10 years? I know, 1st world problems, but more curious as to how long you kept your high withdrawal rate going before you slipped into your shorts and T-shirt and said that's all I need.
Perhaps I should ask it this way... Robbie - how many lobsters can you eat in 1 week?!
P.S. Haters don't hate...
Perhaps I should ask it this way... Robbie - how many lobsters can you eat in 1 week?!
P.S. Haters don't hate...