I've recently started reading about the FIRE movement. I enjoy reading in this community and would welcome ideas. My stats below
39 Y/O and live in NYC suburbs
Just over $3mm in net worth; over $2mm sitting in cash in taxable account
$120k mortgage on a home for parents
Rent and live well below my means
I believe I could retire now given my standard of living, but am doing well in my career and will continue to work until at least 45. I expect I should save another $2-$3mm during that time, not including any appreciation on current investments. Depending on how my career and life progresses I could continue working well beyond then, but see that time as the next marker.
Biggest issue I have is getting capital deployed. I've sat on the sideline for way too long and have not been comfortable with entry points. I did deploy a couple hundred thousand at the bottom in March but know that my money is not doing anything for me.
Open to ideas and feedback. I don't think I would look at situations where I'd work less or start a business. When the time comes I plan to be out and will not worry about work ever again.
39 Y/O and live in NYC suburbs
Just over $3mm in net worth; over $2mm sitting in cash in taxable account
$120k mortgage on a home for parents
Rent and live well below my means
I believe I could retire now given my standard of living, but am doing well in my career and will continue to work until at least 45. I expect I should save another $2-$3mm during that time, not including any appreciation on current investments. Depending on how my career and life progresses I could continue working well beyond then, but see that time as the next marker.
Biggest issue I have is getting capital deployed. I've sat on the sideline for way too long and have not been comfortable with entry points. I did deploy a couple hundred thousand at the bottom in March but know that my money is not doing anything for me.
Open to ideas and feedback. I don't think I would look at situations where I'd work less or start a business. When the time comes I plan to be out and will not worry about work ever again.