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View Poll Results: When would you retire?
Lean Fire @ 54 4 2.26%
FIRE @ 55 39 22.03%
Fat FIRE @ 56 76 42.94%
Obese FIRE @ 57 58 32.77%
Voters: 177. You may not vote on this poll

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Old 01-28-2020, 07:54 PM   #41
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I’m just under your age and pulled the trigger last year.

Are you confident you have your expenses right including buying health insurance? Also a recent thread found many of us spend on average $15k per year on repairs and home improvements you may have dismissed as “not happening again”.

After leaving my fin advisor, I am down to 2.5% SWR until SS and a nonCOLA pension kick in.

Are you defining FAT fire as over $100k spend (location dependent if that’s fat) or like $50k over your current spend rate after meeting insurance?
We are using the same budget we are on now as our base for fat FIRE. It is generous. I am a military retiree so we have free health care for life. We do have line items for dental and vision if we choose to carry that, but we may self insure. We have $9k / year in the budget for the house.

Fat FIRE is our current budget and includes everything except BTD. It sits at $117k / year. Anything over that is BTD. We are moving to OH to retire. At least that is where we will start.
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Old 01-28-2020, 10:44 PM   #42
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The earlier chart showed 136k was Fat Fire spending.

You’d be solid at this SWR<3 even by any conservative measure.

But if you like your work and it doesn’t bring stress home, put another year or two in.

For me, the deciding factor was this year was moving my parents to a retirement home and the last few years with my kids home so that expedited my choice.

Oh and the dog, he’s the real reason.
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Old 01-29-2020, 10:33 AM   #43
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I didn't vote, but I like having options; so I'd opt for a fatter fire if easily achieved. Some things that would be nice to be able to do if desired (beyond the BTD considerations):

Help kiddos avoid or reduce need for school loans
Help kiddos with first home purchases
Help parents/in-laws if needed later in life
Spoil grandkids if/when time comes
Help grandkids avoid or reduce need for school loans
Added flexibility for spouse, if one of you needs LT Care

Many of these may not ever be needed....but it would be good to have the assets/income to choose to ---or not ----if ever a time comes.
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Old 01-29-2020, 12:04 PM   #44
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I do enjoy my job. And I am working for / with my friends so it's a secure environment.

Interesting day yesterday that may or may not impact my decision. I have had laryngitis for a few weeks. Went to the doc and tried antibiotics. Then tried steroids. No worky so saw the ENT yesterday. Appointment was @ 2:30 pm. He came in at 2:35 and by 2:40, he had determined my left vocal cord was paralyzed. Then he got very serious and said that this is usually caused by lung cancer or a tumor. Well, crap. 20 minutes later I'm at the hospital getting a CT+ of my head, neck and chest. Now I am sitting on the couch waiting for the verdict. Even if I don't have that bad stuff, I still can't talk well enough to work so I have to have surgery to fix my voice. I'm a rainbows and unicorns kindof guy, but this one is a bit tough. My wife was crying and told me to go $&*! my unicorns. So we had a bottle of wine. Life is a funny thing.
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Old 01-29-2020, 12:21 PM   #45
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Fingers crossed you hear good news, corn!
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Old 01-29-2020, 02:27 PM   #46
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Wishing you well! I voted Fat Fire but that changes 100% with this oh sh*t moment.

My new vote is good health, and good news for you.
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Old 01-30-2020, 12:35 AM   #47
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Best wishes on a speedy recovery.
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Old 01-30-2020, 07:07 AM   #48
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Update: no cancer. Surgery tomorrow on left vocal cord. Life is good.
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When life flashes before our eyes
Old 01-30-2020, 07:39 AM   #49
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When life flashes before our eyes

Cancer-free? Fantabulous!

Don't rush into any decisions, but let your mind process the close call thoroughly and see if it guides your priorities.

Once again, great news!
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Old 01-30-2020, 08:29 AM   #50
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Woohoo! Great news!
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Old 01-30-2020, 12:13 PM   #51
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Great news and hoping for a quick recovery!
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Old 02-01-2020, 01:54 PM   #52
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Based on the below graph, when would you retire?
All you need to know is when you're going to die, and how much longer you're willing to trade your life energy for money.

I'd suggest that the 4% SWR is the tripwire for "enough", and with Social Security (for Americans) insuring against portfolio failure.

You'd also have a good probability of spending the rest of your life with "more than enough".
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Old 02-01-2020, 02:27 PM   #53
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Congratulations on your great news. I hope you enjoy an easy and quick recovery.

I’m inclined towards Fat Fire if w*rk is not painful, even more so if it’s at all fulfilling.

I’m planning to drop down stepwise, from 100-80-60% every few years as a long tail to my own career, as I enjoy helping people in my work, and to continue the health care train longer. Turn my regular j*b into my retirement j*b.
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Old 02-04-2020, 05:53 PM   #54
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I did not base my retirement on just a net worth. I based it on when I would be covered by other health insurance (Tricare).

Yes, I am probably more paranoid than most but I have had two family members that had rare medical conditions and their care cost literally millions of dollars. I did not want to leave work and then find myself in a bind. Plus, I found my career field to be intellectually interesting.

So, as a result, when I finally decided to leave work, my finances were definitely "obese". I was able to spend more time with my mother before she passed away and visit an uncle before he passed without worrying about having to hurry home. Plus extend my visit when my grandson had to be rushed to the hospital for a few days stay. Working now on traveling more and ensuring all grandkids have a healthy 529 account so no loans will be needed (and maybe something left over for their kids, especially if they do the tech school route).
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Old 02-05-2020, 11:31 AM   #55
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Great question. In each scenario, the base budget is @ 99%. The BTD is VPW to age 80. If we are broke @ 80 it's because we chose to be and we will have to find a way to live off of $107k of COLA pension + SS / year.
Nice problem to have.
Similar situation I guess. I am 59 now and will retire in July just prior to my 60th. Padded (fat) annual expenses of 72K annually and we will have annual income of 110K COLA'd pensions +my SS at whenever I decide to take it. Just hit 1M in investments and 200K in cash. I should probably leave now but presently helping out DS with getting situated and then all should be fine.
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Old 02-05-2020, 11:47 AM   #56
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I find the number of votes for Fat and Obese FIRE interesting. With the number of retirees on this board that report, "I retired with X, and years later I now have 2X."
Seems like for the majority of retirees, they could have left earlier. In fact, more than a few have said exactly that.
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Old 02-05-2020, 05:59 PM   #57
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Don't care enough to do the poll
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Old 02-05-2020, 06:03 PM   #58
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Don't care enough to do the poll
So why did you post?
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Old 02-05-2020, 06:19 PM   #59
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So glad to hear that no one will be fornicating with unicorns. Here's to your health (and mine).

I voted for FAT fire. There were plenty of times in my younger days where I was literally counting pennies and putting back a package or two of ramen noodles because I was a few cents short. I never want that feeling again. In fact, I do not even want to budget that close. If I need 6K for something I just round up to 10K to make sure I have enough. If I think 500K will be enough in the 401K I will wait until I have 700K in there. I am already there but the job at 32 hrs/wk pays too much and it is easy. Getting close though.
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Old 02-05-2020, 06:46 PM   #60
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So why did you post?


Ok. Fair enough. I'm the first one to ever post with a sarcastic remark.
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