Rich_by_the_Bay
Moderator Emeritus
For those yet to FIRE:
Is your target a dollar amount (which will support a desired lifestyle, security blanket, etc.), or is it a date (FIREing regardless of whether a specific asset amount has been reached, with appropriate lifestyle adjustments depending on the actual amount when the date is reached).
Let's assume that in both cases the asset amount is large enough to FIRE without being reckless.
I find myself moving a bit from the date target to an assets-on-hand target, probably a little more practical. It also holds the promise of FIREing sooner if the market surges. I should probably have a fail-safe date, too, so I don't fall into the trap of waiting too long and wishing I hadn't.
Is your target a dollar amount (which will support a desired lifestyle, security blanket, etc.), or is it a date (FIREing regardless of whether a specific asset amount has been reached, with appropriate lifestyle adjustments depending on the actual amount when the date is reached).
Let's assume that in both cases the asset amount is large enough to FIRE without being reckless.
I find myself moving a bit from the date target to an assets-on-hand target, probably a little more practical. It also holds the promise of FIREing sooner if the market surges. I should probably have a fail-safe date, too, so I don't fall into the trap of waiting too long and wishing I hadn't.