Huston55
Thinks s/he gets paid by the post
1. What has your annual spend been? What did you forecast it being?
2. Any of you downshift to reduced hours prior to RE? Anyone go back to work in some capacity?
3. Anyone RE with kids still in the house? How has that worked out?
4. What is your projected SS payout or current payout? Or how close is your projected or real SS to your actual spending?
FIREd in 2014 @ 58 & 56 yo.
1. Annual spend has been ~115% of pre-FIRE plan because we decided to move to a very high COL area (SF Bay Area). But, we’re still <3% WR.
2. Do a small bit of consulting for former Mega (~200 hrs/yr) because I enjoy it.
3. No kids, which helped us FIRE.
4. Our SS + two small pensions will cover ~half of projected spend when they’re all on line.
Not sure how much the info above helps you since everyone’s situation is somewhat unique. But, my advice would be:
- Semi-FIRE & work a reduced schedule for several years if you enjoy your work.
- Spend lots of time with your kids.
- Be sure to include kid costs & health care in your plans.
- Have a rock solid plan if you’re going to FIRE at such a young age; also have two levels of backup plans.
- Consider a “safety first” approach if you can make it work.
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