Background...
- 4 to 5 yrs from FIRE (targeting age 55)
- By then, all 4 kids will be thru with college, but may have 2 more weddings to plan for, otherwise, it's time for me and DW to have "our time"!
- Self employed my whole life, DW has been a SAHM for almost 26 yrs, no pensions, it's just me and my investments
- investable assets include an AA of stocks/bonds (funds/etfs) and RE investments.
- No debt other than some on primary residence with plans to downsize and pay cash for last house when FIRE
- I have been exploring the different models many in FIRE have employed and so far primarily run my modeling based on a SWR of 4% with an AA of 75/25
- My plan (and I am tracking) is to jump into FIRE with a target of $200K after tax per yr (I realize that may seem excessive to many, but that is my goal based on my plans... at least for now)
Questions for particularly those of you who have been in FIRE the last 10 yrs and have ridden thru the market ups/downs...
- What strategies have worked best for you?
- What didn't work, what did you change?
- Based on your objectives 10 yrs ago, where do you stand today in hitting those goals (both in income and current asset value)?
Let me state some of the obvious and what I have heard from others which may answer some of my own questions...
- Practices I have heard include dividend harvesting, AA rebalancing/harvesting at some planned SWR, bucket system,partial annuity usage along with other assets
- obvious fall backs include cutting expenses, going back to work full or part time.
Clearly, those of you who have pensions, SS, working spouses, or you still do some kind of part time work that covers a significant part of your FIRE expenses, your risk/perspective will be a little different. My question is more geared towards those of you who have been relying 100% of your assets to fund your FIRE life.
- 4 to 5 yrs from FIRE (targeting age 55)
- By then, all 4 kids will be thru with college, but may have 2 more weddings to plan for, otherwise, it's time for me and DW to have "our time"!
- Self employed my whole life, DW has been a SAHM for almost 26 yrs, no pensions, it's just me and my investments
- investable assets include an AA of stocks/bonds (funds/etfs) and RE investments.
- No debt other than some on primary residence with plans to downsize and pay cash for last house when FIRE
- I have been exploring the different models many in FIRE have employed and so far primarily run my modeling based on a SWR of 4% with an AA of 75/25
- My plan (and I am tracking) is to jump into FIRE with a target of $200K after tax per yr (I realize that may seem excessive to many, but that is my goal based on my plans... at least for now)
Questions for particularly those of you who have been in FIRE the last 10 yrs and have ridden thru the market ups/downs...
- What strategies have worked best for you?
- What didn't work, what did you change?
- Based on your objectives 10 yrs ago, where do you stand today in hitting those goals (both in income and current asset value)?
Let me state some of the obvious and what I have heard from others which may answer some of my own questions...
- Practices I have heard include dividend harvesting, AA rebalancing/harvesting at some planned SWR, bucket system,partial annuity usage along with other assets
- obvious fall backs include cutting expenses, going back to work full or part time.
Clearly, those of you who have pensions, SS, working spouses, or you still do some kind of part time work that covers a significant part of your FIRE expenses, your risk/perspective will be a little different. My question is more geared towards those of you who have been relying 100% of your assets to fund your FIRE life.