Review and FIRE readiness thoughts

[patela6]

I'd suggest getting far more specific. In particular, do the math on income taxes as that "comes right off the top", isn't really controllable and (IMHO) can only go up from here.

Also, consider adding LTD insurance to the mix to cover any extraordinary nursing care or other issue. If you get to 33x, you be in the 3% range but something like a major illness could still flip your boat. Particularly as you will be retiring young. Lots of things can happen.

$2k/mo travel is fantastically aspriational. I hope you can get it all out the door every year!

Makes sure you budget for large occassional expenses (cars, roofs, etc.)

Also, have you started to think about your withdrawal strategy?

Great job.

Thanks ClosetGamer. I see your in London sounds like you've lived in the US and moved (back?) to the UK? Something I'm thinking of doing for at least part of the year in ER.

I am thinking of withdrawal strategy...something along these lines:

Spend from taxable savings between 50 and 60. This will mean I need to save another 3 or 4X expenses next 5 to 8 years. Possible, we'll see how that goes. I want to plan conservatively and not touch IRAs, 401k etc until 60. I know I can, I want to plan not to. Likely do IRA to Roth conversions between 50 and 62/63, this seems like the most popular topic on bogleheads at present.

Once I'm 60, ER practice is over and then I really start blowing the cash til SS kicks in for spouse and I. Post 70, I should have figured out the retirement game and be on autopilot re: expenses and withdrawal strategy.

I'd love to hear if others followed something similar to this above. Did it work? What would you have done differently re: withdrawal strategy?

Cheers!!