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Additional Posts in FIRE Financial Independence Retire Early
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Vtsax vs fxaix?
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Coach
If you want financial independence in less than 10 years, then you’ll need to invest ~ half your take home pay. $7k per month won’t cut it.
So I guess I’d tell you to focus on cutting expenses and enjoying the taste of ramen?
At 31 I focused on being a good husband.
Biggest wealth building decision at 35 was taking a higher income job path.
Finically secure when my spendable net worth rose to be about 25x of my yearly expenses.
Subject Expert
Do you have a solid handle on how much you spend? And how much you want to spend in retirement?
Unless youre saving $200k per year for the next 10 years....not possible.
Coach
If they invested $200k per year for 10 years… then they would be 41 and wouldn’t be retiring in their “late 30’s”
Good luck if you have kids in there. Unless you’ve got a willing family member you’ll need childcare which is outrageous. My kids have drained me lol. Though we’ve done private schools too. And I’ve got 3 kids. Just saying a lot can happen in those years and kids are wonderful but so expensive, unless I said you’ve got a family member and do public schools.
Appreciate the feedback. I should clarify that we’re not necessarily pursuing traditional FIRE where we fully retire in 10 years.
The goal is more of a Coast/Work-Optional approach: build enough invested assets to generate ~$50k+/year (4% rule) to cover a meaningful portion of our expenses, while continuing to work, build businesses, and invest because we want to, not because we need to.
• If you were 31 again, what would you spend the next 5 years focusing on?
• What was the biggest wealth-building decision you made between ages 30-40?
• At what net worth did you start feeling genuinely financially secure?
If you’re planning on having a family and you’re aiming for only ~$50k/yr when you’re currently on track to be clearing probably $250k in the next 5-7 years I would say you’re probably making your Cost fire/work optional life harder than it has to be.
Being in your 40s & 50s isn’t old & life hasn’t passed you by; there’s no need to rush into a retirement phase. You could spend the 10-15 years working and building that next egg & letting it compound while you aggressively add to it. The change in lifestyle with just 5-8 additional aggressive years will be life changing.
If you absolutely hate the work you do then consider another role but you’re aiming for the bare minimum & at 30 you really don’t know all the curve balls life can throw you (especially if you add kids). I’d hate to see you lose the potential to live on $100k+/yr bc you began your CoastFI at 40 instead of 50 or even 45. Obviously it your journey & life but don’t get too caught up in the “retire early” that you destroy the opportunity to retire better.