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Hi, I'm leaving Citi in 2 months.It's hard to make this decision. I have an offer from a small startup.In citi, my previous experience was not considered and was reskilled to different tech which is the reason for change.I don't like to exit citi. As I like the company so much.But considering my current knowledge,I am in the middle of the sea.I am afraid now that the new company's offer would be revoked due to this recession?Or can I take back my resignation in citi before the last working day.Is this wise decision?
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One of the many blind spots of fire (see no 3)
What people are actually surprised by after FIRE:
1. They don’t want to stop working
They wanted control, not zero work.
2. Identity takes a hit
You lose structure, status, and a built-in sense of progress.
3. “One more year” is hard to escape
The goalpost keeps moving once you’re close.
4. Spending doesn’t drop like expected
More time = more travel, hobbies, and lifestyle creep.
5. Market swings feel different without income
Risk tolerance shrinks when there’s no paycheck.
6. Partners aren’t always aligned
Different risk and lifestyle preferences create tension.
7. Kids complicate everything
Expenses become less predictable and harder to control.
8. Too much free time isn’t automatically fulfilling
You need to rebuild structure intentionally.
9. Most didn’t need full FIRE
Partial freedom (less hours, more control) often achieves the goal sooner.
10. It doesn’t solve purpose
Money removes constraints, not existential questions.
Spot on 100%
Why are you changing it? I raised the goal I had pre kids ($3m) and post kids ($6m), but most of that is to fund their 529s ($1m goal), start them each with a trust they can access at 30 ($1.5m goal) and extra for retirement to buffer against healthcare subsidies being non existent.
So the goal was raised, but not arbitrarily
May be when I was looking at this number from a distance, I was too scared to target that high.
I understand this. Once we had our second (and final kid), bought the house we plan to stay in and pay off, and figured out more accurately what our budget will be raising 2 kids, we also made adjustments. When my husband was a young, single guy his number was $2M. As a family with 2 kids in HCOL our number is $6M plus a paid off house.
Sounds like you should talk to a therapist because your feelings of financial insecurity are coming from more than just a lack of dollars in your account. Saying this as someone who can absolutely relate.
Extreme interpretation of my words.
My post didn’t suggest any insecurity or lack of money. The point was simply this: as you get closer to a financial target, the target itself tends to move.
We are in a similar position. In 2019, we set a target of 2.5M before kids. We have more than that now and we’ve raised our goal. $5M and a paid off house would be ideal
Well, the key question is will you be ready to hang it up when the FIRE target is met? If not, yeah, it’s another rat race.
With time & money , you start seeing things differently - may be this is called “greed”. I realized that every extra million NW add just $2K/month post taxes.
A combination of inflation after COVID, new expenses with growing kids, improved lifestyle, and drawn towards luxuries.
Subject Expert
I don't get it. Why are you raising your number? How much are you spending? When do you want to retire?
Subject Expert
OK. Enjoy, and I hope your processing reaches a good state. :)
My number keeps increasing because kids sports, experiences, and quality time are expensive!!!
That’s one big factor! This number stretches up as your bank balance increases.
You need to start looking at the tax implications of your withdrawal strategies. Much over $3MM invested means you could hit tax thresholds that are suboptimal. How much do you really need to live off of it you aren’t saving or working/commuting? I’m working on having my husband see this situation at $4.5M total with $3.5M invested. If we could just change our current lifestyle we are more than done. Also, we will inherit $ we never planned on, so moving that down to the next generation in a tax efficient manner before our own death is also a goal. Take a sabbatical or mini retirement?
I am interested to know how you reached there? How much you invested and where?
~500k at age 40 with 10 yrs in US. Because of COVID, we started realizing how unpredictable life is and that we need a good plan for a good financial future for our growing kids.
Started budgeting and projecting. And started following:
- max 401k for self n spouse
- SIP in brokerage a/c
- diversify by investing in rental properties
A big portion of our NW growth (around 50%) in the last 6years (from NW of 500k to ~3M) is from:
- 50% real estate appreciation and return on the investment
- 50% is from disciplined and boring investing (avg. 200K/year in the last 6 yrs)
Where were you in 2020?
It is normal to increase your number. Just look at how much more expensive things are now compared to a decade ago, and who knows what the cost will be in another decade. I personally want to be able to use the 4% rule, and am willing to bend it to 5%, to replace 80% of my income before factoring in a hopefully still solvent social security. My biggest realistic fear is bridging the health insurance gap between retirement and Medicare eligibility