Ideally how much your net worth need to be in order to retire comfortably as a couple? Not looking to have an extravagant lifestyle but do want to travel regularly.

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The basic rule is 25x annual cost after taxes.

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To the Author, there are some good FIRE blogs out there, many from people with children. Search out some of those for good ideas/advice. (SPOILER ALERT: None of them have saved $10 - $15 million)

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I would target 80k/yr minimum as a couple if traveling regularly.

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M1, SM1........disagree, thats not how MMT works. Its not as simple as "we keep printing and hence assets keep rising". There is more than a non zero chance of pushing on a rope and having long term US returns be zero or negative even with MMT everyday. Not accusing you of being cheerleaders for a hopelessly gone debt fueled system, but just saying, use 2% now instead of 4%. Best case you come out with way more than you need. Worst case you probably dont end up in a govt poor house in your 80s. Rest is up to each individual's choices and luck......

Based on what I’ve observed, there are different levels of FIRE that will impact what your expenses might be. For example, this range could fall anywhere across this spectrum:
1) Gypsy nomad living in a camper van / RV - you have cashed out your home equity and have practically zero recurring housing expense.
2) You retain the same house from your working years - paid off before you retired - so you just have to pay property tax and thus your recurring housing expense is low. (this is my plan)
3) You want a FatFIRE retirement and want to live it up with nice trips to multiple vacation homes. (I aspire for this but it would require more than my current plan)
My goal (with a spouse) is early retirement in 12 yrs at age 56, with a projected nest egg of $7M. The kid will have graduated college by then, and a 3% withdrawal rate would be $210K/yr - which is $156K/yr in 2021 dollars (assuming inflation of 2.5%). I’m also assuming SocSecurity will still be around at some minimal level, and this plan should last for at least 40 yrs until we’re 96. (and hopefully we’ll still have some leftover for our estate)

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A2 - the Option 1 level of FIRE is always available, if you want to live in a camper van / RV. But yes, based on additional 16 yrs of withdrawals (age 40 to 56) of $156K/yr, that would be an incremental $2.5M, so would need $9.5M nest egg at 40 instead of $7M at 56. However, the complication is that by retiring at 40 the house might not be paid off yet, so then yes, $10M is more likely the figure needed to account for approx $0.5M remaining mortgage balance.

And one thing that I’ve omitted is any passive income - that would provide some relief to the retirement figure.

$1.25M = $50k each year at a 4% withdrawal rate. I could also credit card churn to travel.

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This is for me and I live in a low COL area with no state income tax. This includes the assumption that my house is paid off.

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