In what condition would you consider retire?

A. My investment/401K/IRAs reach $3M (or 5M or a number);
B. My investment can generate income (dividends/interest) that equals to 75% (or some %) of my current salary;
C. My mortgage paid off or/and kids college paid off;
D. When I reach 62.5 yr old (or certain age);
E. Some other consideration (please specify)

One of the above, or some combinations of above - please specify.

F. None of the above - I'll keep working until I kick the bucket :-)

likehelpful
Posting as :
works at
You are currently posting as works at

E. when you can afford annual healthcare

likesmart

G. Stole rich on crypto or lottery

like

A or B. You can always "retire" then work a lower hours, lower stress job to keep health benefits (I think this is called barista fire)

like

Agree with EY1. My best friend left her teaching job and has been working in retail while she figures out her next steps. She’s SO much happier.

like

If not for healthcare costs, I would take A or B.

How do you forecast health care costs?

A or B. If A is enough that I can continue to invest and grow networth/ live on. B if all my investments can give me around 15K a month. Healthcare will suck but by then I won't have childcare so I guess we can afford it.

E. Given A or B > your expenses (including medical care!) AND you have something to retire TO, not just from. It is important to have a retirement plan that goes beyond money. What are you going to do with your time that is beyond “play golf” - especially if you have ADHD (me) and even more especially when you are so young you will not have many age mates to do stuff with. Life can get boring.

Yours truly,
Failed retiree with A, B & C but not even close to D

Healthcare is a stealth wealth tax.

B+C

Related Posts

Any tips on switching industries within consulting (particularly financial services to healthcare) when my current industry has an abundance of work and no need to let me go to another industry?

like

I receive RSU every year and a portion vests every year. What is the best way to manage the tax implications on these? I tried moving it to 401k to avoid taxes but was told I could not do that. What do most people do with these?

like

Which industry (Healthcare vs. Financial Services) has the higher demand for privacy professionals (risk and compliance)?

like

Hey guys,

I recently joined tcs and they told me to work at the Qualcomm office.

How will Qualcomm. What are benefits to the employee who comes from other companies to work at Qualcomm

How do you guys invest on gold? Is it just buying the biscuit or do you invest in their stock/ETF?

like

I’m so confused about tax. I haven’t moved to NYC yet (I will in 2021) but my paycheck has NY tax deducted. I have been living and working remote in Texas. Shouldn’t I be subject to Texas tax, not NYC?

like
like

I have to send over 30k$ to my NRE account for my wedding. I have already sent 6k$. I know if you send above 10k to India then you are taxed. Please let me know if anyone else had an experiencing with transferring large sum to India.

Can someone share the list of how to manage/invest your money and in which Order ?
I remember seeing a list somewhere here
Thanks

like

Hello! What does everyone do for health insurance? Are there any unions or anything we can join to get better rates for family healthcare?

like

We started back in August in distance learning mode, core subjects only. So no STEM classes. One of our 8th grade teachers was out on maternity leave, so I was asked to take that spot for the first semester. I was a long time 5th grade teacher, so not a difficult adjustment, except for learning new to me digital curriculum.

I have 2 STEM classes for the second quarter. Still online, so my focus is on coding.

Wondering what other STEM teachers are doing online?

like

I may lose a job opportunity because of my credit history - what can I do?

Started in *May* - Prior to signing everything, I expressed concern to the recruiter about the credit check. Honestly, it’s not great but it’s not terrible. The recruiter told me many times to not sweat it because it the background check was the main thing. And that we could talk through anything on the credit report. Now HR is telling me they may rescind the offer pending review. I’m crushed. What can I do?

What is the difference between the traditional and project paths at Deloitte? Recruiter mentioned no expectation to do firm initiatives on project path but did not go into detail if there were any differences in benefits.

like

Current thoughts on buying INTZ? It’s revenue is through the floor right now due to COVID but forecasts show strong growth potential. My background is in engineering but I have some financial acumen. I would appreciate anyone with a much stronger financial background to give their input! For whatever reason I can’t post this is another bowl.

like

I currently own a home but know I'll be looking to upgrade in 5-7 years. Should I invest more money in the market, or hold all my cash for the down payment? If I should invest, what are some good ETFs/funds to invest in for this time horizon?

like

Anyone from deloitte got details on the MD pension plan? (Not partner)

like

Hi all. I’m working on a new project that deals specifically with the Black experience in healthcare and was wondering if any Black folks had the time to talk about their own experience? I’m NBPOC and the team (entire company really) is very white, so it’s important to me to get feedback from the actual people this product will be marketing to. DM me if you have time to chat! I appreciate it.

like

Work travelers: how to not feel ripped off? Travel replaces personal time, only time w/ friends is on weekends home, and I don’t get extra $ (no per diem, just actuals). What benefits am I not seeing?

likehelpful

Is it crazy to leave biglaw after one year for a corporate counsel position? Hate biglaw culture, don’t like my practice area and know it’s not the long term play but still wonder if there are benefits to sticking it out for another year or two (besides the money). In house has always been my goal so why not make the jump now?

like

Anyone at GSW or who’s worked there know if their PTO and benefits are good? Do they have the week between Christmas and New Years off? Currently interviewing!

likesmart

More Posts

Can we open Gmail from KGS laptop? If yes, how? If not, is there any other way?

like

Is Binance US still allowing withdrawals?

like

Hi fishes,

My interview with Microsoft for SE2 was scheduled and cancelled a day before. Neither I received any email regarding cancellation nor the recruiter informed me. Two days later I got an email saying Microsoft is freezing hiring for certain departments and the recruiter is ghosting me. Will I even get a chance to interview atleast?

like

Anyone knows best place to buy those cutting chai glasses online?! Or those kullad cups?!

like

Collecting data on a potential entrepreneurship idea for a marketing CRM of sorts. What I have found is that most ppl in marketing do not have a specific tool that they use in order to coordinate and connect with marketing agencies. For ex. I was working on a webinar and needed to work with a few diff agencies to draft up creative and copy assets. Everything was done via email/docs. Would have been nice to have a CRM to organize and bring transparency to coordinate the project. How about you?

like

Anyone willing to chat about a PEPI M&A Services role I'm shooting for? Would really appreciate the networking.

Hi All, i got an offer from Infogain India Private Limited and Coforge . The package is same , which one is better. Please suggest.

like

I was just informed that I am going to be extended an offer for AWS Proserve. What is the pay schedule for AWS… I thought she said that payday was once a month… I didn’t know if I heard this correctly.

like

Do you ever conduct the hiring process for a research project? What do you look for in potential hires?

like

How hard is it to switch from Audit to consulting? I’m currently based in Europe but plan to go home to the Middle East. I’m in AWM for funds. Thanks alot!

like

If I apply to take FAR, are states still processing applications?

like

Does anyone ever smoke weed before work? I just did lol and am a bit nervous about this morning now

likesmart

Deloitte new hire (boomerang).. tax manager..start in July. Will the first week onboarding/orientation be at DU? Or home office. TIA

like

Left PwC as an experienced associate and currently in industry doing staff accountant work. Now I’m thinking about going back to Risk Assurance. How dumb am I?

like

Hi fishes!! Does anyone have idea on the expected hike in internal transfer from IGD to IDC? Current stock level: 59, expected: 61-62, expected role SDE 2. Also how long does the process take?

like

Hello Everyone
I have an offer from pwc for a senior associate role for 6 yoe 22Lpa, I have another offer of 25Lpa.

any suggestions pwc revise offer or match the ctc of another company.

Hey guys,
I am preparing for workday interviews( recruiting), can anyone let me know how to prepare, if any YouTube channel that can help.. having experience of 2 years

Thanks in advance!

like

Anyone who has transferred from IT audit to Cyber - how have you found the transition? What are the similarities between the roles?

like

Which is the best way to find a job in London ?
Any apps or recruiting agencies ?

like

Happy Halloween! Who says Financial Professionals are not creative? Share what you dressed up as for work today?

like

Additional Posts in FIRE Financial Independence Retire Early

If my math is right the new ibonds rate will be 6.2%. this is right about where I thought it would be surprised "the market" was expecting lower.

Is buying a home early a smart investment decision?

I’m 21 and grew up in a poor family so I’ve always been extremely aware and conscious about money. I need all the financial advice I can get!

like

I have 140k invested in mutual funds/stock market. I have a 110k mortgage with 3.25 APR until 2028. Do you suggest keeping the mortgage until 2028 or payoff by selling the stock/mutual funds.

likehelpful

How do I start building rental property portfolio so I can FIRE?

like

Have money invested in S&P 500, and now starting to regret not having diversified to international stocks as well. Would want to diversify now to buy a total stock market index, however since S&P 500 dropped more than that index, not sure it’s worth to crystallize losses to do that. The alternative is to stop buying S&P 500 and start buying other markets as separate ETFs, to eventually bring in line approx. with total stock market index. Any advice on the best course of action?

like

This may be a stupid question but how do people FIRE mainly with retirement accounts and why is there so much focus on maxing these accounts when you can't access them until you're in your 60s?

like

I have 401(k)s from previous employer, which I left as 401(k) instead of converting to an IRA so that I could backdoor Roth without complications.

Should I consolidate my previous 401(k)s into the same administrator if I like their investment options, or is there a benefit to having separate accounts for flexibility if I never need to withdraw “substantially equal periodic payments”?

like

Net Worth (factoring in cash, retirement, stock, mortgage, debt, house value) = 1.2M (Retirement accounts + stock are $1M alone) 38/M married, joint money. How are we doing?

like

If I roll my old employers 401k into an IRA this year, am I correct in thinking that what I contributed this year in that 401k still counts against my 401k contribution limit?

like

What if ‘likes’ here became a new form of crypto?

likefunny

When we are on the FIRE journey, every penny counts. In that essene, will you move from a HCOL to a state without state income tax?

like

what are some mutual funds that you recommend?

like

Who is working on building a retirement base, then quitting consulting but getting a job for day to day expenses? Think seasonal national park work, etc. (have done before, know I love it.)

like

Does anyone recommend getting a financial advisor of some sort? What companies are most reputable and actually worth using (not looking for a slimeball selling me crap I don’t need)
Money between brokerage, savings and retirements is approaching $1.5M and I want to make sure im not doing something dumb as I have been managing myself
Goal is to retire before 59.5; current HH TC is $800k+ right now
Both early 30’s

like