What are your FIRE numbers? I used to think mine was 1M, but now that I have consulting salary I’m thinking more like 2M or 3M.

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2.5M 4% SWR about 100k a year

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3.5 and I would be golden

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2.5 plus house paid off and I should be good. Perhaps a little more if CAPE is 30+ at the time.

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$1m is too low for any MCOL HCOL.

My cuz crunched numbers. 30 years of retirement life would require $3m. I don’t know what exactly he crunched though lol.

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It’s simple math of how much money you need pre-tax, then multiply by 25. That’s a perpetuity calculation.

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3.5 if I can make it to 40. Otherwise I’ll settle at 2. All my money is after tax for when I hit retirement, so I’m not too worried.

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A chunk in standard investments with tax payments planned. A chunk in Roth. Get ally, even an early penalty for Roth in a slightly above avg market is worth it.

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Over the last 12 years(age 24-36 post-college) I’ve earned around an average of $100-105k/year. I’ve decided to retire when my SWR at 3.33% is larger than my current income of around $75k...so I’ve got another $300k to go. I can’t fathom needing more than $75k/year...although, if I’m honest with myself I will probably just keep trying to find more and more fulfilling work rather than quitting paid work altogether. My last attempt at retirement lasted 8 months and I think what I really need to focus on is my girlfriend’s FIRE journey so that I will have someone to be retired with...if she retires, then I will leave paid work to travel the world!

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Safe withdrawal rate

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Just be careful in determining how much is "enough."

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2.5 is target but might take a significant pay cut once at 2MM. That’s with us owning everything. Pay cut to give back more to the community vs chasing the $$

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What’s the relationship between your consulting salary and your chances in FIRE numbers? Thanks!

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Happy New year 2022, dear Fishes!

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