What seems to be a typical age to meet FIRE? Seems like it could be fairly easy to reach by the time you make partner.

Grossly simplified math: on average make 100k salary through 15 year career and save half, 50k per year (monthly investments of $4167), 6% interest rate and you’ll be at 1.15M. Of course huge variance due to many factors but this seems fairly reasonable to me

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Is retiring with 1.15M net worth enough though? I guess it is depending on the lifestyle after retirement. But if you are married with kids, you will definitely need more and probably wouldn’t be able to save $50k a year with $100k salary.

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I’m not sure I have being a partner in me, but think I could ride this role for about 5 years and probably make it to $2.5M. At that point I don’t think want to retire, but could potentially make a career switch into something a little more low stress.

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Well -2 kids, house, cars, 5 star vacations, business class flights don’t come cheap. 1.5M is not going to cut it. There is no way to sock away 50% of after tax $ anyway.

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There’s no typical FIRE age. It depends on your life style and earning potential

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+1 👏

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But once you make partner you’re making so much why retire then? The problem!

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Lol fair. I plan to exit long before then anyway, I guess that part of the q is irrelevant

I mean I have that NW but it's not enough to retire. Now I have a kid.

Life leaks ..

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The more I think about it idk wtf the point of this post was smh I guess I just randomly got excited about compound interest

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Only way to FIRE at that $ would be to retire in Mexico, Thailand, India, etc. I’ve know people who’ve done that successfully and are 👍.

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PWC1, can I join you?

If you make 100k a year you aren’t taking home 50k. 1.15M is not even half of what one person needs. Have one accident or contract one chronic health problem and triple it.

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Math does not check out.

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Why do people keep saying "this isn't possible" about living on 50K less taxes as a 1-person household?

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~1.2M isn't my FI/RE number. I'm still calculating one for myself as I know some spending increases with life. Thanks for giving your perspective, EY1. I hope you're hitting your goals at a rate that makes sense for you. 🎉

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You’re probably looking at a bit less per year bc taxes, health insurance, etc. Then house, cars, kids, lifestyle inflation.

Plan for $20k in health/yr, plus home improvement If you own.

$20k in what?

I think I have the FIRE mentality after I hit $1 M. I still work but I don’t care much about the boss’s views.

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