this post was submitted on 11 Sep 2023
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FIRE (Financial Independence Retire Early)

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Welcome!

FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.


Flow Charts:

Personal Income Spending Flow Chart (US)

Personal Income Spending Flow Chart (Canada)

Finance Flow Chart (UK)

Personal Income Spending Flow Chart (Australia)

Personal Finance Flow Chart (Ireland)


Useful Links:

Bogleheads Wiki

Mr. Money Moustache - a frugal lifestyle blog

The Earth Awaits


Related Communities:

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[–] [email protected] 3 points 1 year ago (3 children)

What's your FIRE number? How close are you to achieving it?

I'm generally targeting $1,000,000 but could probably pull the plug sooner. I'm just under the halfway mark in pure $$$.

[–] [email protected] 5 points 1 year ago

$2 mil for some lavish comfort and not having to stress so much about a strict budget, or $1.8 mil for a easily doable 3.5% withdrawal rate. For both numbers I would want a paid off house to be able to manage my tax situation better.

I’m at about $700K in savings/retirement, $200K in home equity which doesn’t really count for anything in this scenario, and $250K left on my mortgage. So… not that close but honestly not that far if all goes well. Hopefully eight years or so.

[–] Sniffy 4 points 1 year ago (1 children)

Dang you're almost there! I live in HCOL area so $2M. I'm 5% to the goal 😢.

[–] [email protected] 4 points 1 year ago

Hah, I guess I should have also included how long have you been pursuing FIRE? I've been chipping away for 8 years now.

[–] [email protected] 4 points 1 year ago

My pie in the sky number is $4.5M, we’re about two thirds of the way there after working for 15 years. There’s a good chance I throw in the towel sooner, though, I’m super burnt out.

[–] [email protected] 2 points 1 year ago (1 children)

Of course, the one time I decide to skip the All Hands meeting it's the one where they make a major announcement about layoffs.

I'm pretty sure I'm safe, but in the off chance I am let go, I'm definitely dreaming about taking the rest of the year off before finding a new job in 2024...

[–] [email protected] 1 points 1 year ago

A friend took 7 months off between jobs and said it was the best decision ever. It was a full reset after being burned out. You should go for it!