Early retirement timeline: This is a call for help to all the smart people!

[Mindset]

Hey Mustachians! Need someone to help with the final figures on my FIRE plan. I'll give the numbers down below for anyone who wants to tackle it. By my estimation I'm around 12-14 years away from FI as of today.

Just as an FYI, I HATE my job and am looking for the shortest path to FI, but am MORE than willing to put in the hard work to get there.

1 kid now, 1 coming in September (woohoo!!!) Wife is a stay at home mom and we'll be homeschooling.
Income 2800/mo. net (52k gross/yr).
Budget: 900/mo. plus mortgage (1800/mo. being paid to principal plus 100 to interest on 53,900 @ 2.25% on a 5/1 arm). Should be paid off in 33 months max.
Wife has an Etsy business: to be conservative let's assume she makes nothing right now and say it never earns more than 500/mo. net starting when the mortgage is paid off (although she's already earning every month, we're looking for trends in her sales to determine what an accurate average is).
Once the mortgage is paid our budget will raise to 1100/mo. for charitable giving.
Annual investment to taxable account after mortgage: 26,400 minimum (Raises/Promotions will accelerate the process, but I prefer to err on the side of safety).
Looking for 25x spending needs after retirement plus a safety margin: 450k should suffice
The saving will start immediately after the mortgage is crushed. I'll buy index funds using a Betterment account.
No other debt beyond the mortgage.
Expected budget after retirement: 18k/yr.
By the numbers I would need 12k/yr. return to live on after subtracting 6k/yr. from my wife's business. By securing 450k in a taxable account we would never have to count on her business for survival (although she loves it and is amazing at it). I also feel like anything less isn't enough for emergencies' sake.

When I finally quit the job I will get a payout of at least 15k (pension and saved vacation) to add to my Betterment account and my 401k will be more than sufficient, which I will roll into an IRA.

We have other interests, like rentals, but for now we're looking to get me away from the J-O-B and we'll figure out what that looks like once I'm free.

I'm being conservative, for sure, but am I being unreasonably conservative?  I can figure the estimates easily enough, but I have a hard time knowing when to pull the trigger. Help me find the holes in my plan!!

Thanks!

Mindset Mustachian

[CommonCents]

How is your post-FIRE budget $18k if you are planning on spending $13200 ($1100*12) on charity?

Btw, you might ask to move this question to a better location such as Ask a Mustachian.

[Mindset]

Our total budget will be 1100 (only 200/mo. will go to charitable giving).

[Mindset]

Hey Mustachians! Need someone to help with the final figures on my FIRE plan. I'll give the numbers down below for anyone who wants to tackle it. By my estimation I'm around 12-14 years away from FI as of today.

Just as an FYI, I HATE my job and am looking for the shortest path to FI, but am MORE than willing to put in the hard work to get there.

1 kid now, 1 coming in September (woohoo!!!) Wife is a stay at home mom and we'll be homeschooling.
Income 2800/mo. net (52k gross/yr).
Budget: 900/mo. plus mortgage (1800/mo. being paid to principal plus 100 to interest on 53,900 @ 2.25% on a 5/1 arm). Should be paid off in 33 months max.
Wife has an Etsy business: to be conservative let's assume she makes nothing right now and say it never earns more than 500/mo. net starting when the mortgage is paid off (although she's already earning every month, we're looking for trends in her sales to determine what an accurate average is).
Once the mortgage is paid our budget will raise to 1100/mo. total (adding 200/mo.for charitable giving).
Annual investment to taxable account after mortgage: 26,400 minimum (Raises/Promotions will accelerate the process, but I prefer to err on the side of safety).
Looking for 25x spending needs after retirement plus a safety margin: 450k should suffice
The saving will start immediately after the mortgage is crushed. I'll buy index funds using a Betterment account.
No other debt beyond the mortgage.
Expected budget after retirement: 18k/yr.
By the numbers I would need 12k/yr. return to live on after subtracting 6k/yr. from my wife's business. By securing 450k in a taxable account we would never have to count on her business for survival (although she loves it and is amazing at it). I also feel like anything less isn't enough for emergencies' sake.

When I finally quit the job I will get a payout of at least 15k (pension and saved vacation) to add to my Betterment account and my 401k will be more than sufficient, which I will roll into an IRA.

We have other interests, like rentals, but for now we're looking to get me away from the J-O-B and we'll figure out what that looks like once I'm free.

I'm being conservative, for sure, but am I being unreasonably conservative?  I can figure the estimates easily enough, but I have a hard time knowing when to pull the trigger. Help me find the holes in my plan!!

Thanks!

Mindset Mustachian

[2Birds1Stone]

Is charitable giving work working a few extra years?

I would put that $$ toward FI and donate some time/wife's time to charity instead. Once you are FI then you can give $$ and make a greater impact.

[Mindset]

Yes, it is worth it to us. I can appreciate that not everyone chooses to do this, but we do.

[CommonCents]

It might be easier to process (and see gap issues - e.g. if you are forgetting to include house repairs) if you rewrote your first post to be more number oriented e.g

$900 Mortgage
$200 Charitable

etc.

There are examples out there stickied.

[forummm]

If you "HATE" your job, maybe you should look into doing something different. 12-14 years is a really long time to do something you "HATE". Are there no other jobs that you could get that would have similar compensation? It might even be worth it to take a pay cut to do something you love. What's money for if not to improve your life?

[MDM]

... By my estimation I'm around 12-14 years away from FI as of today.

Is that estimation from simple tools (e.g., the case study spreadsheet), or more sophisticated ones (e.g., www.cfiresim.com), or...?

Good job taking CommonCents advice and posting in this board.  To avoid diluting responses, you can lock your thread in the post-fire board and direct people here.

[thd7t]

How much time do you have before your ARM starts adjusting?  You have a great rate.  This is a good time to focus on investments instead of paying down your mortgage.  You can refinance if rates start to go up, but right now, you have such a low rate that you should seriously look at diverting all or most of that extra payment into investments.  I'm more conservative about this than most posters, here, but at 2.25%, you should hold on to that mortgage.  It's growing slower than average inflation.