How are you all feeling about the market situation and the potential for a correction happening immediately after we FIRE?
I am not sure that the downturn will happen immediately after we FIRE, it might be a few years out still. However, I do see that the possibility of a large correction happens right after, so this is what we are doing:
1. Rental property is expected to produce approximately 45% of our padded FIRE budget
2. Investments will cover a hair more than our padded FIRE budget (rental income excluded)
3. Livable FIRE budget is about $9k less than padded budget (DH has committed to making these cuts if necessary)
4. Bare bones FIRE budget is about $4k less than livable budget (DH has committed to making these cuts if necessary)
5. I put 2 years worth of livable FIRE investment income into a CD ladder earlier this year
6. We are prepaying several expenses from next year this year while we are working
7. Saving this year for healthcare costs next year
8. We are staying in the United States or close-by in Canada for the first 9 months of FIRE so we can change plans, or we can get work
9. Once at our first FIRE destination, Argentina, husband and I will both be able to work, and have very easy access to decent paying service industry work through family connections
TL,DR: I am scared about taking the leap, so I made a 9 point list!