Any reach their FIRE number and keep working?

[beer-man]

As I get closer to my number I find myself less obsessed with aggressively pursuing it. My attitude towards work is also changing. Can anyone relate? I’m still a few years away but could possibly blow past my number and keep grinding away at work. Anyone done this?
 A change in market conditions could extend this but my number is based on a 4% return 


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[onlykelsey]

I don't have a firm number, but my stash would currently throw off about 20K a year (NW 750K ish but some tied up in house or retirement accounts I wouldn't be able to touch immediately as a millennial).  I'm struggling to parlay that in to more confidence and less angst at work, frankly, but it makes sense!

[DreamFIRE]

I’m still a few years away but could possibly blow past my number and keep grinding away at work. Anyone done this?

Yes, I hit a number to provide a comfortable FIRE some time ago, but I don't consider my work to be "grinding", so I've continued working longer (and will for maybe another year) while waiting to see how things shake out with the ACA, which still presents uncertainty.

[mak1277]

I am technically at my FIRE number (using a 3% withdrawl rate).  I have some significant golden handcuffs at work, though, so I'll be working most likely another two years before pulling the plug. 

[SugarMountain]

Yes, we're currently at about a 3.5% number and I haven't quit yet.  You can read my journal https://forum.mrmoneymustache.com/journals/you-can't-be-20-on-sugar-mountain/ if you're interested in angsty whiny details on why.  (tldr version - concerns about healthcare coverage, golden handcuffs, don't feel spending is really under control or consistent, and just general nervousness about leaping off the cliff.)

[dandarc]

I don't have a firm number, but my stash would currently throw off about 20K a year (NW 750K ish but some tied up in house or retirement accounts I wouldn't be able to touch immediately as a millennial).  I'm struggling to parlay that in to more confidence and less angst at work, frankly, but it makes sense!

https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Don't let that 59.5 rule stop you from retiring when you think you're ready.

[Altons Bobs]

If we were to retire today, our withdrawal rate would be at 1.7%. We're not working very hard, we're working to keep our group insurance. I can just pack up and go anytime, but the hubby says it's easy money that I should just keep running my business, so here we are, still working.

[onlykelsey]

I don't have a firm number, but my stash would currently throw off about 20K a year (NW 750K ish but some tied up in house or retirement accounts I wouldn't be able to touch immediately as a millennial).  I'm struggling to parlay that in to more confidence and less angst at work, frankly, but it makes sense!

https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Don't let that 59.5 rule stop you from retiring when you think you're ready.

Thanks.  I was aware of the work around but haven't started thinking heavily about it yet.  about 250K of my non-house NW in a taxable brokerage account, 40K in a roth IRA, and and 175K in a 401K.  5 years like such a long time away.  I'm sure I could retire in 5 years, but I am not convinced I will, so I haven't made any moves.

[beer-man]

I don't have a firm number, but my stash would currently throw off about 20K a year (NW 750K ish but some tied up in house or retirement accounts I wouldn't be able to touch immediately as a millennial).  I'm struggling to parlay that in to more confidence and less angst at work, frankly, but it makes sense!

https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Don't let that 59.5 rule stop you from retiring when you think you're ready.

Thanks.  I was aware of the work around but haven't started thinking heavily about it yet.  about 250K of my non-house NW in a taxable brokerage account, 40K in a roth IRA, and and 175K in a 401K.  5 years like such a long time away.  I'm sure I could retire in 5 years, but I am not convinced I will, so I haven't made any moves.

That’s a pretty healthy taxable balance! A few more years and that should kick off healthy enough dividends that you could downshift to a different job and use dividends to supplement your income. Then your 401k could be rolled to an IRA and grow till 59.


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[onlykelsey]

I don't have a firm number, but my stash would currently throw off about 20K a year (NW 750K ish but some tied up in house or retirement accounts I wouldn't be able to touch immediately as a millennial).  I'm struggling to parlay that in to more confidence and less angst at work, frankly, but it makes sense!

https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Don't let that 59.5 rule stop you from retiring when you think you're ready.

Thanks.  I was aware of the work around but haven't started thinking heavily about it yet.  about 250K of my non-house NW in a taxable brokerage account, 40K in a roth IRA, and and 175K in a 401K.  5 years like such a long time away.  I'm sure I could retire in 5 years, but I am not convinced I will, so I haven't made any moves.

That’s a pretty healthy taxable balance! A few more years and that should kick off healthy enough dividends that you could downshift to a different job and use dividends to supplement your income. Then your 401k could be rolled to an IRA and grow till 59.


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That is definitely a plan I've considered.  Even if I never invested another dime in a 401K or IRA (or just did 5,500 a year) I think I'm frankly set for traditional retirement.

I went to grad school so I missed out on 401Ks until 6 years ago (although I did contribute some to an IRA in my early 20s), so I've been making up the difference in taxable accounts, hence the high ratio of taxable : tax-advantaged asset. 

[Threshkin]

I finally FIREd approaching 2 years ago but we hit our FI number a few years before that.  I kept working because A) The job paid well and was easy. and B) My mom was in mental decline and depended on me being available.  Since we could not travel or do much else I kept working.

Our WR is now embarrassingly low for this forum and we are starting to consider how to increase our expenses.  This is harder than it sounds when we both have deeply entrenched mustachian habits.  For example, we tried going out to eat but we keep deciding that we can make better meals at home and have more fun doing it.  As I type this we are talking about going out.......to the library......

[PhrugalPhan]

I am technically at my FIRE number (using a 3% withdrawl rate).  I have some significant golden handcuffs at work, though, so I'll be working most likely another two years before pulling the plug.

That's pretty much my scenario too, though I like the subsidized health insurance / HSA and I would probably need about a 3.5% withdrawal number.  Bad part is my golden handcuffs come off in four years.

[Bateaux]

Once meeting the FIRE number many decide to keep working.  Maybe call it advanced FU-Money.  You refuse to be pushed or stressed out at work since you hold a fortresses of fortitude.  Some of us move on to building legacy funds or build a stash with the capacity to empower philanthropy.   Reaching a FIRE number just to bail out of a hated job is just one path.

[beer-man]

I finally FIREd approaching 2 years ago but we hit our FI number a few years before that.  I kept working because A) The job paid well and was easy. and B) My mom was in mental decline and depended on me being available.  Since we could not travel or do much else I kept working.

Our WR is now embarrassingly low for this forum and we are starting to consider how to increase our expenses.  This is harder than it sounds when we both have deeply entrenched mustachian habits.  For example, we tried going out to eat but we keep deciding that we can make better meals at home and have more fun doing it.  As I type this we are talking about going out.......to the library......

Haha yes I hear you our last date was a money date. I updated my wife on our progress, set some goals, then split a glass of wine and an entree.
 I see a lot of bogleheads with sub 3% withdrawal rates but I get the vibe that they have less of a love for work but more of a cautious nature post recession.
  Thanks for all of the responses so far.


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[Freedomin5]

Yes, we are already at lean FIRE, and 1 to 2 years away from reaching full FIRE. No plans to stop working since we enjoy our work. I believe the term for happily working FIRE-able Mustachians is SWAMI = Satisfied Working Advanced Mustachian Individual.

[Bateaux]

Yes, we are already at lean FIRE, and 1 to 2 years away from reaching full FIRE. No plans to stop working since we enjoy our work. I believe the term for happily working FIRE-able Mustachians is SWAMI = Satisfied Working Advanced Mustachian Individual.

That's it.  I'm a SWAMI !   Love that shit.

[misshathaway]

Our WR is now embarrassingly low for this forum and we are starting to consider how to increase our expenses.  This is harder than it sounds when we both have deeply entrenched mustachian habits.  For example, we tried going out to eat but we keep deciding that we can make better meals at home and have more fun doing it.  As I type this we are talking about going out.......to the library......

Laughing. So many spending fails. At least YOU two like to travel.

The first thing we should do is leave this forum. Can't even do that. Too many do-it-yourself projects and other fascinating frugal ideas.

[onlykelsey]

Our WR is now embarrassingly low for this forum and we are starting to consider how to increase our expenses.  This is harder than it sounds when we both have deeply entrenched mustachian habits.  For example, we tried going out to eat but we keep deciding that we can make better meals at home and have more fun doing it.  As I type this we are talking about going out.......to the library......

Laughing. So many spending fails. At least YOU two like to travel.

The first thing we should do is leave this forum. Can't even do that. Too many do-it-yourself projects and other fascinating frugal ideas.

https://www.vice.com/sv/article/nnqkek/why-are-young-people-being-so-altruistic-209  I found a solution for you

[wxdevil]

Seems like once your at minimum FIRE levels, that any additional year worked should rapidly advance you towards more of a Fat-FiRE status. Barring a market crash, you wouldn't touch your investments and allow them to grow, while continuing to contribute to the main stash.

[markbike528CBX]

OP beer-man, google site:forum.mrmoneymustache.com OMY

I have to admit that I also exceeded my FIRE number1.75m (70k/year @4%) and my "enough" figure of 2M, sort of by accident as the stock gains outstripped my timeline.


MissNancyPryor,
Sounds like you have a good plan in place, now that it is documented on the forum, you should follow it.  My condolences for your situation. It is good to note that you can already see some upside to your situation.

[dabears847]

Yes, hit my number two years ago, each year adding more to net worth, resetting goal so I can stay motivated. Next goal is end of 2020 and potentially start a business.

Moved to Florida from Midwest one year ago. That was a ten year saving goal requiring fi to consider the move. 

[John Doe]

I hit my number about 18 months ago. Employer though offered me a ridiculous amount of money to continue working two days a week for two years.  Looks like they are prepared to continue to pay me at this level for another 2 years so I may sign once again. We really have not saved much over the last 18 months but the stash has of course continued to grow and our spending has been far removed from MMM principals.  I sort of like the spot we are in right now.