Poll

How many FIRE numbers do you have?

One is all I need
28 (24.3%)
Two
24 (20.9%)
Three
42 (36.5%)
Four
5 (4.3%)
Five
3 (2.6%)
Six
1 (0.9%)
I have so many options you'll be surprised if I ever settle on one!
12 (10.4%)

Total Members Voted: 115

Author Topic: How many FIRE "numbers" do you have?  (Read 4618 times)

dougules

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Re: How many FIRE "numbers" do you have?
« Reply #50 on: April 17, 2019, 11:58:55 AM »
Aside from other factors, I've got different numbers for different geographical locations.  I'd kind of like to move away, so I've got numbers for Tennessee, Oregon, and Mexico, as well as staying put.  I'm not sure where we'll end up yet, though. 

Arbitrage

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Re: How many FIRE "numbers" do you have?
« Reply #51 on: April 17, 2019, 12:55:56 PM »
Really just one, but that one assumes moving away to a particular location.  If we couldn't make that work for some reason, there would have to be a higher number for staying put in Southern CA, but I haven't determined exactly what that is.  Probably an extra $400-500 thousand to cover the house price and tax differences. 

I've mentally toyed with going FIRE while DW kept working while remaining put, in case she decides that she really can't leave this area.  Of course, I want to leave this area for reasons beyond just money, so that wouldn't be my preferred solution even if it meant earlier coastFIRE for me. 

SheWhoWalksAtLunch

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Re: How many FIRE "numbers" do you have?
« Reply #52 on: April 17, 2019, 02:06:15 PM »
Two, but I didn't realize I had two before I read this thread. 

1.25 million = instant FIRE  If we top off our savings/investments/liquid assets (I'm not including the paid off house here) we will immediately consider ourselves FIRE, leave the workforce and begin traveling.  But that's not likely to happen before..

2/20/2022 = probable FIRE  That's when the DH will be old enough to begin drawing down his IRA at the same time I can withdraw my current 401K.  Soon after that the DH will be able to draw Social Security (not counted in my 1.25 Instant FIRE calculations) and our assets will go back to growing faster than I calculate we will need to withdraw cash. 


Edited to improve readability. (the second number is a date)
« Last Edit: April 18, 2019, 12:41:03 PM by SheWhoWalksAtLunch »

Arbitrage

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Re: How many FIRE "numbers" do you have?
« Reply #53 on: April 17, 2019, 03:38:48 PM »
Two, but I didn't realize I had two before I read this thread. 

1.25 million = instant FIRE  If we top off our savings/investments/liquid assets (I'm not including the paid off house here) we will immediately consider ourselves FIRE, leave the workforce and begin traveling.  But that's not likely to happen before..

2.2022 = probable FIRE  That's when the DH will be old enough to begin drawing down his IRA at the same time I can withdraw my current 401K.  Soon after that the DH will be able to draw Social Security (not counted in my 1.25 Instant FIRE calculations) and our assets will go back to growing faster than I calculate we will need to withdraw cash.

Had to read this a few times to understand. 

First I thought you had a #1 number of 1.25 million, and a #2 number of 2.2022 million.  I was impressed...really actually more dubious...that you had that number of significant digits in your second fire number.

Next I realized that the "2." meant your second fire number, and you were referring to a year, i.e. #2: 2022.  Glancing back up, that meant your first number must be #1: 25 million.  Not exactly Mustachian, but to each his/her own. 

Finally I realized that you were indeed talking about 1.25 million due to your comment in the second number.  Not that it matters, but you might want to reformat!