I wanted to find out what numbers / FIRE strategy Aussies are working with?
How are you accounting for Superannuation given that we can not access this money before age 60?
Paid off home plus roughly $2M in other assets. This is for a family of four or five (currently a family of three). Still about thirteen years out from FI and so I imagine we'll need to recalculate several times in the interim, especially as we have only just had our first child but will have two to three kids aged maybe seven to thirteen when we (expect to) hit FI. We're really just guessing at future expenses at this stage.
$2M may seem high, but we're trying to overestimate rather than underestimate the costs of kids.
Our strategy: taking the slow and steady path, both working part-time from here on out. First goal is to offset the mortgage completely, then to stash everything in income-producing assets.
Mr Happier will be 50ish when we hit FI, so we will essentially be looking at a bridging strategy + super, but I suspect that means we'll overshoot our goal.
Plan at this stage is that I RE as soon as we hit FI, while Mr Happier thinks he'll want to keep working part-time a bit longer.
Possible curve balls:
Kids - how many, any disabilities / special needs etc.
Super access rules.
The economy.
Sudden increase in ambition inspiring us to work forever?!