Hi everyone,
I've been lurking this website for 2-3 months and it has been great to realize that there are others out there who value freedom over money. I have always held the beliefs that I read here all the time, and knew I wanted to find a way to beat the system and not have to work until I was 65, but this site has really helped me to quantify what I want and how to get there. Here is a little about me:
Age: Just turned 36!
Income: 60k. This is about where I see myself staying for as long as I'm in the rat race. I am a solid employee and am pleasant to work with but also not much of a go-getter, instead preferring to leave at 5pm every day and spend time on other interests. 60k is also a pretty good income in my area of the country.
I also have a few "fun jobs" that dont pay much but are more like hobbies. I plan to continue doing these types of jobs for as long as I am able.
Family Situation: Single with no kids. Open minded to have a child but would be perfectly happy trading that experience for more freedom. Would like to find a mate to share a relaxing low stress life with, but am very independent and will take this as it comes.
Balance Sheet: Home value $200k, Mortgage Balance $78k. No other debt.
Retirement Account: Roth IRA $6k
Traditional IRA $12k - my current job does not offer a 401k.
My case study really isnt about income vs expenses, I have found my Mustachian comfort level and I am confident that I can put about $30k/yr towards my FIRE goals. I plan to max IRA every year moving forward and put the rest of the 30k towards paying off the home. I have my reasons for doing it this way, not looking for the dreaded payoff mortgage early discussion :)
The Goal: Sell house, move to a warmer climate, buy ~$125k house with cash, obtain low stress/low responsibility job for 20hrs/week making ~1200/month, work "fun" jobs in my free time making ~600/month (all of this before tax), spend lots of time at the pool, going for walks, and a little charity work.
Once I reach that point, I expect my spending to be ~2500/month (I know, not that Mustachian)
I'm not sure what specific questions I have, other than what age would be a realistic goal to be able to "semi-retire" and how to go about it. More looking for general thoughts on my plan and situation. For simplicity sake for the purpose of the discussion I'd prefer to assume I remain single forever, even though its more likely than not that will not be the case.
I truly appreciate any thoughts and will be active in any discussion that takes place, if any!