Wife and I both 34. 2 kids age 3/6. Net worth 540k with stable paid off rental property bringing in $1186/month and primary residence will be paid off in 2 more years. Currently in pension system that will pay 60% by age 52. Currently our monthly budget ends up around $4200/mo which includes averages of all vacations etc. Once house paid off would be reduced to $2950/mo. If our rental takes care of $1186, we only have $1760/mo. To take care of. My wife works part time and makes about $1600/mo. I could most likely get a side job making $1600/mo too, which would mean we could both be part time and still save $1440/mo.
The only thing I'm not sure about is 1) how we will afford healthcare (we are both incredibly fit and disciplined and haven't been to the doctor in years and years for anything) and 2) where our retirement will come from. We have the rental that is worth $250k currently and obviously the $1400/mo savings could be invested over years.
I guess I'm wondering if this scenario sounds like a reasonable point of fire, or if we should just stick the course to age 52.
EDIT- I should also add that if we really committed to fire, we would be content reducing other costs like more gas, possibly 1 car and not 2, and just a little less spending in general which could cut off another $400/mo, so a potential savings of $2000/mo while part time.
EDIT 2- sorry, meant to also say majority of our net worth is in property, as in just about all of it besides like $16k in savings.