LiveWell - great post. Definitely something I need to keep working on. I also like the milestone idea. I know as I slowly and impatiently wait out the next four years, it would be helpful to have a handful of targets to celebrate along the way. Perhaps on those days, I can read the MMM article you referenced. Anyone want to help me create a few more milestone entries?
-I would be FIRE if I moved to a LCOL area.
-one year, two years, three years away from FIRE
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Thanks for the feedback! DW and I have always been relatively frugal, it's been a different focus since I discovered MMM and FIRE three years ago. My list since then has looked something like this:
passed:
- Holy Sh*t this is possible!
- DW, check this out! check this out! check this out!
- OK, DW, let me slow down and make this easier for you since I am the finance geek in the family (I actually created a couple PPT presentations for her, graphic heavy)
- Wow, we have lot's of FU money!
- DW agrees that buying a bigger house really doesn't make any sense.
- DW, I am perfectly ok with you quitting your stressful career and be a stay at home mom
- Damn, we have a 5.5% SWR today. I love FU money! Know that it may take 2-7 years to get to 4% or so, so settle in to enjoy the remainder of the career and avoid as much bullsh*t as possible. Yay!
next:
- Cross threshold where we can FIRE by moving to LCOL area (if we choose to)
- No more preschool payments! (we value preschool, but it's expensive. Public school later. Today is our single largest expense)
- Officially OMY
- FI!
RE I am still thinking about. I don't want to do full time, and I want to slow travel, but I'm on the fence about part time. I've been thinking I might see if I could carve out a part time role at my current job because I like my employer and coworkers and the work is mostly rewarding with excellent pay and perks. If that isn't available, I would be fine with it too! I need to think this one through over the next couple of years.
Getting your signifigant other on board is very important. My DW is mostly on board. The freedom she has now has been a bit abrupt, but she's adjusting and choosing to be a SAHM has been very good for her. It's very interesting to watch and learn from because she is essentially having to process in a short time what I'm looking to do over a couple years. I think there is a lot of validity to thinking through the non-financial side of FIRE, and I think for most of us on this thread probably the best place to spend your time while you're finishing this portion of the journey.