Single Mustachians, let's hear your net worth goals!

[MVal]

I know FIRE numbers vary widely from one Mustachian to the next depending on the kind of lifestyle they have or want, how many kids they have, where they want to live etc., but I am curious what most single people here have for their FIRE goal. Married folks and families are naturally going to have higher goals, but how much do you figure you'll need if you stay single in FIRE?

[damnedbee]

I'm aiming for a stash of $1.1-1.3 million by age 59 (age 40 now with $300K net worth, not including house). Between 45-50, I'll enter semi-retirement and go PT/freelance while the stash grows untouched.

My goal is based on current spending in a HCOL area. I think I could be quite comfortable on a smaller stash of $700-800K in a LCOL area after paying off the mortgage.

[MVal]

Wow, that's a big goal but sounds like you're well on your way! I already live in a LCOL area and do not own a home, so I'm planning to bug out when I have over $400K and then perhaps working part time at things I enjoy and find meaningful.

[SamIAm38]

I'm trying to shoot for 500k before transitioning out of corporate america. I also have a date, april 2019, so if I dont make it I may pull the trigger anyways. Would like to do some traveling and learning for a while, too much work lately. I'm not too worried about the money, I'm 28 and will likely take another contracting job or part time job in the near future. Just want to take a couple years off to work on some personal goals first.

[tarheeldan]

My current expenses call for a 493k stash. I might do Southeast Asia when i hit the 500k, but if I can keep going I'm shooting for more like 625k before calling it FIRE.

The above is renting, shouldn't be compared to homeowner  e.g. MMM spends "24k" but has paid for home.

[trix76]

Great thread - I've been wondering the same thing!

I'm aiming for $900K, which I expect to hit in 3.5 years when I turn 44. At that point, my plan is to stop working full-time, and instead, take on project work for 3-4 months/year for a couple of years. That will still leave 8-9 months a year for slow travel and whatever else strikes my fancy.

(For context, I don't own a home and don't have kids. I live in a HCOL area with annual expenses around $28K right now, and expect to spend more time in LCOL areas once I FIRE.)

[Sisyphus]

I started this exercise last month and I'm struggling to come up with the right numbers that I'm comfortable with.  If I come up with a nest egg number, I was changing the SWR and/or projected post FIRE expenses.   

My numbers are very close to the previous poster so I feel not so fearful. 

I am aiming for 810K in 3.5 years, timing it with the end of my lease.  750K for 4% swr of 30k projected expenses(conservative).  60K of cash padding just in case market tanks so I don't have to dip into the principal. 

[VoteCthulu]

Aiming for 500k plus a 290k house, so a total of about 790k total net worth.

I hope to hit that sometime in 2019 and fire at 39.

I don't expect or include any social security or inheritance, both of which are possible but I don't consider them likely enough to factor in.

[marty998]

I never planned on staying single, so didn't have a goal based on singleness if that makes sense.

I'm a little under $900k at the moment, and it's worrying for me the higher it goes because of the likelihood of bringing disproportionate assets into a future marriage.

Taking out house and super, I currently have net $200k in invested assets ($1m gross before investment loans). I would like to get this to $1m net before making any clear cut decisions to leave the workforce.

That will take some time, but I always seem to underestimate how much can be achieved each year.

[rachael talcott]

I'm 42, a lifelong singleton, and am retiring in May (yay!).  My net worth is a little over $700K.  I own four rental houses that bring in about $24K/yr after all expenses (including deferred maintenance), and I have enough cash to buy 3 more to fix up, hopefully at a rate of one per year.  I own my home outright, so my biggest expense will be health care. 

[Nudelkopf]

That will take some time, but I always seem to underestimate how much can be achieved each year.

You go great guns every year! I love updates on seeing how your property & 'stash has grown.

[2Birds1Stone]

Not exactly single, but have separate finances from my SO and my "single FI #" is $625k in invested liquid assets, throwing off $25,000/yr which is my current annual spend.

[NinetyFour]

Single, 55 years old.  No spawn.

My NW is at $660K but I plan to work until June 2018.  At that point, I predict that my NW will be $800K, which will include about $120K equity in my house (worth about $300K). 

I may end up selling my house in 2019 or 2020. 

I think my annual expenses in retirement will be around $25K.  Healthcare costs are a real unknown...

[Classical_Liberal]

I'd like 750K to be completely FI, but I got started at this a bit late and will likely pull the FT plug somewhere between 400-500K.  Depends how the road goes. I work in a field with easy pick'ens for PT or temp assignment work and will use this to supplement in the meantime.

Single and no offspring makes it easier because there's no one to really worry about but me.  It can also makes it hard, because I only need to worry about me.

[mastrr]

28 year old and it is unknown what the future will bring.  My general goal is to stop working my corporate job around 45 years old.  This very well may change as priorities change and life happens.

Looks like a net worth of $750k would more than do the trick and that's with a $5k per year buffer.  Currently at $175k cash/invested and have a rental property that's worth $120k.  I haven't straightened all my goals out yet but I have some time to figure it out.  I believe that $750k will come faster than I think but can't necessarily wrap my head around it yet.

[Libertea]

This is a difficult question to answer, because there could be multiple answers.  Plenty of my current spending is discretionary in the sense that I don't have to do it to survive, but I am committed to doing it.  (Funding my niece's and nephew's college is probably the most expensive item that falls into this category.)  There are plenty of other discretionary items I could cut out if I was willing to live a more bare-boned frugal lifestyle.  But I'd rather not cut them out, and it's not necessary for me to cut them out.  So I'm going to answer based on tiers of FI.

What I call "retirement readiness" (meaning, having saved enough for retirement at a traditional age of 67, but not for FI or early retirement), would require $350k.  I reached that point several months ago.

Bare-bones FIRE if I was willing to really cut back discretionary spending and possibly geoarbitrage abroad is $625k.  I anticipate reaching that point within the next year.

Full FI where I would also be able to accomplish other goals would be $800k in 2015 dollars, a paid off place to live, and paid off college funds for the kids.  I anticipate reaching that point within five years.

[dreams_and_discoveries]

I'm single and aiming for £750k, will still have a mortgage with ~ 10 years to go.

Live in a HCOL area, a London Borough, and think i want to remain here long term, after a few years of travelling the globe.

Aiming to FIRE in 4 years and head off to SE Asia...

[marty998]

That will take some time, but I always seem to underestimate how much can be achieved each year.

You go great guns every year! I love updates on seeing how your property & 'stash has grown.

I'll put a full update in the NW increase thread in early Jan... still got a couple grand of rent and super contributions to come in before the year is out.

Property continues to do well but you can't eat bricks! Only way to access any return is to sell, and that's a really dumb idea right now.

One of the IP's has unrealised gains that will chew up all my large GFC capital losses...I may need to start including a provision for CGT down the track which will reduce my net worth...

[cdttmm]

Not exactly single, but have separate finances from my SO and my "single FI #" is $625k in invested liquid assets, throwing off $25,000/yr which is my current annual spend.

Similar situation. Long term partner, but not legally married and have no plans to tie the know. We keep separate finances to a large extent, but do have two jointly owned houses (primary residence + rental property). My "single" net worth just passed $600K, but a huge portion of it is tied up in the aforementioned jointly owned properties. I'll likely RE when my net worth hits $850K.

[andy85]

$750k+ in investments...hopefully somewhere between 45-50 years old
Although i have a feeling once i hit 500k i will start looking at the semi-FIRE thing a lot harder...time will tell.

[limeandpepper]

Another one in a relationship, no kids, planning to purchase a property together, but we have individual finances. I'm not even sure I strictly have a net worth goal these days. I used to think around $500k or so without a property, but the thing is I've already cut back on working these days anyway, and there is the possibility that instead of retiring early, I will just be in a prolonged semi-retired phase from now onwards. I also did a mini-retirement of sorts with my partner a couple years ago, in which I quit my job and we travelled around for 4.5 months, and we hope to do that again sometime. Plus, calculations may change if I do end up being the joint owner of a property.

[MVal]

My current expenses call for a 493k stash. I might do Southeast Asia when i hit the 500k, but if I can keep going I'm shooting for more like 625k before calling it FIRE.

The above is renting, shouldn't be compared to homeowner  e.g. MMM spends "24k" but has paid for home.

So how close are you right now? How many more years do you think it will take?

[tarheeldan]

My current expenses call for a 493k stash. I might do Southeast Asia when i hit the 500k, but if I can keep going I'm shooting for more like 625k before calling it FIRE.

The above is renting, shouldn't be compared to homeowner  e.g. MMM spends "24k" but has paid for home.

So how close are you right now? How many more years do you think it will take?

I got a late/slow start so at 32, I'm "only" 26% of the way there.

My projections say the second half of 2022 for 500k (I'll be 38) or two years later for the 625 at 40. Hopefully my wages will more than keep up with inflation and speed things up though :-)

[MVal]

My current expenses call for a 493k stash. I might do Southeast Asia when i hit the 500k, but if I can keep going I'm shooting for more like 625k before calling it FIRE.

The above is renting, shouldn't be compared to homeowner  e.g. MMM spends "24k" but has paid for home.

So how close are you right now? How many more years do you think it will take?

I got a late/slow start so at 32, I'm "only" 26% of the way there.

My projections say the second half of 2022 for 500k (I'll be 38) or two years later for the 625 at 40. Hopefully my wages will more than keep up with inflation and speed things up though :-)

We are sort of similar, then. I also didn't really get Mustachian until I was 32, now I'm 34 and a little over 20% of the way to my $400K goal.

[Razzle]

I'd like 750K to be completely FI, but I got started at this a bit late and will likely pull the FT plug somewhere between 400-500K.  Depends how the road goes. I work in a field with easy pick'ens for PT or temp assignment work and will use this to supplement in the meantime.

Single and no offspring makes it easier because there's no one to really worry about but me.  It can also makes it hard, because I only need to worry about me.

This is my situation exactly. I'm 49, hoping to downshift to PT in 2019 somewhere between 500-600K, not including house equity.

[FrugalSaver]

40

$1.15 million

Looking for Miss Mustachian

[Fomerly known as something]

$1 million + a paid for home.  I'm conservative, (over estimate expenses I don't have a lot of control over, taxes health care etc) and when I FIRE I want to make sure I can stay FIRE'D.

[GrumpyPenguin]

I'm 33 and not married, but do have a long-term girlfriend with separate finances.  I'm FI now, with a bit more than $1mm, but since my girlfriend (even if married) would want to continue working for at least 10 years, I'm not sure of what my RE plans are, or any specific goals.  Now I'm suffering a bit of the OMM syndrome (one more million... is this a thing? Not exactly One More Year).

[RoostKing]

When you all talk about Southeast Asia, are you talking about moving there? Where specifically?

[MrMoogle]

I'm single, but would like to get married some day.  500k gets me pretty comfortably FI, but I'm saving for 750k for: in case I get married and have kids, have more health problems in the future (I've had a lot this year), other unknowns.  I'm hoping to hit that number in 2020.  Evidently, it's fairly easy (not much approval) to work 4x 8 hr days at my job, so I might switch to that soon. 

[limeandpepper]

When you all talk about Southeast Asia, are you talking about moving there? Where specifically?

I'm not one of the people who mentioned Southeast Asia, but I'm originally from there and I can imagine splitting my time between SE Asia and Australia (my second home!) when I retire, though the latter I see as my main home now so I don't plan to move back permanently. I also travelled for several months in Asia a couple years back, had a blast.

[TightFistedScot]

I'm 42, a lifelong singleton, and am retiring in May (yay!).  My net worth is a little over $700K.  I own four rental houses that bring in about $24K/yr after all expenses (including deferred maintenance), and I have enough cash to buy 3 more to fix up, hopefully at a rate of one per year.  I own my home outright, so my biggest expense will be health care.

Wow! That's great, congrats :)

[Bumperpuff]

I'm currently single with about $20K in expenses per year in a somewhat HCOL area. My goal is to retire at 44 or 45 with $1MM plus a largely paid off house.  I know I could retire off of $500K, but if I should get married I'd like for us both to be able to FIRE.

[TightFistedScot]

I'm 31 and single, though I do have hopes of having a partner and perhaps a kid in the next few years.

I would feel comfortable hanging up my hat with just under 1M. My net worth is currently circa 300k (a big chunk of that is equity in my house though).

Aiming to retire (or at least have the means to do so) mid 40s. I suppose that may change if I decide to have a kid.

For now, just focusing on the day-to-day: leaning out expenses and increasing my savings.

[slugsworth]

Right now, not including the PI in my mortgage and an extremely low interest student loan my expenses are ~$16k/yr. I have enough equity in my HCOL house to sell it and buy a place in a LCOL city outright.  When I get to $500k in total net worth I'll be looking pretty seriously about retiring even if I'm not 100% FI.  I guess I don't think finding $10k in income a year would be that hard if i needed to and that plus SS provide enough of a backstop to make me feel comfortable.   

[MVal]

Right now, not including the PI in my mortgage and an extremely low interest student loan my expenses are ~$16k/yr. I have enough equity in my HCOL house to sell it and buy a place in a LCOL city outright.  When I get to $500k in total net worth I'll be looking pretty seriously about retiring even if I'm not 100% FI.  I guess I don't think finding $10k in income a year would be that hard if i needed to and that plus SS provide enough of a backstop to make me feel comfortable.   

Why would you only have $10K in income annually in FI if you have a stache worth over $500K? Do you plan on taking less than a 4% withdrawal rate? I would think you could easily live on $20K per year with that.

[slugsworth]

Right now, not including the PI in my mortgage and an extremely low interest student loan my expenses are ~$16k/yr. I have enough equity in my HCOL house to sell it and buy a place in a LCOL city outright.  When I get to $500k in total net worth I'll be looking pretty seriously about retiring even if I'm not 100% FI.  I guess I don't think finding $10k in income a year would be that hard if i needed to and that plus SS provide enough of a backstop to make me feel comfortable.   

Why would you only have $10K in income annually in FI if you have a stache worth over $500K? Do you plan on taking less than a 4% withdrawal rate? I would think you could easily live on $20K per year with that.

I probably should have been a little clearer.

Yes, the 4% rule says $500k should spin off $20k/yr.  My current expenses are closer to $30k, if I take out my small student loan and PI, I'm close to $16k.  When I said "$500k in total net worth" I was including the value of my house.  It is sort of a trigger for me to consider selling my current place and having a change in lifestyle.  I figure I need to use part of that stash to buy a new place or to allocate to a rent.

If I got to $650k-$750k I could be FI in a HCOL place. . . I would love to be done before then!

Hopefully that clears up the confusion!

[obstinate]

I'm doing a somewhat un-Mustachian thing, in that I'm accumulating until I have the passive income to live almost anywhere I choose, including in the heart of SV or Manhattan. I'll be at that number in about a year assuming zero market appreciation between now and then, so I don't think it's an unreasonable goal. After I get there, I'll reevaluate what I want to do.

[simmias]

This thread is a refreshing read after reading the similar one at Bogleheads: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=207067&newpost=3177367

[tarheeldan]

When you all talk about Southeast Asia, are you talking about moving there? Where specifically?

For me, Thailand. I lived in Nonthaburi from 1994-1998 and my folks have been in Bangkok from 2003. I get to visit once a year, love it.

[TightFistedScot]

I never planned on staying single, so didn't have a goal based on singleness if that makes sense.

I'm a little under $900k at the moment, and it's worrying for me the higher it goes because of the likelihood of bringing disproportionate assets into a future marriage.

I have this same worry, even though my NW is just a third of yours. Do you have a plan for when the time comes? How would you discuss this with a romantic partner? Would you do a prenup?

I live in a very high cost of living city, in my early 30s, and mostly congregate with social-justice/social work/not-for-profit people. So folks in my social circle, including those I date, tend to have lots of student loan debt, low paying jobs, and high living expenses.... I have a lot of dating experience under my belt, but I have yet to date someone with a comparable NW to mine.

[Cannot Wait!]

How do you know;  do you compare net worths?  Maybe they're discreet Mustachians?

[GrumpyPenguin]

This thread is a refreshing read after reading the similar one at Bogleheads: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=207067&newpost=3177367

Wow... I guess that's what happens when you only optimize investing but fail to optimize spending =/.

[Spitfire]

Going for 900k plus having my condo paid off. I'm being very conservative, especially on health care (assuming $10k/year to cover a full bronze deductible). Estimating to push the button by the end of 2025, I'll be 45.

[MrMoogle]

Right now, not including the PI in my mortgage and an extremely low interest student loan my expenses are ~$16k/yr. I have enough equity in my HCOL house to sell it and buy a place in a LCOL city outright.  When I get to $500k in total net worth I'll be looking pretty seriously about retiring even if I'm not 100% FI.  I guess I don't think finding $10k in income a year would be that hard if i needed to and that plus SS provide enough of a backstop to make me feel comfortable.   

Why would you only have $10K in income annually in FI if you have a stache worth over $500K? Do you plan on taking less than a 4% withdrawal rate? I would think you could easily live on $20K per year with that.

I probably should have been a little clearer.

Yes, the 4% rule says $500k should spin off $20k/yr.  My current expenses are closer to $30k, if I take out my small student loan and PI, I'm close to $16k.  When I said "$500k in total net worth" I was including the value of my house.  It is sort of a trigger for me to consider selling my current place and having a change in lifestyle.  I figure I need to use part of that stash to buy a new place or to allocate to a rent.

If I got to $650k-$750k I could be FI in a HCOL place. . . I would love to be done before then!

Hopefully that clears up the confusion!

Not sure how much the house is worth, but you normally don't include that in your 4% rule.  If you sell the house, you'd have rent, so the net worth in the house is going to a living space cost.  Say the house is $150k.  Then you'd have 350k @4%, so that's only 14k/year after the roof over your head.

[MrMoogle]

This thread is a refreshing read after reading the similar one at Bogleheads: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=207067&newpost=3177367

I couldn't make it far in that.  Lowest I saw was $2M, but $10M was fairly common.  Most retiring 60+ at those ranges. 

This is when I stopped:

This is a great question. My answer is $100mm. I would have to think hard at $70mm, but I'm done at $100mm actual cash in the bank. Im 51 and have 30 or so mm. Its nice but you need $100mm for true wealth. Maybe at 70mm I woulld change my mind.

[TightFistedScot]

How do you know;  do you compare net worths?  Maybe they're discreet Mustachians?

Yes we discuss this openly.

[mozar]

Holy schmoly, I don't even know how you make 100m, which is probably why I don't have it.

[NinetyFour]

Holy schmoly, I don't even know how you make 100m, which is probably why I don't have it.

Guess you'll never experience "true wealth" then.  :(

;-)

[limeandpepper]

To be fair though, this thread focuses on singles, the discussion of numbers at the Bogleheads thread have no such limitation and many seem to be for couples and families. But yeah, some very high numbers there, even taking that into account!