Comment on How Much Do I Need to Retire? by ambertreeleaves.
Our plan is based on the 4pct rule. As input, I takee our current spending. It isthe best guesstiate I can make for now. I have a planning spreadsheet where I can enter some life events and variations in spending.
Today, we are about 25pct down the road!
ambertreeleaves Also Commented
How Much Do I Need to Retire?
It is also our plan to have a big part in cash flow generating assets by the time we retire… The peace of mind it gives is priceless.
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At this time, we are working to fund our FIRE funds so that soon that can fund our essentials. We are quite low already on discretionary compared to others.
It can still go lower. 4K per year on ski is really not needed and can be replaced with a 2K other type or holiday, or even staycation, why not…!
At one point in time, we will need to decide on what is more important: the discretionary spending or the freedom FIRE can bring.
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Great story. I like the math to decide on buy or not. You also add in the occasional renting in stead of buying. All good elements.
We do not own one, we could use one from the family and now no longer can. It is great to have cheap holidays. It was cheap for us as someone else paid all the costs. Personally, I would not buy one. It means holidays always on the same spot, guilty feelings when going elsewhere,…
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Thx for the mention.
Now that we have a better idea of what we want, it is easier to go after that, evne if it means postponing FI a few years. Without that isight, I would not have changed jobs to a startup. From apure FI point of view, earning less is just plain stupid. In the bigger picture, it makse 200 pct sense….
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Thx for sharing this!
Tom is a great person. He runs Tastytrade, the financial network I love to follow.
I watch their show on a regular basis!