re: Early Retirement

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First off, I'd realistically think of a budget you want in retirement. When you don't go to work everyday, your expenses drop quite rapidly actually. A ton of the things you paid for like oil changes can start to cost 50% or less. If you want to, you eat out less, drive much less, and have more time for things like yard work and house maintenance.

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I think this is a common myth, people are living longer and staying healthy for a larger part of that time. The image of puttering in the yard watching some TV and then nap time, is long gone. Based on my life in retirement and dozens of others I know, we drive just as much or more as when we were working because we now have the time to go places often there is the additional cost of air travel, and hotels. We eat out probably more because we are home less or just want to. Then there are new expenses like the boat or RV you bought for retirement. The last thing any retired person I know wants to do is yard work and home maintenance, or even just sit at home, the kids are gone, we are free, time to live it up. Needing 100% or more of your pre retirement income is pretty common.