re: What’s a great net worth by 45?

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If you decide to pull the plug on working before age 59.5, you can set up a SEPP plan to access your 401k money without the 10% penalty.

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Thanks for this (and great 1st post). I thought you had to be 55 to do it, but nope! Good to know!

I am one year away for m a 60y old coast fire

People saying "I'm at $XX net worth at XX years old" - if married, are you talking household net worth or are you taking your household and dividing it in half to get your individual net worth? Just curious how its being measured here

I hit my coast fire # last year at 34. No kids, not married.

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I hit my coast fire # last year at 34. No kids, not married.

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What is retirement age

I'm actually at chubby fire now. Hoping to hit fat fire by 40, but likely going to ramp things down in the next year or two. Life's too damn short to work all the time

As others have pointed put, it's relative to income, lifestyle, COL, expenses etc... Rather than a specific $ number, another way to look at it is a multiple of expenses. A popular rule of thumb for FIRE is 25x expenses (for a 4% safe withdrawal rate.) I'd say anyone that has accumulated that by 45 has done "great."

I FIRE'd at 45 at that mark (exceeded it at 43/44 but market correction took us down a bit).
That was attainable w 2 kids, wife that worked only a few years at entry level jobs, and no inheritance or financial help from family other than few hundred dollars a semester in college at most (given more than we've recieved.)

Chubby fire is a NW of roughly 2.5-10 million

Fat fire is anything over 10 million

I’ve used 100-120. That is a fundamental parameter for the overall calculation (by some measures the most important). One good strategy is to base it off of current yearly spend if you track that rigorously. I have generally assumed retirement annual spend will be similar to current, which is conservative with respect to lack of childcare in retirement, but maybe not conservative with respect to healthcare. This is also assuming the calculation tool is correcting for inflation.

According some tools, at 40 we’ve reached it. The earlier it is, the more risky it is.

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$1m?

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I think this is doable. I'm no OT baller. Single income family of 5. I'm in my low 40s and we have broken the $1mm net worth barrier recently.

$1.5MM should be possible for DINKs or those who started out of college around $90-100k/yr range.

EDIT: To add more context I have always saved 15% of my salary toward retirement since graduating college and have never waivered from that percentage. First salary was $55k/yr (age 24). Currently making $160k/yr (age 42).