re: Who in here follows the "FIRE" mindset when it comes to money?

Didn you do 20+ years in the military? I imagine a steady income from pension is a big part of your plan??

Without a pension, how are people retiring early without a taxable brokerage to bridge it?

Spill the beans on your number

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Who in here follows the "FIRE" mindset when it comes to money?

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I used to, but when I turned 50 I decided to start blowing money on travel. My wife and I want to travel while we are still healthy. If this means working longer so be it. Enjoy life while you can because one health crisis will crush your FIRE plans

It is a tough one to figure out how much you'll really need in retirement. As we are experiencing now, inflation is seriously forcing people to adjust. If you retire at 55-60, it's a lot easier to figure out what you'll need when you are making the actual call at 54-59. Making the wrong call on where inflation and taxes will go, when you're only 35, may leave you returning to work at 40. Someone retiring at 35, likely has worked only 17 years, and is trying to make that last for another 40-50 years. I think someone retiring at 35 is really only saying they are "retiring" from one job to another form of work, whereas at 55, you should be able to say work is over if you want to.

I know a guy who hit it big on the Facebook ipo years ago and retired at 30. He became bored and ended up working for them as a consultant.

Our fire mindset is that we are always going to work and produce income as we would be driven insane otherwise. We travel, and experience life, but our lifestyle is work which is fine.

There’s some meaning to life behind producing and building. We certainly will always work. “Retired” and letting our children own/run the farm but still work.

My father “fire’d” at 50 and all he does is sit around and watch tv for years. I want my years to be active, in the weather, being able to push the younger generation along.

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Looking at some coast theories

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This is the way. You are most of the way to FI if you are just cash flowing your annual expenses with your paychecks.

We've basically reached Coast FIRE at this stage...just a matter of rate of return, time, and gain/loss sequences.

Compounding figures become pretty wild when a few points in market performance in a month drives you up or down 5 or 6 digit changes in net worth.

My wife and I basically financially followed FIRE for a couple of decades without even knowing anything about FIRE. We both retired early (she retired almost 15 years ago and I retired almost 5 years ago). Neither of us are SS eligible yet. We were frugal and saved as much as possible, and we used to do very cheap things for vacations, such as camping and day hikes at state parks, etc. She ran a very successful business but it worked her into the ground so she retired well before me. I was in a corporate career that paid a lot and good benefits, but it was very stressful. I was also very good at investing and still excel at that. Now our investments are paying way more than we ever made when we worked. We bought our dream lake home near a great small/medium sized town are we are no longer frugal and we buy and do basically whatever we want.

I just hit COAST at 32 but if I give it another 3-5 years I'll be more than set. Pretty nice feeling though

72(t) won't provide enough income for my lifestyle.